LG Uplus announced that it is proceeding with the procedures for the complete cancellation of its treasury stock.
Yeo Myeong-hee, Chief Financial Officer (CFO) and Chief Risk Officer (CRO) of LG Uplus, said in a conference call following the announcement of first-quarter results for 2025 on the 8th, "Internal procedures regarding the complete cancellation of 6.78 million shares (1.6%) of treasury stock currently held are underway," and noted, "After the first half of the year, we will decide the scale of the treasury stock buyback considering the expected short-term net profit and cash flow for the year and share this with the market." She added, "We will ensure that our commitment to enhancing long-term corporate value through shareholder returns is communicated authentically."
LG Uplus is pursuing a business strategy that can cultivate the artificial intelligence (AI) sector as a new growth driver. In this regard, CFO Yeo noted, "In our core business centered on telecommunications, we will continue our efforts to maximize revenue while also seeking growth opportunities in the AI sector across various fronts," adding, "We plan to actively expand into the corporate market based on validating productivity increases through internal application of AI solutions."
LG Uplus's consolidated first-quarter results for this year show revenue of 3.7481 trillion won and operating profit of 255.4 billion won. Compared to the same period last year, revenue increased by 4.8% and operating profit rose by 15.6%. This year's first-quarter marketing expenses totaled 555.8 billion won, up 1.6% from the same period last year.