News Reporter

Discover a World of Art on LG Smart TVs With Artlume’s Rich Collection of 15,000 Artworks, From Iconic Classics to Unique AI Creations SEOUL, Nov. 28, 2024 — LG Electronics (LG) has announced a new partnership with Artlume, a pioneering digital art and AI platform, to bring inspiring art experiences to the comfort of home through LG Smart TVs. LG TV owners will be the first to enjoy this extensive catalogue on the big screen. With a shared vision to make art accessible at scale, this new collaboration transforms over 200 million LG Smart TVs worldwide into virtual art galleries, offering a broad selection of artworks that enrich the ambiance of living spaces. Available globally on LG TVs running webOS 6.0 (2020 TV models) and above, Artlume’s expansive collection includes classic masterpieces, contemporary photography, AI art and works from renowned institutions like the National Portrait Gallery in London and the Ashmolean Museum. With over 15,000 artworks available to explore and stream, users can curate personalized playlists via the mobile app to display their favorite art on their LG Smart TVs. Artlume’s user-friendly features allow instant changes to displayed artworks for enhanced creative control. The platform also integrates AI art generation, empowering users to create and publish unique art with simple word prompts, which can then be proudly shared through the screen. “LG is the perfect partner for us, aligned with our goal to bring love, beauty and passion to people’s lives through the universal language of art,” said Patrick Ashworth, founder & CEO of Artlume. “We are committed to leaving a profound positive impact on humanity by educating future generations, supporting mental health through the beauty of art, and sharing museum art with the world.” “LG is dedicated to transforming how people experience art,” said Chris Jo, senior vice president of platform business at LG Media Entertainment Solution Company. “Through this partnership with Artlume, we are bringing a wide array of incredible art to LG Smart TVs, enriching living spaces.” As LG expands its collaborations with leading partners in the arts segment, users are invited to explore a diverse range of artistic expressions from around the globe, all from the comfort of home. # # # View the full article

As digital transformation reshapes daily life, large public venues are evolving into hubs of digital interaction, becoming smarter and more connected to offer experiences beyond traditional entertainment. By integrating advanced digital signage and technologies, modern arenas showcase the potential of smart infrastructure in elevating visitor experiences. LG’s state-of-the-art LED signage at Nokia Arena serves as a prime example of how technology can enhance both the functionality and allure of public spaces. On October 10, 2024, the World Smart Sustainable Cities Organization (WeGo) and the Seoul Metropolitan Government hosted the 2024 Seoul Smart City Prize Ceremony in Seoul, Korea. This event aimed to promote smart city models that prioritize human well-being alongside technological progress. LG and Nokia Arena received the Seoul Smart City Prize in the Human-CentriCity category for their implementation of cutting-edge digital solutions at the venue in Finland, demonstrating the company’s dedication to enriching event experiences with innovative technology. A landmark of Tampere, Finland, Nokia Arena is a multi-leisure complex featuring a massive state-of-the-art sports arena that accommodates up to 15,000 spectators, alongside tourism facilities such as hotels, restaurants and casinos. Throughout Nokia Arena, LG’s LED signage solutions cover a total of 1,245 square-meters, comprising 456 monitor signage units that seamlessly integrate into the venue, significantly enhancing the fan experience. LG has partnered with various developers to bring its smart technologies to life, focusing on promoting digital inclusion. This includes a range of LG digital signage solutions, including video walls, Transparent OLED Signage and commercial TVs tailored for retail spaces and guest rooms. Upon arrival, visitors are greeted by a massive 180-square-meter LED cube that immerses audiences in stunning visuals, featuring curved round edges that offer a vibrant viewing experience from any angle. A 550-meter Outdoor Ribbon Board LED display surrounds the seating area, adding dynamic motion to the stadium atmosphere. In addition, LG Ultra Stretch signage further enhances the experience by providing helpful information, such as digital advertisements and path guidance As the demand for digital signage grows across various sectors, LG’s innovative LED signage solutions are transforming how businesses connect with their audiences in complex leisure spaces, including stadiums, shopping malls and restaurants. With a human-centered approach, LG is set to lead the future of display technology by delivering intuitive, user-friendly solutions that elevate the overall user experience. To learn more about how LG LED displays are revolutionizing the customer experience around the world, visit LG Digital Connect. # # # View the full article

Kim Hyo-eun, vice president of Global Marketing at LG Electronics, recently shared compelling insights into the LG brand through Forbes BrandVoice. She discussed how LG is spearheading a meaningful business transformation, evolving into a “Smart Life Solution Company” and redefining its brand identity through a bold brand reinvention. Thanks to these efforts, LG was recognized as one of Interbrand’s Best Global 100 Brands for 2024. VP Kim highlighted LG’s unwavering commitment to its brand promise, Life’s Good, and the ethos of “brave optimism” that lies at the heart of the company’s DNA. These principles guide LG’s mission to deliver innovative solutions that enhance everyday living while inspiring confidence in a brighter future. Visit Forbes.com to hear VP Kim talk about LG’s transformative journey and its commitment to serving customers. # # # View the full article

At LG, the philosophy of Life’s Good revolves around promoting positivity and encouraging individuals to adopt an optimistic outlook on life. In alignment with this mission, the company launched the “Optimism your feed” campaign earlier this year. This initiative aims to break the cycle of negativity often perpetuated by social media algorithms, infusing online spaces with a refreshing wave of lighthearted cheer. The “Optimism your feed” playlist features a wide collection of original content aimed at uplifting spirits and spreading hope. By engaging with this playlist, users can teach the algorithm to curate their feeds with similar positive material. Within just three weeks of its launch, the playlist amassed over 1.2 billion views across various social media platforms, demonstrating its widespread appeal and resonance with audiences around the globe. While this campaign seeks to inject positivity into social media, traditional broadcast news often focuses on more serious narratives. In Mexico, for instance, news outlets frequently spotlight stories of violence and organized crime, fostering an atmosphere of sadness and anger that can overshadow positive messages. To counter this trend and promote the brand promise of Life’s Good through traditional media, LG Mexico partnered with Milenio Television, the country’s largest TV news network, to launch a local campaign series titled “Good News Is Also News.” To date, the series has showcased eight true stories of resilience and hope, reminding viewers that there is more to life than negative headlines. Good news exists – and it deserves to be shared. Filled with optimism and love, this initiative has resonated with the public, garnering views and positive feedback across social media and the network’s streaming platforms. The premiere episode features the inspiring journey of two members of the “Pinche Gringo BBQ” team, illustrating how passion and determination can turn dreams into reality. The second installment highlights a street juggler from Mexico City, known as “Corbatín,” who shares his own uplifting story. The third episode introduces Violeta, a teacher at the LG-supported NGO “Villa de las Niñas,” who, despite facing personal loss and hardship, bravely confronts challenges and embraces the future. Following this, the fourth story, “Just Good News,” emphasizes the power individuals have to fill their social media feeds with positivity and joy. This episode aligns with the global “Optimism your feed” campaign, focusing on how algorithms can be trained to deliver uplifting stories when viewers choose to engage with positive content. The fifth episode, titled “Seres Libres,” spotlights an animal sanctuary in Mexico City dedicated to rescuing and caring for abandoned and mistreated animals. This story illustrates how the Life’s Good message extends to all living beings, underscoring the importance of compassion and care for the natural world. The sixth and latest installment tells the story of Litine, a Haitian migrant who arrives in Mexico in search of a better life. His journey exemplifies how brave optimism can help overcome obstacles, as he continues to pursue his dreams with a positive mindset while working at a convenience store. Through nationwide broadcasts, Milenio Television has shared the optimistic message of Life’s Good with over 350 million people. This partnership encourages locals to embrace a positive outlook and apply the “Optimism your feed” initiative to all aspects of life – because, indeed, Life’s Good. Contributed by LG Mexico # # # View the full article

