LG Uplus will invest an additional 1.3 trillion won in the second phase of building the artificial intelligence data center (AIDC) in Paju, Gyeonggi.
LG Uplus said on the 29th that its board of directors approved an additional investment plan for the second phase of the Paju AIDC.
LG Uplus is building a 200 MW-class AI data center in Paju, Gyeonggi Province, the largest in the Seoul metropolitan area. The company said all tenancy contracts for Computer Center 1, scheduled for completion in Jun. 2027, have already been signed.
LG Uplus said, "The Paju AIDC is a core hub of the 'One LG' AI infrastructure that combines LG Electronics' liquid cooling solution, LG Energy Solution's high-performance UPS batteries, and the data center operations capabilities LG Uplus has built over 27 years."
The investment will go into building Computer Centers 2 and 3 and related facilities. The company will also proceed with the design of Computer Center 4 to meet growing demand for AI infrastructure and expand its data center business.
LG Uplus's board also approved a plan to acquire 90 billion won in treasury shares that day. The acquired shares will be used for cancellation and other purposes to enhance shareholder value.
The share buyback is part of the "Value-up Plan," which LG Uplus released in Nov. 2024 to enhance corporate value. After canceling about 100 billion won worth of treasury shares at book value in Aug. last year, the company fully canceled an additional 80 billion won worth of treasury shares it bought in May this year.
LG Uplus will pay an interim dividend of 270 won per share in 2026, up about 8% from a year earlier. The record date for the interim dividend is Aug. 13, and the dividend will be paid on Aug. 28.