Naver, LG U+ sign agreement on music and content businesses

Naver and LG U+ signed an agreement on music and content businesses, the companies said Wednesday.

LG U+ rolled out mobile subscription plans that include Naver’s VIBE music streaming service. The telecom company is also offering its mobile subscribers VIBE subscription plans with a discount.

Naver and LG U+ also hope to collaborate on content businesses in the future.

For example, the companies are considering providing LG U+’s original content through Naver’s video streaming service or jointly producing K-pop-related content.

“We are excited about the synergy between Naver’s capabilities in music and content businesses and LG U+’s wide-ranging mobile subscriber base,” said Lee Tae-hoon, head of Naver’s music service division.

Lee Seok-young, head of LG U+’s mobile service division, said that “in collaboration with Naver, we plan to come up with various services involving music businesses and more in the future.”

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]