Strategic Restructuring to Enhance Synergy and Drive Growth in Key Business Areas SEOUL, Nov. 21, 2024 — LG Electronics (LG) today announced a series of organizational changes and executive appointments following the approval of its board of directors. This restructuring aims to accelerate the company’s mid- to long-term strategy, “Future Vision 2030,” by enhancing inter-organizational synergy and innovating its business portfolio. The restructuring focuses on regrouping LG’s business operation units* to maximize the potential of existing businesses, strengthen platform-based service operations, accelerate B2B initiatives and secure new growth engines in promising sectors. These changes are designed to enhance efficiency through the strategic selection and concentration of capabilities, thereby creating greater synergy between businesses and bolstering future competitiveness. To spearhead this transformation, LG has appointed skilled individuals with exceptional expertise, emphasizing the enhancement of the company’s long-term competitiveness through the development of high-performing organizations. Key Changes in Business Structure A new Company will be established to bolster the growth of the heating, ventilation and air conditioning (HVAC) business, a crucial component of LG’s B2B acceleration strategy. The Overseas Sales & Marketing Company will now function as the overseas B2B control tower. Additionally, display-based operations – including TVs, monitors and signage – will be integrated to foster synergies and expand platform-based service businesses. New growth engines will be strategically relocated to Companies with greater business relevance, ensuring more stable support and creating synergies across business areas. All four Companies will now incorporate “Solution” in their names, reflecting LG’s evolution into a Smart Life Solution provider that connects and enhances customer experiences across various environments, including homes, commercial spaces, mobility and virtual platforms. Restructuring of Companies LG has restructured its four Companies into the Home Appliance Solution (HS) Company, the Media Entertainment Solution (MS) Company, the Vehicle Solution (VS) Company and the Eco Solution (ES) Company. This reorganization redefines their roles and identities within LG. The H&A Company will be renamed HS Company to align with its vision of “Zero Labor Home, Makes Quality Time.” To support this vision, LG will move the Platform Business Center – responsible for the planning, development and operation of LG ThinQ – directly under HS Company. This strategic realignment aims to establish HS Company as a leader in AI solutions across diverse spaces, including homes, commercial areas and vehicles, effectively addressing customer needs outside traditional home settings. Furthermore, HS Company will incorporate the Robot Business Division from the BS Company to integrate core robot technologies into its home robot solutions. Lyu Jae-cheol will continue to lead HS Company. The HE Company will change its name to MS Company to align with its goal of becoming a media and entertainment platform powerhouse. It will integrate the Information Display business and Information Technology business from the BS Company with its TV business to create synergies in hardware and platform operations. Park Hyoung-sei will continue to lead the MS Company, driving its transformation into a media and entertainment platform. The MS Company will accelerate the expansion of platform-based service business areas by broadening the application of webOS, which was primarily used in smart TVs, to monitors, signage and in-vehicle infotainment systems. webOS will evolve into an integrated content and services platform for both indoor and outdoor use, enhancing competitiveness through synergy and improved business structure. The VS Company will clarify its role by changing its name from Vehicle component Solutions Company to Vehicle Solution Company, emphasizing its commitment to providing innovative solutions across the entire automotive ecosystem. Eun Seok-hyun will continue to lead the company. The ES Company has been newly established. The HVAC business, previously part of the H&A Company and a significant contributor to LG’s B2B growth, will now operate as a standalone entity under the ES Company. Lee Jae-sung, the current head of the Air Solution Business Division, will lead the ES Company, ensuring continuity in the HVAC business and maintaining its strategic direction. Given the project-based nature of the HVAC business and the specific characteristics of the market and its customers, LG has determined that operating it as an independent Company will maximize future competitiveness and growth potential. With the establishment of the ES Company, LG aims to position itself as a global leader in comprehensive air solutions. Additionally, the ES Company will assume responsibility for the electric vehicle charging business from the BS Company and play a pivotal role in driving B2B growth within the clean tech sector, one of LG’s key future growth engines. Meanwhile, to enhance the competitiveness of overseas B2B operations, LG will establish the B2B Business Capability Enhancement Division under the Overseas Sales & Marketing Company. The Chief Strategy Office (CSO), acting as LG’s future strategy control tower, will also oversee AI acceleration and respond to global AI developments. The Chief Digital Office, previously responsible for digital transformation, will be reorganized into the DX Center and transferred directly under the CSO. The DX Center will focus on driving business performance through generative AI technologies and will be led by Cho Jung-bum. The executive appointments emphasize the selection of diverse talents with proven expertise in sales, services and R&D. Jung Pil-won, currently leading the TV Overseas Sales & Marketing Group, has been appointed as the MEA Region Representative, recognizing his extensive experience in overseas sales management and his deep understanding of the Middle Eastern and African markets. Additionally, Kim Jung-ho, Kim Yoo-seon and Choi Jung-won, who head the subsidiaries in Saudi Arabia, Poland and Malaysia respectively, have been promoted to executive positions in acknowledgment of their significant contributions to business growth. All appointments are effective December 1, with promotions taking effect on January 1. # # # * LG’s major business operation units are called “Companies.” View the full article

Curated Collection of Captivating Animated Movies Arrive to LG 1 Channel in Five European Countries SEOUL, Nov. 19, 2024 — LG Electronics (LG) is set to deliver a remarkable lineup of heartwarming content from DreamWorks Animation and Illumination to France, Germany, Italy, Spain and the UK. This will be available through its free ad-supported channel, LG 1, as well as the easily accessible Kids & Family tab on LG Channels, which is dedicated to offering a wide selection of family-friendly content. This new partnership with NBCUniversal (NBCU) Global TV Distribution will let families discover a rich variety of must-watch movies from the comfort of their home this holiday season. LG Smart TV owners are gaining access to a vast library of beloved films from DreamWorks Animation, including Puss in Boots,1 a hilariously funny film about the one-and-only swashbuckling feline who is on the adventure of his nine lives as he teams up with Kitty Softpaws and Humpty Dumpty for the ultimate showdown with the notorious Jack and Jill; and Trolls,2 a musical adventure filled with heart, hilarity and happiness that follows two mismatched friends who must work together in perfect harmony to save the day after their village is invaded by the grumpy Bergens. Other fan-favorites coming to LG Smart TV screens include How to Train Your Dragon3 and Kung Fu Panda.4 How to Train Your Dragon is a captivating, fun and original story packed with fire-breathing action, epic adventure and big laughs where we follow Hiccup, a young Viking who defies tradition, as he befriends one of his deadliest foes – a ferocious dragon he calls Toothless. Together, these unlikely heroes fight against the odds to save both their worlds in this wonderful, feel-good hit. In Kung Fu Panda, noodle-slurping dreamer, Po, must embrace his true self – fuzzy flaws and all – in order to become the real Dragon Warrior. Next up is Madagascar,5 a delightful story of four pampered animals from New York’s Central Park Zoo who find themselves shipwrecked on the exotic island of Madagascar and discover it really is a jungle out there! Viewers will also love Megamind,6 a hilarious twist on the superhero genre. Super villain Megamind’s dreams have come true when he conquers the city’s protector, Metro Man, gaining control of Metro City. But when a new villain is created and chaos runs rampant, the world’s biggest “mind” and his comic sidekick might actually save the day. LG Smart TV owners can also discover an exciting curated collection of movies from Illumination, including Dr. Seuss’ The Lorax,7 a fantastical and wildly imaginative 3D animated adaptation of the classic Dr. Seuss environmental conservation fable that recounts the story of Once-ler, an ambitious and enterprising creature who – despite the warning of the Lorax – destroyed all the town’s trees for his once thriving factory, leaving nothing but one seed; and Hop,8 which mixes live-action and animation to tell the story of Fred, an out-of-work slacker who accidentally injures the Easter Bunny and must take him into his home as he recovers. As Fred struggles with the world’s worst houseguest, both will learn what it takes to finally grow up. LG will continue to partner with renowned entertainment companies around the world to offer enriched content and services designed to captivate LG Smart TV users worldwide. Stay tuned to LG Newsroom for the latest news. # # # 1 Available in France. 2 Available in the UK. 3 Available in Italy. 4 Available in the UK. 5 Available in Germany. 6 Available in France, Italy and the UK. 7 Available in Germany and Spain. 8Available in Italy. View the full article

In this installment of On the Job, we explore LG’s IR Division and their efforts to communicate with key stakeholders, sharing progress updates and future plans to enhance the company’s value. Effective investor relations (IR) are critical to a company’s success, fostering transparency by providing clear and accurate information to investors, analysts and other stakeholders. The role of IR professionals is evolving globally to encompass important corporate functions including sustainability. Rather than merely serving as liaisons between the organization and the financial community, IR teams are increasingly becoming strategic partners, playing a vital role in advancing Environmental, Social and Governance (ESG) initiatives that go beyond traditional sustainability reporting. As a company that has always prioritized transparent communications with customers or investors alike, LG has carefully constructed a highly skilled team of IR practitioners. In this installment of On the Job, we get an “up close” look at LG’s IR Division to learn about their tasks, the challenges they face and what motivates them to excel in their field. The primary mission of an IR organization is to ensure fair business valuation, create an environment conducive to raising funds through capital markets and maintain a stable shareholder base. “To achieve this, our Division handles a range of tasks, from responding to investors and overseeing corporate disclosures to announcing earnings and conducting business briefings and shareholder meetings,” said Park Won-jae, head of IR Division at LG Electronics. IR activities can be broadly categorized into three main areas: enhancing capital market integrity by ensuring compliance with relevant regulations and laws in information sharing; communicating with investors about the company’s management status, strategies and vision through corporate presentations and conferences; and collaborating with related organizations, such as finance, to establish shareholder return policies like dividends or share buybacks to enhance shareholder value. LG’s IR Division consists of the IR Planning Team and the IR Communications Team. The IR Communications Team focuses on managing interactions with Korean and international investors and handling activities that require a high level of external engagement. Meanwhile, the IR Planning Team oversees policy-related tasks, such as company information disclosures and shareholder meetings. Given that each team handles different types of tasks with varying scopes of collaboration and expected outcomes, team members need to possess skills and expertise tailored to their specific responsibilities. “Members of the IR Planning Team must possess a strong awareness of compliance and a thorough understanding of relevant systems and regulations,” stated Lee Seung-ju, head of the IR Planning Team. “In contrast, the IR Communications Team requires exceptional communication skills, as their role involves extensive interaction with both Korean and global investors.” Additionally, it is crucial for members of both teams to have a comprehensive understanding of capital markets, the industry landscape and the various segments of the company’s operations. The daily routines of LG’s IR Division members are significantly influenced by the time of year. “Our work follows a distinct cycle that typically aligns with quarterly, semi-annual and annual financial reporting schedules,” explained Kim Seung-hyun, head of the IR Communication Team. “Key recurring tasks include annual events such as the general shareholder meeting, quarterly earnings announcements and Non-Deal Roadshows (NDRs).* As these dates approach, our focus shifts to organizing these events.” For instance, quarterly earnings announcements are generally shared in late April, July, October and January. “In the roughly 20 days leading up to these announcements, we collaborate closely with various organizations across business units to shape the company’s message to the market,” explained Kim. “We carefully consider how this information might impact our stakeholders once it becomes public.” The annual general shareholder meeting also demands significant attention, as the IR teams must adhere to strict legal procedures under Korea’s Commercial Act. “We typically begin preparations in the fourth quarter for a meeting scheduled for next March, where we will discuss the previous year’s financial results,” added Lee. In contrast to these predictable, routine activities, the capital markets are constantly evolving, necessitating flexibility and precision in communications and shareholder policy. “Since we are influenced by external variables, our non-routine tasks often involve new or unfamiliar situations, making IR work highly dynamic,” said Kim. Skilled, creative and highly dedicated, LG’s IR Division has garnered recognition for its stellar work and commitment to transparent communications. Recently, the Division was honored with the Financial Services Commission Chairman’s Award (Grand Prize) at the 2024 Korea IR Awards hosted by the Korea Investor Relations Service. This accolade is not their first; they received the Grand Prize in the Corporate category in 2021 and the IR Council Chairman’s Award (Excellence Award) last year. This recognition is particularly meaningful as corporate value enhancement has become a key focus in global capital markets. LG has been acknowledged by capital market authorities and experts from various fields for its ongoing efforts to communicate with the market in a structured and sincere manner. LG’s IR Division has been actively incorporating Future Vision 2030, the company’s mid- to long-term strategic direction, into investor communications. With this far-reaching vision, LG aims to drive sustainable growth by transitioning to a future-oriented business model while building on the world-class competitiveness and expertise it has developed over decades in core businesses such as home appliances. The IR Division’s consistent and genuine commitment to enhancing both corporate and shareholder value has been widely praised. Since the Future Vision 2030 announcement last July, the company has bolstered external communications around business performance and direction. At major IR events, such as the general shareholder meeting, corporate presentations for international investors and investor forums, top LG executives – including the CEO and CFO – have engaged directly with the market in an open, transparent manner. Starting this year, LG has elevated its regular earnings conference calls. Previously led by IR and business unit management executives, the calls are now directly managed by the CFO. Additionally, early this year, LG announced a new three-year dividend policy to improve shareholder value, featuring an increased payout ratio, a minimum annual dividend and semi-annual dividend payouts. In August, LG led Korea’s top 10 conglomerates by pre-announcing a value-up program focused on enhancing enterprise value. Then, on October 22, LG unveiled its “Corporate Value Enhancement Plan,” integrating its Future Vision 2030 with additional shareholder initiatives, including a target return on equity (ROE) of 10 percent or higher by 2027. Future actions under consideration include canceling existing treasury shares, additional share buybacks and potentially adopting quarterly dividends. “Through these steps, we’re consistently demonstrating a sincere and proactive commitment to both corporate and shareholder value enhancement,” explained Lee. Corporate value isn’t just about the numbers on financial statements; it also includes intangibles like future growth potential, the company’s image and brand value. “We have the major responsibility of representing LG Electronics and communicating its true corporate value to the market,” noted Kim. “We strive to be a model IR organization – one that embodies professionalism, passion and authenticity.” Stay tuned to LG Newsroom to learn more about other teams and roles at LG Electronics. # # # * Non-Deal Roadshow (NDR) is an activity where a company’s management meets with investors, analysts and other stakeholders to provide insights into the company’s business strategy, financial performance and future outlook. Unlike a Deal Roadshow (DR), which is focused on promoting a specific securities offering or transaction, NDRs can be seen as an IR activity targeting existing shareholders. View the full article

