Good morning and good evening. Thank you all for joining this conference call. Now we will begin the conference of the Fiscal Year 2026 Second Quarter Earnings Results by LG Uplus. This conference will start with a presentation followed by a divisional Q&A session. Our call is being webcasted on our homepage so that you can follow the conference simultaneously. Today's conference call will be presented for one hour, and due to schedule, we would appreciate if questions are limited to two per person. Now we will begin the presentation on LG Uplus' Second Quarter of Fiscal Year 2026 Earnings Results. [Non-English content] Good afternoon. I'm Sung Hyunm o, Head of the IR team at LG Uplus. We will now like to start our second quarter 2026 earnings presentation. For those of you joining, please refer to the presentation deck and note that for the benefit of ease of comparison, revenue breakdown and operating expense are on a standalone basis. Also, be reminded that all of the projections made today may change subject to macroeconomic factors and the market backdrop. We will also be providing consecutive interpretations for the benefit of our overseas investors. [Non-English content] Today, I am joined by our CFO, Yeo Myung-h ee, CSO, Kevin Jo, Head of AI R&D Center, Jeon Byung-ki, Head of Mobile and Digital Group, Kang Jin-wook, Media Business Lead, Oh In-h o, Enterprise AI Business Lead, Jeong Young-h oon, Public Relations Lead, Park Kyung-joong, Head of Finance Department, Lee Hyuk-ju, and Head of Accounting Department, Jo Hyun-cheol. We will begin with the opening presentation on the company's second quarter earnings. We'll move on to Q&A. [Non-English content] With that said, I now invite our CFO, Yeo Myung-h ee, who will present on the business and financial performance for the second quarter of 2026. [Non-English content] Good afternoon. This is CFO Yeo Myung-h ee. I would like to thank the analysts and investors for joining our second quarter 2026 earnings call. [Non-English content] During the second quarter, we at LG Uplus took preemptive measures against changing market environment in tandem with AI-driven industrial transformation, focusing our capacity on executing and finding the optimal business direction for future growth. [Non-English content] We thus accelerated the timeline for Paju AI DC build out in order to meet surging data center demand. Although it's not easy to precisely predict demand for GPU-based AI, we already have in place AI DC pipeline, which will scale in phases and that which can flexibly respond to changing demands. We will move ahead and tap into AI infrastructure demand from the big tech companies and fortify bases for mid to longer term growth whilst maintaining investment efficiency and attaining financial soundness. [Non-English content] In AI services, we've made enhancements to AI voice call assistant and information security. We are also pushing for global expansion, taking ixi-O equipped with powerful features, and in cooperation with Ericsson, we are beefing up competitiveness of voice-based AI services, combining the network and AI capabilities of the respective companies. [Non-English content] We also acquired PAGO Networks, specializing in MDR solutions in order to enhance internal cybersecurity capacity. As we internalize threat detection and analytical skills, we plan on strengthening our competitiveness in cybersecurity business for our enterprise customers. [Non-English content] Lastly, through AX Innovation, we are making a shift towards AI powered workflow. We are seeing productivity gains as we move away from human-centric workflow to automation based on AI agent and workload-based standardization. Through end-to-end process integration and cloud-based infrastructure transformation, we plan to strengthen operational efficiency and security preparedness and enhance executional capacity for enterprise-wide AX transformation. [Non-English content] Moving on to second quarter financial. Q2 service revenue on a consolidated basis was KRW 3.1 trillion and KRW 2.9 trillion on a standalone basis, growing 2% and 2.8% year-over-year respectively on momentum from enterprise infrastructure and smart home revenue expansion. [Non-English content] Consolidated operating profit was up 13.1% year-on-year, reporting KRW 344.5 billion. This is new quarterly record and even excluding one-time factors, operating profit still exceeded KRW 320 billion, which demonstrate a clear profitability improvement. [Non-English content] Consolidated net profit was KRW 217.7 billion, up 0.3% year-on-year, while EBITDA grew 5.9% year-on-year to KRW 1,034.8 billion, sustaining an uptrend in operational cash flow. [Non-English content] Standalone CapEx was KRW 477.8 billion, up 21.5% year-on-year. Consolidated debt-to-equity ratio fell 3 percentage points year-to-date, reporting 114.1%, stabilizing the balance sheet. [Non-English content] That was the report on our business results and the financial performance. Next, we will hear from each business division on their respective performance and business outlook. [Non-English content] First is on mobile business. I'm Kang Jin-wook, Head of Mobile and Digital Business Group. Second quarter's mobile service revenue increased 1.2% year-on-year, reporting KRW 1,595.9 billion, sustaining stable growth trajectory. [Non-English content] Total mobile subscription count reached 31,467,000 to expanding 5.2% year-over-year. With growing number of 5G handset subscribers, 5G penetration went up to 84.9%. [Non-English content] Q2 marketing expense