LG U+ (CEO Hwang Hyun-sik) has started to strengthen its competitiveness in the rapidly growing connected car market.

The status of connected cars, which lead the future car paradigm, is increasing day by day. In Korea, the number of connected car vehicles exceeded 4 million last year, and if the growth is maintained, it is expected to surpass 10 million within two to three years.

LG U+, which has been seeking to enter the connected car market since 2016, has signed a stake investment and business partnership with Obigo (CEO Hwang Do-yeon), a smart car software platform company, also aims at the era of 10 million connected cars.

LG U+ announced on the 3rd that it has invested 7.232.1 billion won (5% stake) in Obigo and signed an agreement to partner in the smart mobility business. The business alliance agreement ceremony held at LG U+’s Yongsan office was held with major executives from the two companies, including Choi Taek-jin, vice president of LG U+’s corporate division, and Hwang Do-yeon, CEO of Obigo.

Obigo is a global leading company in the field of smart car software platforms such as electric vehicles and autonomous vehicles, and provides infotainment platforms, especially for global finished cars and most smart cars in Korea. In addition, it is evaluated as the only commercial platform and SI development capabilities in the industry by establishing its own ecosystem of web browsers, app frameworks, and app stores for vehicles.

Through this equity investment, LG Uplus has secured the right to use the Obigo web platform and laid a stable foundation for entering the infotainment market using its flagship contents such as U+Idle Country, Mobile TV, and professional baseball.

By fonuder

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