Designed for Ultimate Gaming Immersion, the New GX7 Features Advanced WOLED Technology and Cutting-Edge Connectivity SEOUL, Nov. 18, 2024 — LG Electronics (LG) is unveiling its latest, premium UltraGear OLED gaming monitor GX7 (model 27GX790A). Designed for serious gamers, the new model features a 27-inch, QHD resolution (2,560 x 1,440) WOLED display with a 0.03milliseconds Gray-to-Gray (GTG) response time and a 480Hz refresh rate – the fastest of any QHD OLED monitor. The 27GX790A, the most compact UltraGear OLED display yet, delivers enhanced gaming immersion with exceptional picture quality, silky-smooth performance and 4-side virtually borderless design. It also works seamlessly with the newest graphics cards, thanks to an array of advanced connectivity options, including DisplayPort 2.1. The all-new 27GX790A is equipped with LG’s WOLED display technology, which employs a white OLED light source with color filters to produce accurate RGB colors and impressive screen brightness. This technology provides a high contrast ratio, vibrant colors, deep blacks and excellent motion clarity – even during the most fast-paced gaming action – LG’s WOLED tech has earned the new UltraGear OLED gaming monitor both VESA DisplayHDR True Black 400 certification and highest VESA ClearMR tier. Additionally, the 27GX790A offers NVIDIA G-SYNC® compatibility and AMD FreeSync Premium Pro support, further enhancing the gaming experience by eliminating distracting screen-tearing and flickering. The application of LG’s Anti-Glare & Low Reflection (AGLR) Coating provides a more comfortable gaming experience in brighter rooms, enabling gamers to see what’s happening on screen without difficulty. Incorporating DisplayPort 2.1 and HDMI 2.1 interfaces, the 27-inch UltraGear OLED gaming monitor ensures compatibility with the latest consoles and gaming PCs, as well as next-generation GPUs expected to launch in early 2025. DisplayPort 2.1 yields a 67 percent increase in bandwidth compared to DisplayPort 1.4, meaning it can support higher resolutions and refresh rates. Contributing to a cleaner gaming setup, the monitor’s slim, flat L-shaped stand lets users place their keyboard on top of its base and offers ergonomic comfort and customizability with a swivel range of -30 to 30 degrees. It also comes with a 4-pole headphone jack to allow convenient in-game communications via headset and supports DTS Headphone:X. DTS’s three-dimensional audio solution for headphones provides accurate sound positioning, helping users pinpoint where noises are coming from – which can mean the difference between victory and defeat in intense FPS or online battle royale games. “An ideal choice for serious gamers, the 27GX790A boasts a 27-inch OLED screen with an exceptionally fast 480Hz refresh rate,” said YS Lee, vice president and head of the IT business unit of LG Business Solutions Company. “Our new UltraGear OLED gaming monitor is perfect for both console and PC gaming, offering a range of connectivity options and compatibility with the latest gaming hardware. The LG UltraGear brand will continue to provide high-performance monitors that enhance every aspect of the gaming experience.” Specifications: 　 LG UltraGear OLED Gaming Monitor GX7 (27GX790A) Display Type WOLED (Anti-Glare & Low Reflection (AGLR)) Screen Size 27-inch Design 4-side Virtually Borderless Design Resolution 2,560 x 1,440 Color Gamut DCI-P3 98.5% Refresh Rate (Max.) 480Hz Response Time 0.03ms GTG HDR VESA DisplayHDR True Black 400 Highest VESA ClearMR tier Adaptive Sync NVIDIA G-SYNC® Compatible AMD Free-Sync Premium Pro Connectivity HDMI 2.1 x2 DisplayPort 2.1 x1 USB3.0 1up 2down 4-pole headphone out (DTS Headphone:X) Stand Tilt (-5° to +15°) Swivel (-30° to + 30°) Pivot Height (110 mm) Wall Mountable (100 mm x 100 mm) # # # View the full article

The LG Styler Steam Clothing Care System has become an essential appliance in many Taiwanese households, addressing health concerns as well as enhancing clothing appearance. On October 9, LG Taiwan hosted a press conference to mark the official launch of the ALL NEW Styler. For the first time, LG Taiwan collaborated with Taipei Fashion Week, creating a massive Styler-shaped pop-up store in the Xinyi Xiangti Avenue Plaza. The exhibition space was designed to make guests and media feel as though they were stepping inside the Styler. Attendees could try out the LG ALL NEW Styler and get a firsthand look at features typically hidden when the machine is in operation. LG Taiwan also partnered with acclaimed independent design brand DOUCHANGLEE, co-founded by renowned fashion designers Dou Teng Hwang and Changlee Yugin. The designers attended the event to endorse the LG Styler, showcasing how the product enables consumers to express their style without the limitations of traditional clothing care. The pop-up store featured demonstrations of the LG ALL NEW Styler’s powerful new functions, including the upgraded Dual Steam Clothing Care technology and the Smart Shaking Hanger. Guests experienced AI-powered care recommendations, a built-in high-pressure steam iron and a foldable pants press. The event provided plenty of valuable material for the media. Designers Dou Teng Hwang and Changlee Yugin took the stage to share their experience working with LG Taiwan, praising the ALL NEW Styler’s steam care capabilities and built-in steam ironing system. They also discussed how the installation of the LG Styler at DOUCHANGLEE’s Zhongshan concept store introduced a new perspective on garment care to consumers. LG Styler’s latest showcase highlighted the brand’s innovative fusion of technology and fashion-forward design. Through an impressive life-sized display, the premium garment care solution demonstrated how advanced technology can transform daily clothing care routines, reinforcing LG’s position as a leader in sophisticated home appliance solutions that resonate with style-conscious consumers. Contributed by LG Taiwan # # # View the full article

Smart Life Solution Company Honored in Diverse Categories, Taking Home Trio of Best of Innovation Awards SEOUL, Nov. 14, 2024 — LG Electronics (LG) has garnered significant recognition for its cutting-edge smart life solutions at the CES® 2025 Innovation Awards, securing over 20 awards, including three prestigious Best of Innovation Awards. The CES Innovation Awards program, presented annually by the Consumer Technology Association, celebrates groundbreaking consumer products and services across a diverse array of device and technology categories at the world’s largest consumer technology tradeshow. LG’s impressive collection of CES 2025 Innovation Awards, which includes three “Best of Innovation” honors, underscores the company’s commitment to design and technological innovation. LG’s solutions are being recognized across multiple categories, including Artificial Intelligence (AI), Home Appliances, Gaming & eSports, Imaging, Video Displays, Computer Hardware & Components, Smart Cities and Cybersecurity. A highlight of LG’s achievements being honored at CES 2025 in Las Vegas next January is the LG OLED TV, which received six Innovation Awards, including the Best of Innovation Award in the Video Displays category. This marks the third consecutive year that the LG OLED TV has been recognized with Best of Innovation honors. Since their debut in 2013, the LG OLED TVs have earned at least one CES Innovation Award each year, solidifying its dominance in the premium TV market. In addition, LG’s webOS smart TV platform, a cornerstone of the company’s platform-based service business, was honored with an Innovation Award in the Cybersecurity category. LG’s “Affectionate Intelligence” AI home hubs also received accolades at the CES 2025 Innovation Awards. These advanced devices exemplify the company’s “AI Home” concept, providing new value to customers and representing a significant advancement in smart home living. The Self-Driving AI Home Hub, which won Innovation Awards in both the AI and Smart Home categories, features multimodal sensing capabilities that integrate voice, sound and image recognition. LG ThinQ ON, an AI home hub powered by generative AI, also earned a CES Innovation Award. Acting as the “brain” of the AI Home, LG ThinQ ON maintains seamless connectivity among home appliances and IoT devices around the clock. The LG UltraGear OLED Gaming Monitor garnered three awards at CES 2025, including the Best of Innovation in the Gaming & eSports category, as well as an Innovation Award in the Imaging category. This advanced monitor merges the exceptional picture quality of OLED with an optimized viewing experience tailored for gamers. Alongside the UltraGear OLED Gaming Monitor, other innovative LG products received awards, including the LG gram Pro 2-in-1, LG MyView Smart Monitor, LG UltraFine monitor and LG CineBeam projector, demonstrating the company’s extensive influence across technology categories. The complete list and details of LG’s CES 2025 Innovation Award winners will be revealed at CES 2025 on January 5. # # # View the full article