reported KRW 572.1 billion and because of depreciation, marketing spend increased 7.6%, but declined 6.9% quarter-over-quarter, and as such, regaining cost efficiency with marketing spend accounting for 19.9% of total service revenue. [Non-English content] We also released Simply 2.0 rate plan to make it easy for people to choose and subscribe to the plan, and simplified the offering by combining 53 different rate plans for 5G and LTE into 18. We're also providing additional data capacity to kids, teens, young adults and seniors, and introduced automatic adjustment and benefits as people grow older, revamping the overall rate scheme so that subscribers can enjoy the benefit without having to apply for different set of benefits. We eliminated inconveniences so that subscribers don't need to compare complex terms and conditions across different plans. [Non-English content] We also introduced the All-in-One product, enabling single unified application for mobile, internet and bundling discounts rather than having to apply for bundling after subscribing to mobile and internet separately. By streamlining the subscription process, we improved customer experience for users to help them easily access relatively complex telecom products. [Non-English content] Ahead of the vacation season, we launched AI voice call service ixi-O Roaming Call across 170 countries. Either by connecting to Wi-Fi or if you are a U+ roaming subscriber, you can use voice calls without paying international fees. We completed validation on roaming call stability through quality inspections with the local telecom operator. [Non-English content] LG Uplus achieved its first ever number one ranking in the mobile telecommunication service category of the 2026 NCSI index, which demonstrated our continued efforts towards scaling up customer experience. We were recognized for improving convenience and service reliability across the entire customer journey while driving product and service innovation from the perspective of our customers. [Non-English content] We will continue to streamline tariff plans and the subscription process and scale AI-based services, delivering mobile experience that is stable and convenient to use from anywhere in Korea or from overseas. [Non-English content] Next is Smart Home Business, and I am Oh In-ho, in charge of the Media Business. [Non-English content] Smart Home revenue in Q2 grew 4.3% year-on-year, reporting KRW 663.8 billion. IPTV revenue was up 2.1%, reporting KRW 337.7 billion, while broadband internet revenue was up 7.6% year-over-year, posting KRW 325.1 billion, driven by sustained growth from Giga internet subscribers. [Non-English content] During the second quarter for Smart Home business, we focused on product competitiveness, working on solving customers' pain point. We thus introduced 200 meg rate plan, catering to the higher data usage by internet subscribers of 100 meg plans. We also launched simple All-in-One plan, streamlining the subscription process, combining both mobile and internet, which helped improve customers choice and convenience. We expect these efforts will translate into higher user satisfaction and subscriber expansion. [Non-English content] We also released U+ tv Free 5 for iPad, world first offering of IPTV on the iPad device, delivering unique customer value. The release was met with positive market feedback, with tv free subscribers surging immediately after the launch, and we expect it will lead to product-driven top-line growth. Thanks to customer-centered service innovation, we achieved number one ranking for five consecutive years in the NCSI survey for the IPTV category, and was also recognized as number one company by KSQI index in customer center category across all industries. These outcomes are a testament to our unwavering effort to deliver differentiated customer experience and improve customer service quality. Moving forward, LG Uplus will continue to identify products and services tailored to the changing needs of our customers preemptively. By offering distinctive customer experience and enhancing operational efficiencies, we will continue to drive for sustainable growth of smart home business. [Non-English content] Next is enterprise infrastructure. I'm Jeong Young-hoon, Enterprise AI Business Lead. [Non-English content] Q2 enterprise infrastructure revenue was KRW 464.4 billion, up 8.6% year-over-year. Driven by growth in colocation revenue, AIDC revenue was up 28.9% year-on-year, placing momentum behind the overall top-line growth. For the AIDC business, we are building 20 MW AI data center in Paju, which is by far the biggest in the metropolitan area. From 2027 to 2028, we will be opening four data halls sequentially. For the AIDC market, there is inference and service demand from the metropolitan area, and demand for model training and non-real time inference demand from the regional cities. LG Uplus is making investment worth KRW 2 trillion in size to respond to such demand. Also, through DBO projects, we will secure additional capacity and build regional basis, which will all form part of our dual-track strategy. Leveraging our operational know-how in running our own customer contact center with 4,000 employees, we're continuously enhancing AICC solution for our customers by incorporating practical know-how and pain points that we experienced as a user of AICC. During the first half, we brought internally sourced products such as ixi, STT, and TTS, Consult Advisor, and Auto QA to on-prem business, particularly for the financial industry, and have