August 4th, 2021 Department of Information and Communications Technology(DITC) in the Philippines inspected the first activated shared telecommunication towers that Korean company Bosung Powertec supplied tower materials while LCS Group participated the construction. LCS Group Chairman Luis Chavit Singson(fifth from left) and executives including LCS Group Vice President, DITO Chief Administrative Officer Adel Tamano(second from left) and DICT Secretary Gregorio Honasan II(forth from the left) attended this visit. The Philippine company LCS Group and Bosung Powertec have commenced the construction of 6,000 towers to provide 3rd telecommunications in the Philippines. Starting with completed 100 towers, the companies are stepping up their efforts to commercialize telecommunications service. LCS Group and Bosung Powertec plan to cooperate the tower construction as well as tower materials supply in the future.In September 2019, LCS Group signed a partner contract with DITO Telecommunity, which was selected as the state-run 3rd mobile network operator in the Philippines for the construction of telecommunications towers. Under 25 year-long term Master Lease Agreement, LCS Group will construct more than 6,000 towers and collect tower lease fees from DITO Telecommunity. DITO Telecommunity is a telecommunications provider established by one of the China’s three major mobile carriers China Telecom in order to participate in the 3rd telecommunication business in the Philippines.LCS Group Korea, the Korean corporation of LCS Group, signed a materials supply contract for telecommunications tower construction with Bosung Powertec in February this year. Bosung Powertec has its expertise and decades of experience in industrial power equipment, transmission towers, steel structure, nuclear steel frame, and renewable energy. As of the end of July 2021, tower materials supply for 100 tower construction was completed. And LCS Group has initiated the phased commercialization of telecommunications service through completed towers.An official from LCS Group said “we are in the process of signing the materials supply contract for additional 100 telecommunication towers with Bosung Powertec and considering the project participation of Bosung Powsertec in future telecommunication tower construction.“ on the day of inspection.LCS Group owns 10 affiliates fully engaging in real estate development as its main business, mining, transportation, defense, distribution, and entertainment business. The construction and mining affiliates have secured a whopping 90% of the iron sand mines in the Philippines and transportation affiliates topped the bus industry in the Philippines.In 2020, LCS Group established its first overseas corporation in Korea in order to closely cooperate with various Korean companies. One case is the development of the Ortigas site (total area of 160,000 square meter) in Manila, which LCS Group has been currently conducting. The company explained that the project would be the largest complex project in the Philippines, where condominiums, hotels, and business facilities would come in. LCS Group Korea is planning to collaborate with domestic constructors and financial companies for this project. As a foreign-invested corporation, it aims to participate in real estate development projects in Korea as well. In addition, the company already signed ‘Philippine BBQ Master Franchise Agreement’ with Genesis BBQ group as a start of penetration in distribution and food and beverage market. <See the original text>