In its pursuit of automotive solutions that prioritize safety and reliability, LG has achieved several impressive milestones in the automotive security space. In August, the company’s Vehicle to Everything (V2X) solution for Volkswagen received the world’s first Common Criteria certification for security stability in the V2X category. This certification confirms that LG’s VW Transceiver Module and V2X technology offer comprehensive protection against unauthorized access or interference and comply with global IT security standards. At the 5G Automotive Association (5GAA) conference in Berlin, Germany, from October 21-24, LG introduced its latest innovations in future mobility: “Soft V2X” and “Smart Roadside Units (RSU).” This integrated traffic safety solution leverages V2X technology to collect and anonymize data, such as the location, direction and speed of pedestrians and vehicles. This data is shared and analyzed in real-time via the Soft V2X Cloud and various devices equipped with Soft V2X software, allowing for timely alerts to users regarding potential dangers. In addition, Soft V2X collaborates with Smart RSUs to provide essential safety information like traffic conditions, potential hazards and signals timings. The software is engineered for compatibility with a range of autonomous vehicles and delivery robots, opening up possibilities for future mobility applications. LG is leading the development of Soft V2X and Smart RSU, utilizing the results of these validations as a foundation to evolve toward Harmonized V2X. LG is continuously strengthening and maintaining its leadership by proposing the technological direction and validating every step of the way. Through these advancements, LG engaged with global companies at the conference, encouraging them to join in this strategic journey. The company outlined the steps toward Harmonized V2X, emphasizing its practicality and efficiency. Many global companies resonated with this vision, positioning the commercialization of V2N services as a top priority on the 5GAA roadmap. During the conference, LG offered attendees a firsthand experience of its integrated safety solutions in real-world conditions by inviting them to ride in vehicles and shuttles along a 5.6-kilometer stretch of road in Berlin equipped with various V2X technologies. A video demonstration illustrated the numerous use cases and technologies involved. The demonstration showcased how the system enhances road safety. For example, if a pedestrian, cyclist and driver all use the Soft V2X app, the applications can detect each other and share anonymized information. This allows the driver to receive alerts to slow down if a pedestrian or cyclist is approaching a crosswalk (or jaywalking) at high speed. The app also provides real-time updates about approaching emergency vehicles or construction work, enabling the driver to adjust their route for a more efficient journey. Even in situations where a pedestrian is not using the app, the vehicle’s application can still receive data from surrounding Smart RSUs to notify the driver. In Berlin, Kim Hak-seong, leader of Advanced V2X Task at LG Electronics, presented “Steps Forward for V2X Evolution,” focusing on pilot projects making school and kindergarten zones safer in South Korea. LG is also ensuring global compliance for seamless market integration. The company is well-designed to meet global standards, enabling seamless, sustainable and scalable market expansion. It complies with European Telecommunications Standards Institute (ETSI) standards for the European region, as well as Society of Automotive Engineers (SAE) standards for the North American region. As a founding member of the 5GAA, LG collaborates with leading global automakers, telecommunications companies and automotive component manufacturers to develop autonomous driving and traffic safety technologies. With Soft V2X and Smart RSU technologies as cornerstones for future connected mobility V2X solutions, LG is continuously pursuing the next step, known as Hybrid V2X. This involves integrating V2X direct communication with V2X network communication to improve various aspects such as coverage extension, high reliability, scalable architecture, versatile devices and various vertical industries. To extend its lead in the global market, LG continues to introduce new and improved traffic safety and autonomous driving solutions, including Soft V2X. This underlines the company’s commitment to realizing innovative solutions that not only bolster people’s safety today but also bring future mobility closer to fruition. Stay tuned to the LG Newsroom to learn about the countless ways its latest technologies are changing the world for the better. # # # View the full article

Collaboration Spans On-Device AI, Future Mobility and More SEOUL, Nov. 12, 2024 — LG Electronics (LG) and Tenstorrent are pleased to announce an expanded collaboration, building on their initial chiplet project to develop System-on-Chips (SoCs) and systems for the global market. Through this partnership, LG aims to enhance its design and development capabilities for AI chips tailored to its products and services, aligning with its vision of “Affectionate Intelligence.” LG is dedicated to advancing AI-driven innovation, with a focus on enhancing its AI-powered home appliances and smart home solutions, as well as expanding its capabilities in future mobility and commercial applications. Recognizing the critical role of high-performance AI semiconductors in implementing AI technology, LG plans to strengthen its in-house development capabilities while collaborating with leading global companies, including Tenstorrent, to boost its AI competitiveness. Tenstorrent is renowned for its ability to design world-class high-performance computing (HPC) semiconductors using its RISC-V* IP (Ascalon) and AI IP (Tensix). Their IP is engineered to scale from milliwatts to megawatts, delivering exceptional efficiency and performance. Recently, LG CEO William Cho met with Tenstorrent CEO Jim Keller at the LG Twin Towers in Yeouido, Seoul, to discuss strategic collaboration. The meeting was attended by key executives from each company, including LG’s CTO Kim Byoung-hoon and the head of the SoC Center, as well as Tenstorrent’s CCO David Bennett and VP of Automotive. During their discussions, the two companies explored opportunities to leverage their intellectual properties, design assets and technologies, aiming to create synergies across various business areas including AI home appliances, smart home solutions, future mobility, and video processing solutions for the data center market. Both CEOs emphasized the importance of enhancing capabilities in next-generation system semiconductors, including RISC-V and chiplets, to navigate the rapidly evolving AI landscape. Additionally, Tenstorrent and LG are considering the establishment of a long-term internship program as part of their collaboration. LG is committed to advancing its AI-related software and algorithm technologies to provide customers with products, platforms and services based on generative AI. This includes the development of AI chips to secure competitiveness in on-device AI technology. “Tenstorrent is bringing the industry’s best AI and RISC-V technology to this collaboration,” said William Cho, CEO of LG Electronics. “We aim to deliver a new customer experience through our unique Affectionate Intelligence, focusing on personalized, caring and attentive solutions that better understand our customers and can provide tangible value.” “LG has a strong SoC development organization and Tenstorrent is excited to continue to partner with them,” said Jim Keller, CEO of Tenstorrent. “Customers are looking for customizable solutions – our AI and RISC-V technology enables LG to own their silicon future.” Meanwhile, LG has established a dedicated SoC R&D center specializing in system semiconductor design and development. The SoC Center excels in the design, development and verification of these chips, focusing on advancing high-performance SoCs using the chiplet technology. Chiplet technology integrates multiple chips into a single package and is gaining attention due to the rising demand for high-performance, low-power AI semiconductors. The system chips used in LG’s key products have all been developed under the leadership of the SoC Center. LG’s proprietary AI chip for home appliances, “DQ-C,” and the “LG α (Alpha) 11 AI Processor” for OLED TVs have significantly strengthened the company’s leadership in the global AI appliance and premium TV markets. As AI becomes increasingly pivotal in the industry, the importance of system chip design capabilities is growing across all business areas. LG is continuously enhancing its system semiconductor design capabilities and linking them with AI-related software and algorithm technologies to proactively prepare for the future. Ultimately, the goal is to provide Affectionate Intelligence solutions in all everyday spaces, offering a differentiated customer experience. # # # * RISC-V is an open-source instruction set architecture (ISA) based on reduced instruction set computing (RISC) principles, allowing for flexible and customizable processor designs. View the full article

Revolutionary Vision Display, Intelligent HMI and Connectivity & Content Solutions Redefine the Smart Mobility Experience SEOUL, Nov. 11, 2024 — LG Electronics (LG) is introducing the Digital Cockpit gamma, the latest addition to its Mobility Labworks Series, which showcases advanced technology concepts for the automotive industry. This new model is the third in the series, following the introduction of the alpha and beta models last year. The Digital Cockpit gamma is equipped with LG’s most sophisticated vehicle technologies and features three modular solutions: the Vision Display, Intelligent Human-Machine Interface (HMI) and Connectivity & Content. These modular systems offer significant customization options within the vehicle cabin, allowing automakers to tailor features to meet the specific requirements of each design. For end-users, the Digital Cockpit gamma delivers superior convenience and seamless connectivity, revolutionizing in-car entertainment, communications, and driver assistance systems. This innovation provides a compelling glimpse into the exciting future of mobility. Vision Display: Shaping the Future of Automotive Interiors Presenting a range of new possibilities for future automotive interiors, the Vision Display solution is designed to adapt seamlessly to dynamic environments. Its 12.3-inch Transparent OLED screen offers key data to inform and entertain passengers during autonomous driving, displaying real-time navigation, current speed and points of interest (POI). LG’s solution also features a 14.2-inch roll-in-and-out Plastic OLED (P-OLED) display embedded in the center console, which can be retracted when not in use, maintaining a clean and minimalist cabin space. Intelligent HMI Solution: Intuitive AI-Driven User-Vehicle Interaction The Intelligent HMI solution leverages AI and responsive touch technology to provide easy, intuitive user-vehicle interactions. A key feature is the adaptive controller, a touch-sensitive curved OLED display integrated into the steering wheel, allowing drivers to effortlessly manage navigation, multimedia and climate-control settings, complete with haptic feedback for a more tactile experience. In autonomous driving mode, the adaptive controller can make the journey more enjoyable by providing access to entertainment apps and games. Furthermore, LG’s AI-based virtual assistant offers smart support for various situations. For example, if it detects driver fatigue, it can order a coffee from a nearby location and facilitate quick payment via the screen’s built-in fingerprint-recognition sensor. The Intelligent HMI solution also supports the Advanced Television Systems Committee (ATSC) 3.0 standard, enabling system updates and real-time emergency alerts without requiring a network connection. Connectivity & Content Solution for Seamless Entertainment and Smart Mobility The Connectivity & Content solution transforms the rear passenger seats into an interactive entertainment hub, enhancing in-car experiences through 5G network connectivity and LG’s webOS platform. Passengers can stream high-definition content, access live broadcasts, interact with POI data, share their screen via the in-car screen-mirroring feature, and navigate content and control volume using hand gestures. Supporting a number of different ride-sharing apps, the webOS-based Connectivity & Content also represents a convenient solution for owner-drivers. “Digital Cockpit gamma demonstrates LG’s leadership in cutting-edge in-vehicle innovations and our dedication to creating working concepts of transformative technologies for future commercialization in the automotive industry,” said Eun Seok-hyun, president of LG Vehicle component Solutions Company. “We will continue to provide customizable vehicle solutions that enhance the in-car experience, ensuring seamless connectivity and a smarter, safer on-road environment.” To explore the futuristic innovations featured in the Mobility Labworks Series, visit LG VS Company website. # # # View the full article