gained reference sites and expanded market awareness mostly from financial sector customers who are actively adopting AI contact centers. In the second half of the year, we plan to expand the product lineup, including LLM-based call bots, chatbots, and VOC Insight generator, so that we can solve customers' pain point, leveraging our advantage as the users ourselves, so as to further build upon our AICC competitiveness. In B2B infrastructure business, we will continue to solidify growth momentum by building data centers, including Paju AIDC, and by onboarding customers. Supported by competitive edge we have in AICC product and solutions, which is fully insourced, we will speed up delivery of tangible results from new AI-driven business endeavors. [Non-English content] That completes the business highlights, and I will now invite back our CFO, who will briefly run through our second half outlook. [Non-English content] With changes happening around AI technology and the industry, we believe the speed of response will determine a company's future competitive edge. We at LG Uplus will connect the changes brought on by the spread of AI to new opportunities for growth, and through AX implementation across the entire enterprise, we will drive operational efficiency and profitability so as to further solidify basis for growth. [Non-English content] Regarding shareholder return, the BOD approved the resolution on interim dividend and share buyback end of July and made disclosures on this decision. In the spirit of sharing good performance results from the first half earnings improvement, interim dividend has been set at KRW 271 per share, which is an increase of 8% versus last year. [Non-English content] Based on enhanced profitability and cash generation and the commitment to progressive shareholder return under our corporate value enhancement plan, there will be a share buyback of KRW 90 billion, which is bigger than last year. Buyback is premised on cancellation of the same shares, which will support higher value per share and ensure effectiveness of our shareholder return policy in line with the company's commitment towards shareholder value enhancement. [Non-English content] LG Uplus will continue to maintain a good balance between investment for future growth, financial soundness, and shareholder value. We will also continue to engage with shareholders through transparent communications of our business results so as to gain stronger confidence from the market. Thank you. [Non-English content] This ends the presentation on the earnings. We now move on to Q&A. [Non-English content] Now Q&A session will begin. Please press star one, that is star and one, if you have any questions. Questions will be taken according to the order you have pressed the number star one. For cancellation, please press star two, that is star and two on your phone. [Non-English content] The first question will be provided by Jeong-chan Kim from Korea Investment & Securities. Please go ahead with your question. [Non-English content] Thank you for taking my question. I am Jeong-chan Kim from KIS. I would like to ask you two questions. First, I would like to gain some insight as to the impact that your AIDC investment will have on your financial position, do you have plans to further finance for that investment? Also compared to your existing data centers, the new AIDC, including the Paju AIDC, is there any difference in terms of the margin or the profitability? My second question relates to your annual guidance, will there be any changes to the direction in terms of your shareholder return policy going forward? [Non-English content] [Non-English content] This is the CFO speaking. I will respond to your question on AIDC investment having impact on our financial position and whether we have any additional plans to finance for that investment. I would also like to talk about the guidance as well as shareholder return policy. In terms of the specific questions regarding Paju AIDC, I will hand it over to our business lead who will be answering that question. If you look at 2026 CapEx on the back of our expanded investment into AIDC, yes, there is going to be a year-over-year increase, but it will still be within the amount of our EBIT scope. We also have in place a quite steady free cash flow position. Aside from our AIDC business, we also have the asset-light model, including the leasing model as well as the DBO model, which is alleviating the cash pressures and also helping us leverage capital efficiency. When it comes to AIDC investments, there will not be a need for us to raise capital externally as under our corporate value enhancement plan, it will be well within the mid to longer term financial position targets that we have. Having said that, depending on how the AI market actually plays out going forward, there may be, when and if there is any change to our financial position related targets or our investment plans, we will come back immediately to the market to communicate those changes. [Non-English content] I am Jeong Young-hoon and I will respond to your question about Paju AIDC profitability as versus the existing data centers. Yes, you are correct that if you look at our new data center, including Paju AIDC, compared to the current data centers, we believe that we will be able to improve on the profitability. The way the top-line revenue is comprised of when it comes to data center is that there is a rack space fee plus electricity fee. We see that the sales price for rack space is actually being set higher in accordance