LG VS700 - Manual (Page 53)

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Connecting to Networks and Devices
2. Touch the 3G Mobile Hotspot checkbox to enable this feature.
3. Read the disclaimers and Help information, then touch OK.
Portable Wi-Fi Hotspot is active
4. Your portable Wi-Fi Hotspot is now created.
5. Touch Configure to set the SSID and key for your 3G Mobile Hotspot.
You can use this menu to enable and disable the connection. Once the
connection is active, go to the device you wish to connect and configure
its wireless connection to the Network SSID for your Android device
and input the password (if you are using WPA2 PSK). You will now have
wireless access on your device.
NOTE WEP is the weakest option because it's highly vulnerable to hacking. WPA2 is
recommended by the IEEE.