104 Young Participants From 16 Countries Showcase IT Skills, Embracing New AI and Coding Challenges SEOUL, Nov. 8, 2024 — LG Electronics (LG) recently concluded the 2024 Global IT Challenge (GITC) for Youth with Disabilities in Manila, Philippines, reinforcing its commitment to empowering young people with disabilities. Held from November 3-8, this year’s GITC brought together 104 participants from 16 countries to compete in six innovative IT challenges. After advancing through national preliminary rounds, the finalists tested their abilities across diverse digital tasks. The challenges included eTool, which assessed participants’ ability to create presentation slides and manage spreadsheets; eLifeMap, which focused on online search and image retrieval skills; eContent, an evaluation of video editing and production capabilities; and eCreative, where participants coded a self-driving car program and proposed technological concepts aimed at enhancing the quality of life for people with disabilities. This year, GITC introduced a new assessment for generative AI proficiency, allowing participants to demonstrate adaptability and creativity – skills increasingly sought after in the IT field. The 2024 GITC winner, Zulzahirah Binti Mohd Anwar from Malaysia, excelled across multiple categories, expressing pride in competing alongside peers with shared aspirations and in building global friendships. Since its inception in 2011, GITC has opened pathways into the IT profession for young people with disabilities, equipping them with ICT skills and boosting their confidence. Over 13 years, the competition has seen approximately 5,000 young participants from 40 countries, with many alumni pursuing successful careers in IT and related fields. Notably, Aikeo Koomanivong, a visually impaired 2014 participant, now directs a disability service center in Laos, where he has pioneered accessible technologies, including free braille software. Aligned with LG’s Better Life for All vision, GITC embodies the company’s broader commitment to diversity and inclusion. LG is also actively working to enhance the accessibility of its services and products through initiatives such as the LG Comfort Kit, braille stickers and sign language customer service centers. “GITC has been a stepping stone for nearly 5,000 young adults with disabilities, empowering them to overcome barriers and become competitive IT talent,” said Yoon Dae-sik, senior vice president of External Relations at LG Electronics. “We remain dedicated to supporting individuals with disabilities as they refine their skills and build self-confidence, helping them realize their dreams in IT field.” Through GITC and similar initiatives, LG continues to champion inclusivity and accessibility, providing young people with disabilities the tools and support needed to thrive in a technology-driven world. # # # View the full article

Equipped With Cutting-Edge AI Technologies, the Company’s Large-Capacity Commercial Washers and Dryers Deliver Excellent Energy Efficiency SEOUL, Nov. 7, 2024 — LG Electronics (LG) is showcasing its PROFESSIONAL LAUNDRY lineup at Texcare International 2024, a global B2B laundry and textile care exhibition, held in Frankfurt, Germany, from November 6-9. Prioritizing energy efficiency, the new lineup features a variety of large-capacity solutions, including 30-kilogram washers and dryers, as well as a washer-dryer combo with heat pump, offering a maximum capacity of 25 kilograms for washing and 16 kilograms for drying. With the launch of its PROFESSIONAL LAUNDRY lineup, LG aims to strengthen its position in the commercial laundry market, both in Europe and worldwide. LG’s comprehensive range of large-capacity commercial washers and dryers provides several outstanding options for customers to choose from. The new PROFESSIONAL LAUNDRY lineup features 20-, 25- and 30-kilogram washers, as well as 25- and 30-kilogram dryers, along with a 25- kilogram washer-dryer combo. These solutions are equipped with LG’s advanced AI technology, which automatically adjusts water usage and washing/drying times based on load size, enabling a complete cycle in just 60 minutes.* Along with energy efficiency, LG’s PROFESSIONAL LAUNDRY lineup boasts outstanding durability. The new washers feature the company’s Ball Balancing System, which supports a maximum spin speed of 1,100 RPM and enhances stability during high-speed washing cycles. The 25-kilogram washer-dryer combo stands out as one of the largest models in the heat pump combo category and is the industry’s first commercial combo to employ an inverter heat pump drying module. This proprietary technology significantly reduces drying times and boosts energy efficiency. Ideal for businesses with high laundry demands, such as hotels and care facilities, LG’s impressive heat pump combo represents a reliable, energy-efficient alternative to traditional gas and electric dryers. LG’s commercial laundry solutions deliver further value with Proactive Customer Care, a smart service that actively monitors the machines’ operational data to identify potential issues before they arise. This service sends alerts to facility managers through the LG Laundry Crew app, allowing them to take preventive measures and avoid any service interruptions. In addition, the machines are equipped with features designed to safeguard performance, such as Tub Cleaning, which helps maintain hygienic conditions within the drum. Since entering the global commercial laundry market in 2008, LG has consistently expanded its influence within the segment. Earlier this year, the company strengthened its partnership with WASH, a leading North American laundry service provider, to increase its presence in the growing U.S. and Canadian markets for laundry solutions in multi-family housing and university dormitories. LG also continues to showcase its innovations globally, with a successful appearance at the Clean Show 2022 in the U.S. and now at Texcare International 2024 in Germany. With its new PROFESSIONAL lineup leading the way, LG plans to continue expanding its presence in Europe’s commercial laundry solutions sector. The company’s high-efficiency washer and dryer technologies will play a key role in helping commercial laundry operations lower their energy consumption. “Building on our success in the residential washer and dryer market, we are now accelerating our efforts to lead the commercial laundry sector and are excited to launch our innovative, energy-efficient PROFESSIONAL LAUNDRY lineup,” said Lyu Jae-cheol, president of LG Electronics Home Appliance & Air Solution Company. “Texcare International 2024 is a notable opportunity to grow our commercial laundry business and strengthen our standing in the global market, particularly in Europe.” # # # * Based on an IEC standard load of 7 kilograms for washing and drying courses. Actual results may vary depending on usage environment and washing conditions. View the full article

Simplifying Complex Driving With Intuitive Navigation Guidance SEOUL, Nov. 6, 2024 — LG Electronics (LG) has been awarded the prestigious “King Sejong Award” at the 2024 Technology Patent Awards for its pioneering augmented reality (AR) technology designed for vehicles. This annual event, organized by the Korean Intellectual Property Office, recognizes patents registered within the past decade that contribute to enhancing South Korea’s industrial competitiveness. The patent for LG’s advanced vehicle AR technology was submitted both domestically and internationally in 2022. This innovative system aims to improve the future mobility experience by leveraging AR to visualize various driving scenarios. It generates 3D graphics that provide vehicle information and navigation guidance on in-vehicle displays. Driving can often be confusing, especially on complex roads or unfamiliar routes, where estimating distances or directions becomes challenging. LG’s in-vehicle AR technology alleviates this confusion by providing clear guidance lines that drivers can easily follow. The system employs sophisticated algorithms to integrate data from various vehicle sensors, including smart cameras, navigation systems and driver assistance sensors, along with external data sources. By harnessing information from GPS, Advanced Driver Assistance Systems (ADAS) and vehicle-to-everything (V2X) technologies, the system can predict potential hazards and accident risks based on the vehicle’s location and surrounding environment, thereby enhancing safety during journeys. A key feature of LG’s patented technology is its ability to display dynamic AR images. This capability makes route guidance more intuitive by adjusting the symbols representing the vehicle and directional guidance – such as combining a spade and chevron into an arrow shape or separating them – based on real-time driving conditions. The AR graphics can seamlessly separate, transform and merge, allowing the system to visually convey complex driving information, such as speed, incline, lane changes and route recalculations, in a manner that can be easily understood by the driver. LG plans to leverage this advanced vehicle AR technology to develop future mobility solutions for global automakers and accelerate the development of new mobility software. The company also aims to generate royalty-based revenue from the patent. “LG is excited to utilize its award-winning AR technology to create mobility solutions that elevate driver convenience and contribute to safer roads for everyone,” said Kim Dong-wook, head of the B2B Advanced Technology Center at LG Electronics. “Moving forward, we will continue to refine our AR technology to ensure compatibility across all vehicle platforms. We anticipate that this exciting innovation will significantly contribute to the growth of our software business.” # # # View the full article