with higher level of infrastructure investment that is necessary for liquid cooling or for accommodating more number of AI servers. Also considering the fact that the demand actually outpaced supply at this point, the unit price for the server rack is also going up. In terms of the electricity fees, it is typically a pay-as-you-go type of a system and with a higher increase in the utilization because it is used for AI specific applications, we see that the total amount of electricity used is also relatively growing. [Non-English content] This is the CFO again, to talk about our annual guidance and any possible changes in our shareholder return policy. If you look at our first half separate basis service revenue, it posted a growth of 3.4% year-over-year, we're outperforming the 2% guidance target that we communicated at the beginning of the year. We do expect that as we move into the second half of the year, mobile revenue growth may moderate, nevertheless, we still believe that we will, without much difficulty, be able to achieve our annual guidance. [Non-English content] Also supported by our earnings growth and our progressive shareholder return approach, we increased the size of the share buyback as well as the size of the interim dividend for 2026. Upon the balance between investment for growth as well as attaining financial stability, we are going to, within that scope, continuously expand our shareholder return. Due to the changes in the AI industry, our investment approach may be subject to certain changes, we will be very consistent towards progressive shareholder return and enhancing corporate value. When we make decisions on share buyback, we will consider multiple factors, which would include the investment plan of the company as well as the financial position, will employ a flexible approach. [Non-English content] We will move on to next question. [Non-English content] The following question will be presented by Jun-sub Kim from KB Securities. Please go ahead with your question. [Non-English content] Thank you for taking my question. I am Jun-sub Kim from KB Securities. Thank you for good results. I would like to ask you two questions regarding your AI business. I would like to gain some more color on what the AI strategy direction is for greater LG Group, and what role that LG Uplus will play within that greater scope. That information will help us understand as to how the AIDC business will play out going forward. Second question, I would like to understand because LG CNS, your affiliate, is also doing the business, the AIDC business. Some people are thinking that there may be some of an overlap. I would like to know what difference there is between the two companies and/or whether there is any synergies that we can expect. [Non-English content] I am Kevin Jo, the CSO, I will respond to your first question. LG Group of companies, we work under One LG strategy, We wish to further enhance our AI infrastructure and be able to generate new value as we go forward. By bringing together the capabilities of each of our affiliates in the areas of cooling, power, operation, and network capabilities, we want to further strengthen our competitiveness of our AI infrastructure business. By connecting that with our AI technology represented through EXAONE of our AI R&D center, we wish to further scale up the overall value chain so that we may be able to generate a higher value. [Non-English content] LG Uplus is serving as a key pillar in terms of AI infrastructure management and operations. We actually have AIDC infrastructure in key metropolitan locations and supported by our network connectivity capacity, our data center operational know-how, we will be able to respond to growing AI demand. Our plan is to further expand our AI infrastructure. Through such efforts, we will be able to maximize synergies across the group of companies, we will be effectively managing the operational risk through investment that is supported by a solid demand. Through efficient capital management, we also are seeking to further enhance investment efficiency. [Non-English content] I am Jeong Young-hoon and from Enterprise AI would like to respond to the question on AIDC. Between LG Uplus and LG CNS, we both have capabilities in designing, building, and operating the AIDC center. Depending on the capabilities of each of the entities and the customer base that they have, there is a bit of a difference when it comes to the business model. It would not be appropriate for me to talk about the CNS model, what I can tell you is that LG Uplus provides integrated package of data centers plus telecom network. We have our own center to which we've invested and which we operate. We also have a DBO project which we commenced starting last year. Through these efforts, we are securing the biggest data center capacity. [Non-English content] Because AI market is growing at such a fast rate, rather than two companies competing against one another, we are working together to grow the market for the greater LG Group supported by our One LG solution, we are focusing on expanding the customer value and strengthening the capabilities of respective companies. [Non-English content] [Non-English content] There are no questions in the queue right now. [Non-English content] Since there are no more questions in the queue, we would like to now close the second quarter 2026 earnings conference call of LG Uplus. If there are any unanswered questions, please do not hesitate to contact us at the IR team. Thank you very much everyone for joining.