LGEDV Emerges as Strategic R&D Hub, Expanding Research Portfolio to Automotive Components, webOS and Home Appliances SEOUL, Nov. 5, 2024 — LG Electronics (LG) is strengthening its research and development (R&D) capabilities in Vietnam, expanding its local research program into areas including vehicle components, the webOS platform and home appliances. This year, LG’s Vietnamese R&D subsidiary, LG Electronics Development Vietnam (LGEDV), has integrated living, kitchen and air solutions – all considered core products – into its software development and verification portfolio. LG established its local R&D network in Vietnam in 2016 with the opening of the R&D Center in Hanoi. Growing its on-the-ground capabilities, the company set up two additional R&D branch offices in Haiphong and Da Nang in 2020. Last year, LG reorganized its Vietnamese research structure, bringing the VS R&D Center under the auspices of LGEDV, which has now become one of the company’s key research institutes in Southeast Asia. LGEDV primarily focuses on software development and verification for LG’s In-Vehicle Infotainment (IVI) systems, which are central to the company’s strong performance in the B2B mobility solutions sector. The IVI business, which covers telematics, Audio Video Navigation (AVN) and clusters, accounts for more than 50 percent of all revenue generated by LG’s vehicle component solutions business. In addition to IVI systems, LGEDV has been involved in the development of the webOS platform since 2022, and has expanded its scope to include home appliances this year. LG is continuously strengthening its R&D competencies in Vietnam through various recruitment and talent development initiatives, including in-house training programs led by experts from LG headquarters. The company has successfully attracted and nurtured talented individuals from Vietnam’s young, well-educated population. Vietnam’s highly-skilled R&D workforce continues to grow, supported by the government’s aggressive R&D talent development strategies, which center on the cultivation of ICT talent at Hanoi National University. According to Vietnam’s General Statistics Office, the country’s population exceeded 100 million last year, with people under the age of 40 accounting for approximately 60 percent of the total populace. Indicative of the caliber of Vietnam-educated developers, five out of ten coding experts selected by LG last year were from LGEDV. Huynh Tan Y, a researcher with LGEDV, won the LG Coding Competition at the LG Software Developer Conference (SDC) 2023, which involved around 100 developers from all across the LG Group. LGEDV currently employs around 1,100 research staff, with plans to increase this figure to over 1,200 by the end of the year. A testament to LG’s effectiveness in the area of R&D recruitment and talent development, the company’s rapidly-growing Vietnamese R&D workforce numbered only 200 as recently as 2019. LG is building a global system of close R&D cooperation, with Korea at its center, and aims to further strengthen its capabilities in product development and technology research. The company maintains research institutes and development teams under each of its business units, with the CTO division developing core technologies from a mid to long-term perspective. In Korea, LG has R&D arms in Seocho, Yangjae, Gasan, Incheon, Changwon and Magok, while internationally, it operates 22 research institutes spanning North America, Europe, Japan, India and Vietnam. These institutes focus on global R&D activities and business responses geared toward identifying future growth engines. Along with world-class R&D centers, LG’s Vietnam operations encompass manufacturing facilities in Haiphong, producing washing machines, refrigerators, vacuum cleaners and IVI products, as well as a sales subsidiary in Hanoi. # # # View the full article

LG SIGNATURE OLED T and CineBeam Q Honored for Their Groundbreaking Innovation and Unprecedented Design ENGLEWOOD CLIFFS, N.J., Nov. 1, 2024 — This week, TIME revealed its annual list of the Best Inventions, naming the LG SIGNATURE OLED T to the list which features 200 groundbreaking innovations changing the world. Debuted at CES 2024, the LG SIGNATURE OLED T is the world’s first consumer transparent TV with transparent 4K OLED screen and LG’s wireless video and audio transmission technology, transforming users’ viewing experience with unprecedented freedom. Additionally, the LG CineBeam Q 4K UHD Smart Portable Laser Projector received a special mention for its sleek design, light form factor and performance. TIME’s Best Inventions of 2024 list is compiled by nominations from TIME’s editors and correspondents around the world, and through an online application process, evaluating a variety of industries and sectors such as consumer electronics, education, sustainability and robotics. Each submission is evaluated on several key factors, including impact, reach, creativity and effectiveness. See the full list here: time.com/collection/best-inventions-2024/ Of this year’s list, TIME’s editors write: “The result is a list of 200 groundbreaking inventions (and 50 special mention inventions)—including the world’s largest computer chip, a humanoid robot joining the workforce, and a bioluminescent houseplant—that are changing how we live, work, play, and think about what’s possible.” Revolutionizing the world of home entertainment, the LG SIGNATURE OLED T transforms how we experience screens in our homes. This groundbreaking innovation not only delivers stunning visuals but also features a breathtaking transparent display that seamlessly blends into your environment when not in use. With its ultra-slim design, the LG SIGNATURE OLED T transforms into an elegant piece of art, enhancing any room’s aesthetic. Advanced wireless technology enables the transmission of 4K video and audio without the clutter of cables, offering a truly immersive viewing experience. The TV boasts exceptional picture quality, showcasing vibrant colors and deep contrasts, setting a new standard in home entertainment. With the LG SIGNATURE OLED T, LG is pioneering a future where technology and design coexist beautifully. With its compact design and powerful performance, the CineBeam Q delivers stunning 4K resolution and vibrant colors, transforming any space into a captivating theater. This state-of-the-art projector features advanced laser technology, ensuring exceptional brightness and clarity, even in well-lit environments. The LG CineBeam Q also offers versatile connectivity options, allowing seamless streaming from various devices, making it perfect for movie nights or gaming sessions. With its user-friendly interface and compact form, the LG CineBeam Q is designed to enhance your entertainment experience, setting a new standard for home projection. Furthermore, Signature Kitchen Suite’s 30-inch Combi Wall Oven, a product in the latest Transitional Series delivering a chic, minimalist appearance, has also been recognized as one of the Best Inventions of 2024 in the Household category. To learn more about the LG SIGNATURE OLED T and CineBeam Q, visit LG.com. # # # View the full article

In alignment with its Better Life for All initiatives, LG is fostering sustainable growth in local communities around the world through the “LG Ambassador Challenge 2024,” which ran from February to October this year. Now in its 8th year, this initiative empowers local residents by bringing their ideas to life, recognizing that those who live in these challenging environments understand their needs best and how to address them with support. The primary goal is to help locals achieve sustainable self-reliance by suggesting practical improvements tailored to their unique challenges, such as inadequate social facilities or poor educational standards. To assist them, LG collaborates on problem-solving projects designed to enhance their social and cultural living conditions. To date, LG has implemented 76 successful projects in South Africa, Côte d’Ivoire, Ghana, Kenya, Peru, the Philippines, Bangladesh, Cambodia and Sri Lanka, significantly improving the quality of life for thousands of often-overlooked citizens around the globe. This year’s program, held in Kenya, Peru, Bangladesh and the Philippines, successfully implemented 10 out of 377 submitted project proposals, evaluated based on their social impact and efficiency. In Bangladesh, a project focused on empowering women as a means of alleviating poverty. In the Philippines, a mobile visiting library was created to enhance access to books, providing invaluable knowledge to the community. In Kenya, an initiative was launched to improve IT education in rural areas, including Ntinyika primary school, equipping students with valuable IT skills for future success. Notably, the “Atrapanieblas” project held in the Peruvian city of Lima was recognized as this year’s most impactful initiative. It introduced an ingenious solution to combat water scarcity in a coastal desert region characterized by dense fog and low annual rainfall. The project involved installing a fog capture network in the mountainous coastal area, converting fog and overnight water vapor into clean, drinkable water for 85 local households. “I was unaware that the fog I wake up to every morning could be harnessed to improve our daily lives. I’m delighted that we had the opportunity to come together, brainstorm ideas that could benefit our community, and see LG bring it to fruition,” said Pomela, a participant from the affected area. Meanwhile, LG is supporting other potentially life-changing initiatives, such as the Hope Village project, which aids housing for vulnerable groups, and the LG-KOICA Hope TVET College, which provides free vocational education to low-income youth. To discover a whole library of LG’s local initiatives to create a better life for people around the world, head to the LG Newsroom. # # # View the full article

SANTA CLARA, Calif., October 29, 2024 — Showcasing cutting-edge technological solutions, LG NOVA, the North America Innovation Center of LG Electronics, announced the winners of the 2024 Startup Pitch Competition, co-sponsored by LG Chem. This year’s event, held during LG NOVA’s annual InnoFest in San Francisco, featured standout startups focused on Life Sciences, Open Innovation, HealthTech, AI, Smart Life and CleanTech, with three companies recognized for their potential to drive impactful change. Ten startups competed for cash prizes and recognition in front of a panel of industry experts, LG executives and investors. The 2024 winners are: First Place: mDETECT Inc. – mDETECT has developed highly-sensitive cancer blood tests using DNA sequencing, offering a universal approach to monitoring therapy response and detecting cancer progression. The company received the top prize of $15,000. Second Place: Glidance – Glidance is revolutionizing independent mobility for people who are blind or have low vision with Glide, the first AI-powered intelligent guide, which enhances confidence, safety, and autonomy. Glidance was awarded $10,000. Innovation for Impact: Oncoustics – Oncoustics is transforming low-cost point-of-care ultrasound devices into powerful diagnostic tools for early detection and monitoring of liver diseases using AI. Oncoustics received $10,000 for its selection as Innovation for Impact company. This award category was sponsored by LG Chem. In addition to cash prizes, participants will have the chance to explore further collaboration through LG NOVA’s Mission for the Future Program, which seeks to support innovative startups through potential collaborations, partnership programs, marketing opportunities and other resources. “We’re excited to recognize startups that are truly pushing the boundary of what’s possible, developing technologies that have the potential to make an impact on people’s lives,” said Dr. Sokwoo Rhee, corporate executive vice president for innovation at LG Electronics and head of LG NOVA. “These companies are leading the way in critical fields like healthcare, cleantech, AI and life sciences and we look forward to exploring opportunities with them as they continue to advance their innovations. Together, we can shape a brighter tomorrow by driving meaningful change through collaboration.” The fourth annual LG NOVA InnoFest brought together industry leaders, investors and startups to explore emerging technologies in a collaborative environment. This year’s theme, “Lighting the Halo for Innovation,” emphasized the importance of co-creation in driving meaningful progress. The festival featured over 70 speakers, covering topics ranging from building successful ventures and the future of AI to innovative digital care models, energy management and more. # # # View the full article

LG Objet Collection epitomizes artful home appliances that seamlessly complement any space. And since beauty is not just on the outside, each appliance boasts innovative technology and leverages the LG ThinQ platform to ensure a smarter home that prioritizes convenience. To help consumers realize their dream homes – spaces that embody convenience and evoke positive emotions – LG Vietnam teamed up with AKA, a leading interior design brand that has propriety rights of over 30 famous furniture brands. Together, they crafted inspiring living space concepts showcased in BoConcept showrooms, a luxurious furniture design brand exclusively distributed by AKA. Here, the latest appliances and devices from the LG Objet Collection were prominently displayed, curating harmonious spaces that reflect unique tastes and styles. The living room was transformed into an art exhibition with LG OLED Posé TV. The product’s luxurious design, characterized by soft, rounded lines and a beige fabric finish, inspires a warmer, more intimate atmosphere. The Posé minimizes visual clutter by concealing cables and accessories behind its cover, while cleverly routing the power cord along the base. The kitchen was elevated with the LG Objet InstaView refrigerator and LG Quadwash TrueSteam dishwasher, which feature elegant designs and advanced technologies to bring aesthetics and convenience to the heart of every home. In the bedroom, the LG PuriCare360 Alpha PET air purifier became an indispensable element by quietly cleaning the air, ensuring the best night’s sleep. Its unique two-tiered cylindrical design added a stylish touch that accentuated the relaxing ambiance of the room. The stylish LG Stanby ME smart screen, with various customization options and effortless portability, was another popular choice for family homes. Another design marvel for the home was the LG Objet Styler, which boasts a modern design with minimalist square edges, resembling a small wardrobe. To ensure it blends effortlessly into any interior, its screen can be hidden away and only appears when touched by the user. Meanwhile, the LG WashTower introduced a “new breeze” to laundry spaces with its stacked washer and dryer design, utilizing a single control panel for optimal cleaning while saving valuable space. Beyond its pioneering and creative designs, the LG Objet Collection integrates LG’s leading technologies, allowing customers to enjoy a daily paradise of convenience. Each product in the high-end collection connects seamlessly to the LG ThinQ app, empowering users to control their devices via smartphone, ensuring spaces are always tailored to their preferences. Interior design experts note that the subtle yet elegant colors of beige, black and green not only allow the LG Objet Collection harmonize with a wide array of design styles but also add a touch of refinement and coziness to living spaces. These colors contrast beautifully with natural elements like stone, wood and tiles, enhancing the overall depth of the décor. With today’s customers expecting new products to do more with less, the experience space also showcased LG PuriCare Aero Furniture, featuring a unique design that resembles a modern coffee table. Complete with a control panel and a wireless charging pad for smart devices, its cylindrical base purifies the air while maintaining a sleek aesthetic. This collaboration between LG and AKA exemplifies the ideal home for modern consumers, merging aesthetically pleasing designs with life-enriching functionality. It reflects LG’s long-standing commitment to enhancing the overall user experience while promoting easier interactions with their products. Contributed by LG Vietnam # # # View the full article

Award-winning Heat Pump Delivers Advanced Efficiency and Heating Performance in Extreme Cold Conditions SEOUL, Oct. 29, 2024 — LG Electronics (LG), a leading global player in air conditioning technologies, has been honored with the 2025 AHR Innovation Award in the Sustainable Solutions category for its advanced LG Residential Cold Climate Heat Pump. The award was decided by an independent panel of ASHRAE member judges, who assessed product entries based on their design, creativity, application, value and market impact potential. The LG Residential Cold Climate Heat Pump, which will be showcased at the AHR Expo 2025 in Orlando, Florida next February, offers opportunities to reduce energy consumption, contributing to climate change mitigation while improving inhabitants’ comfort. Designed specifically for cold regions, LG’s heat pump operates effectively at temperatures as low as negative 35 degrees Celsius (negative 31 degrees Fahrenheit). It retains full heating capacity at negative 25 degrees Celsius (negative 13 degrees Fahrenheit) and functions at 70 percent capacity at negative 35 degrees Celsius (negative 31 degrees Fahrenheit). Additionally, the innovative heat pump incorporates a refrigerant cycle that prevents frost accumulation on the outdoor heat exchanger, thereby enhancing heating performance. The impressive solution is also equipped with a high-capacity, high-efficiency twin rotary inverter compressor that uses low Global Warming Potential (GWP) R32 (GWP 675) refrigerant, available with HSPF2 13.4 Btu/Wh and 13.6 kBtu/h. “The recognition from ASHRAE and AHR reflects LG’s ongoing dedication to HVAC technological innovation and electrification,” said James Lee, head of the Air Solution Business Unit at LG Home Appliance & Air Solution Company. “The Residential Cold Climate Heat Pump is a solution that can withstand extreme cold weather conditions and help improve energy efficiency in homes. Our focus remains on creating more environmentally responsible solutions that align with consumer needs while simultaneously reducing our global environmental footprint.” LG’s comprehensive suite of heating and cooling solutions for commercial, light-commercial and residential applications continues to receive industry recognition. This is largely due to LG’s consistent efforts to provide innovative HVAC solutions leveraging the company’s advanced core technologies, which elevate performance and support the move to electrification. LG prioritizes heat pump advancement as a key component of the U.S.’s climate improvement efforts. Several states have committed to improving decarbonization, setting a goal for heat pumps to constitute at least 65 percent of all new HVAC and hot water heating systems by the end of the decade. LG’s commitment to these broader goals is further demonstrated by its leadership of the Consortium for Advanced Heat Pump Research, founded in collaboration with the University of Alaska to establish an Advanced Cold Climate Heat Pump Laboratory in Alaska. LG has also set up a global R&D triangle connecting North America, Europe (Oslo, Norway) and Asia (Harbin, China), with the aim of accelerating the development of high-performance heat pumps for regions that endure extreme cold. “We understand the need to develop and validate products under extreme cold conditions, and the award-winning LG Residential Cold Climate Heat Pump is a testament to our ongoing efforts in this important area,” added Lee. “By minimizing reliance on fossil fuel-driven heating systems and cutting down on any supplementary back-up heating, the heat pump reduces environmental impacts and supports the larger decarbonization and electrification movements.” # # # View the full article

“While IR is traditionally understood as Investor Relations, I view it as Insight Relations.” LG CEO William Cho has often expressed this sentiment, and I wholeheartedly share his point of view. Over the last 25 years, I have dedicated considerable time to understanding the intricacies of the world’s capital markets, including a stint as an analyst in the IT and tech industry. My experiences have shown me that the active exchange of information and knowledge between companies and investors is essential for mutual success. Today, I take great joy and satisfaction in seeing our company make a significant impact in the market and among investors by presenting our latest business strategies. Being part of this new leap forward is truly gratifying. Last year, we announced a major business transformation, unveiling our vision to become a “Smart Life Solution Company” that connects customer experiences across home, commercial spaces, mobility and even the metaverse. To achieve this, we have set ourselves the “Triple Seven” target: seeking to reach seven percent average growth rate, seven percent operating profit and an enterprise multiple (EV/EBITDA) of seven, all by 2030. We also plan to invest over KRW 50 trillion for qualitative growth by the beginning of the next decade. Naturally, the attention of Korean and global investors and analysts began to focus on our enterprise value. Numerous questions were raised regarding the foundation and substance of our “Smart Life Solutions,” our growth potential and whether the announced changes were valuable enough to warrant the long-term investment of assets. As an analyst who has witnessed LG’s various transformations and efforts over the years, the initial market reaction was entirely understandable. Building on “responsibility” and “authentic communication,” which have been upheld as core values of investor relations (IR) for decades, we have expanded the involvement and role of top management, thereby enhancing trust in our corporate activities. We have also significantly improved policies aimed at increasing shareholder value. In addition, we are expanding efforts to contribute to the healthy development of capital markets from a macro perspective. Communication Leadership As the shift in business direction marks a critical turning point with regard to the company’s future blueprint, it was only natural for those leading the changes to step forward and take on the role of “communicators.” Accordingly, starting with the announcement of the “Future Vision 2030” in July last year, our CEO, CFO and other top executives have engaged in open and candid communications at key IR events, such as the general shareholders’ meeting, corporate briefings for global investors and investor forums. Beginning this year, the regular earnings conference calls, which were previously led by IR and business unit management, are now overseen directly by the CFO. Active Policy Changes to Improve Shareholder Value In addition, we announced a new three-year dividend policy (covering fiscal years 2024 to 2026) earlier this year aimed at enhancing shareholder value. This policy includes changes such as adjusting the dividend record date, changing the dividend cycle, setting a minimum base dividend and increasing the dividend payout ratio. In August, we became the first among the affiliates of Korea’s top 10 conglomerates to announce a value-up participation disclosure aimed at enhancing corporate value. On October 22, we announced our “Corporate Value-Up Program,” a master plan to boost shareholder value and normalize the company’s valuation. To enhance predictability for investors, we will continue with the base (minimum) dividend of KRW 1,000 per share and semi-annual dividends, which both began this year, while also considering quarterly dividends in the future. Growth with the Market Most people reading this article are likely well aware that companies, investors and the market are interconnected in an organic relationship. LG Electronics aims for healthy, mutual growth with the capital market. To this end, we have developed an IR Activity Management System that quantitatively analyzes IR activities for publicly listed companies and are sharing our operational know-how both internally and externally. Additionally, we have been collaborating with the Korea Investor Relations Service (KIRS) for several years, giving lectures on the direction of IR activities related to ESG (environmental, social and governance) and consistently contributing to the development of the capital market. Personally, as an analyst, I take great pride in sharing the knowledge and expertise I have accumulated from working at various companies and, through this, contributing to the positive cycle of market development alongside my colleagues. Earlier this month, we were honored with the Financial Services Commission Chairman’s Award (Grand Prize), the highest award in the corporate category, at the 2024 Korea IR Awards hosted by the KIRS.* The award holds great significance as it acknowledges our contributions to maintaining systematic and sincere communications with the market, as well as our efforts to secure a stable investment base as recognized by capital market authorities and various experts. Going forward, we will continue our commitment to proactive and genuine communication across all business activities to further build investor trust. I, too, will continue to strive to establish LG as an “Insight Leader” that drives healthy, mutual growth for the market, companies and investors alike. By Park Won-jae, vice president and head of IR Division at LG Electronics # # # * Hosted by KIRS under the Korea Exchange since 2001, the Korea IR Awards are presented annually to companies and individuals who have contributed to the healthy development of capital markets through effectively IR activities. Companies and individuals recommended by analysts and institutional investors are selected through a rigorous evaluation process conducted by a professional review panel and a selection committee. View the full article

LG’s Better Life for All vision encompasses every aspect of life, emphasizing sustainable living and raising educational standards for children in rural areas. In line with this commitment, LG offices around the world actively participate in local initiatives aimed at improving the lives of the people and communities they engage with daily. To commemorate World Cleanup Day (September 20) and International Coastal Cleanup Day (September 21), LG Singapore organized its first-ever beach cleanup event at East Coast Park in conjunction with local green social enterprise Green Nudge. As part of the brand’s sustainability efforts, this initiative sought to highlight the importance of taking action against Singapore’s growing marine plastic pollution problem while promoting the 3Rs – Reduce, Reuse and Recycle – when dealing with used packaging. By combining the company’s eco-conscious innovations with a community-driven effort, LG Singapore hopes this initiative will help foster a culture of environmental consciousness within consumers. With the much-appreciated help of Green Nudge, over 100 LG Singapore employees collected 293 kilograms of trash – mainly plastic packaging, bottles and Styrofoam – from three sites across Singapore’s eastern coastline, which was then carefully processed for proper disposal. To foster camaraderie among employees, LG Singapore organized eager volunteers into teams and promised an award to the group that collected the most trash. The winning team, which collected a total of 104 kilograms of trash in just one hour, received a small token of appreciation from Gerald Chun, managing director of LG Singapore. The success of the beach cleanup highlights LG’s dedication to environmental stewardship and community involvement, with the revitalized beach serving as a powerful reminder of the impact collective action can have. LG Singapore looks forward to promoting sustainability in more exciting ways and inspiring others to join its mission to preserve nature. Moving on to another vibrant part of Asia, in the spirit of Life’s Good, LG Taiwan hosted an event in September to inject positive change into the local community. Since 2009, LG Taiwan has been deeply committed to improving the standards of education in the nation’s rural areas, working alongside third-party organizations and public welfare institutions to inspire warmth and hope. This long-standing dedication was recently demonstrated through a collaboration with the Feng Chia University School of Architecture. This involved LG Taiwan assisting Feng Chia University’s Book Hut Project to create an impactful after-school learning space for children living in the countryside. First, LG donated smart home appliances to meet their daily needs, with the local children taking an immediate liking to the LG TV’s advanced voice control features and its sheer size. LG also donated two washing machines that make everyday laundry easy and convenient, requiring only the press of the power and start buttons to operate. Under the leadership of Jeong Yeon-kwan, managing director of LG Taiwan, a team of 23 LG employees joined student volunteers from Feng Chia University in Hualien to transform a building into an inspirational learning environment with a new lick of paint and various decorations. In addition to getting hands-on in Hualien, LG Taiwan donated home appliances to the rural Nantou and Taitung regions to spread the power of education. Managing director Jeong showed teachers and children how each appliance works to ensure they received the full benefits. And to add a personal touch to their visit, LG volunteers prepared Korean snack packs for the children and student volunteers. To support the transformation of its local community, LG East Africa collaborated with Korea Food for the Hungry International (KFHI) to complete two local projects. These initiatives – in Kajiado County and Nairobi’s Huruma slums – were the winning entries of the 2024 LG Ambassador Challenge. Each received KES 1 million in funding to make an impact on local communities. As a part of the first initiative in Kajiado County, LG East Africa took part in transforming Intinyika Primary School. The school, which has 180 students, was equipped with essential infrastructure, including a solar power system, water storage facilities and computers. These upgrades address critical needs, such as electricity, water and educational resources, significantly improving the learning environment for local students. LG is hopeful that the new equipment will benefit and improve the lives of local students, with the new computers enabling them to learn more about digital technologies in a more comfortable learning environment. In Nairobi’s Huruma slums, LG East Africa provided aid to the Furaha Community Foundation to improve their physiotherapy center, which treats more than 30 children with disabilities. With the funds from the LG Ambassador Challenge, the center acquired essential equipment, including gym tools, to provide effective care and treatment. Now in its fourth year, the LG Ambassador Challenge is part of LG East Africa’s social responsibility initiatives. The program aims to recognize and support groups that actively address pressing challenges within their communities. The 2024 edition saw 53 applications, with the winning projects standing out for their potential to create lasting change. To ensure the sustainability of these projects, KFHI will continue to provide customized monitoring and support. This includes regular visits, communication and oversight to maximize the impact and facilitate meaningful change within the communities. LG will continue to arrange various activities around the globe to spread its Life’s Good brand promise. To learn more about LG’s local initiatives around the world, visit LG Newsroom. Contributed by LG Singapore, LG Taiwan and LG Kenya # # # View the full article

Company Achieves Highest Third-Quarter Revenue and Sustains Year-Over-Year Growth for Four Consecutive Quarters SEOUL, Oct. 24, 2024 — LG Electronics Inc. (LG) today announced its third-quarter 2024 consolidated revenue of KRW 22.18 trillion and an operating profit of KRW 751.9 billion. This revenue marks the highest ever for a third quarter, while the operating profit ranks as the fourth highest in the company’s history. Several external factors impacted the third quarter, including a prolonged delay in market demand recovery and ongoing geopolitical conflicts worldwide. These challenges led to a rise in global shipping expenses, contributing to increased costs. Despite these obstacles, LG has achieved year-over-year revenue growth for four consecutive quarters by upgrading its business portfolio. This includes transforming business methods and models and expanding B2B operations. These efforts have allowed LG to partially offset the unavoidable cost increases, enabling the company to maintain a robust operating profit, signifying the retention of strong fundamental competitiveness. Looking ahead, LG plans to further accelerate its business transformation by expanding home appliance subscriptions, direct-to-consumer (D2C) sales and volume zone product sales. In addition, the company aims to drive steady growth in the B2B sector while also expanding platform-based content and service businesses. The LG Home Appliance & Air Solution Company generated third-quarter revenue of KRW 8.34 trillion and an operating profit of KRW 527.2 billion. Compared to the same period last year, revenue increased by 11.7 percent and operating profit by 5.5 percent. Despite challenging external conditions, LG’s home appliance business outperformed its peers, reaffirming its top-tier competitiveness. Even with the delayed recovery in global appliance demand, the rapid growth of the subscription business model and B2B HVAC business drove revenue expansion. Although the surge in logistics costs in the second half of the year significantly impacted operating profit, the company achieved results exceeding the same period last year, thanks to revenue growth and exceptional manufacturing competitiveness. In the fourth quarter, market conditions are expected to gradually improve, as indicated by improvements in leading economic indicators in major countries and interest rate cuts. LG plans to diversify its home appliance lineup and pricing strategy to meet the growing demand in emerging markets, while also expanding new businesses such as subscriptions and D2C sales to maintain revenue growth. The company will continue to focus on efficient operations, considering the seasonal increase in marketing expenses, to secure profitability. The LG Home Entertainment Company posted third-quarter revenue of KRW 3.75 trillion and an operating profit of KRW 49.4 billion. Revenue increased by 5.2 percent compared to the same period last year, driven by increased shipments in Europe – a key market for OLED TVs. Although the cost burden increased significantly due to a sharp rise in LCD panel prices, the continued growth of the webOS-based content and services business minimized the impact on overall profits. In the fourth quarter, the TV market is expected to see slight growth, primarily in entry-level products, compared to the same period last year. LG plans to respond flexibly to changes in TV market demand while accelerating growth by expanding its webOS partnerships to increase its user base. The LG Vehicle component Solutions Company reported third-quarter revenue of KRW 2.61 trillion and an operating profit of KRW 1.1 billion. Revenue increased compared to the same period last year but slightly decreased from the previous quarter due to a slowdown in electric vehicle (EV) demand. Operating profit also declined, impacted by increased R&D expenses for securing software-defined vehicle (SDV) technology and preemptive investments for mass production of order volumes. The market in the fourth quarter is expected to maintain a growth trend compared to the same period last year and the previous quarter. However, growth is anticipated to slow due to stagnant EV demand. LG plans to focus on sales growth based on its secured order backlog and on strengthening the market position of its main products, including telematics, AVN and motors. Additionally, the company will continue efforts to improve efficiency across its operations and pursue profitability. The LG Business Solutions Company reported third-quarter revenue of KRW 1.40 trillion and an operating loss of KRW 76.9 billion. Revenue grew year-over-year due to increased sales of strategic products such as gaming monitors and LED signage, as well as securing large-scale B2B orders for PC products. However, the operating loss expanded due to rising LCD panel prices, increased logistics costs, intensified competition and higher investments in nurturing new businesses within the Company. In the fourth quarter, demand for strategic product lines including gaming monitors and LED signage is expected to grow by double digits compared to the same period last year. Additionally, the rising interest in AI PCs is anticipated to boost demand for premium laptops. Consequently, the Company plans to expand sales of strategic products and focus on improving profitability through efficient operations. Meanwhile, following a board resolution last month, LG decided to discontinue its battery pack business. As a result, starting from the third-quarter earnings report, related revenue and operating profit will be treated as discontinued operations in the financial statements. This will also lead to adjustments in past revenue and operating profit figures. Earnings Conference and Conference Call LG Electronics will hold a Korean / English conference call on October 24, 2024, at 16:30 Korea Standard Time (07:00 GMT/UTC). Conference call participants should pre-register online to receive a private PIN. The corresponding presentation file will be available for download at the LG Electronics website before the call. # # # View the full article