Quantcast
Jump to content

Unlocking Potential With ‘STUDIO341’: LG’s Commitment to Nurturing Innovation


Recommended Posts

LG remains steadfast in its commitment to actively nurture ideas with the potential to fuel the company’s future growth. By fostering a corporate culture that not only encourages challenges but also embraces failures as stepping stones to success, LG aims to embody the principles that have been at the heart of CEO William Cho’s leadership philosophy since his tenure began. CEO Cho consistently champions the ‘Brave Optimist’ mindset, inspiring everyone to boldly undertake challenges and relentlessly innovate, anchored in the belief that the customer is always the key to unlocking solutions.

1-2-600x404.png

A prime embodiment of this ethos is ‘STUDIO341,’ an initiative launched by LG last year. This program is designed to identify and cultivate in-house ventures that encapsulate the spirit of challenge and innovation, a mindset that has been instrumental in propelling LG from its humble beginnings as Goldstar in 1958 to its current status as a global leader in home appliances. The ‘341’ in ‘STUDIO341’ serves as a poignant reminder for LG’s ‘Brave Optimists’ to stay true to the company’s roots, symbolizing the original street address of Goldstar in Busan, Korea’s second-largest city.

The initiative welcomed anyone with a creative idea that can solve a problem worth solving and provide a new experience to customers. The response was impressive, with over 100 internal submissions received.

2-2-600x341.png

In the previous year, LG shortlisted the top thirteen ideas – one more than the originally intended twelve – which were further narrowed down to six during an internal IR event. This process involved evaluating the ideas based on their potential to provide unique customer experiences. The selection criteria encompassed business value, feasibility, potential impact and team capabilities.

The chosen teams were relocated to an external office to be able to fully immerse themselves in developing their in-house venture ideas. By March 2024, the top six teams had the opportunity to present their business proposals at the ‘STUDIO341 Demo Day’ in Seoul, in front of LG executives and potential investors.

Studio-341_3-600x317.png

After thorough deliberation, the top five teams selected for spinoff were unveiled: ‘MASKIT,’ a mobile ticketing and admission service for performing arts that removes the necessity for queuing; ‘FreshGo,’ an original cold chain transportation solution that leverages individual refrigeration technology; ‘Cucumber,’ a platform focused on local food pickup services; ‘Found Objet,’ a digital transaction platform for recycled plastic materials; and ‘X-UP,’ a solution for diagnosing and maintaining golf courses using robots and heat mapping technology.

4-1-600x344.png

Meanwhile, LG partnered with Bluepoint, a partnership-driven Korean startup accelerator, to leverage their ability to objectively assess the teams’ capabilities and provide more effective support. This approach has helped streamline the whole process to a year, with six months for selection and six months for development. During the process, each team will receive a joint investment from LG and Bluepoint up to a maximum of KRW 400 million.

5-2-600x400.png

In parallel, LG is intensifying its collaboration with global startups, as exemplified by its partnership with Amwell, a U.S. telemedicine company, to provide remote medical treatment solutions across North America. The company also aims to evaluate the viability of services in prevention, diagnosis, post-management and recovery, among others.

LG NOVA, LG’s North America Center for Innovation, launched its “Mission For the Future” by presenting the Eureka Park showcase at CES 2024 in Las Vegas. It also leveraged its influence to introduce startups operating in the digital healthcare field, such as XR Health, Mindset Medical and C.Light Technologies.

Stay tuned to

link hidden, please login to view
to see how else the company is revolutionizing the customer experience for all.

# # #

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Similar Topics

    • By News Reporter
      Image source: link hidden, please login to view
      Earth Day, celebrated annually on April 22, serves as a reminder of our collective responsibility to appreciate and protect our magnificent planet. It calls upon each of us to take significant actions towards fostering a healthier environment and a brighter tomorrow. This year, the theme of Earth Day is ‘Planet vs Plastic,’ chosen to highlight the urgent need to address the widespread problem of plastic pollution. Aligned with this is the ambitious goal announced by to reduce plastic production by 60 percent by 2040. From saying “no” to single-use plastics to embracing appliances made using recycled plastics, everyone can play a part in putting society on the path to a plastic-free future.
      A company with a comprehensive ESG vision for a ‘Better Life For All,’ LG is involved in a wide range of initiatives that help the wellbeing of people and the planet. Its actions on plastic reduction is coupled with intensifying efforts to develop product solutions, and implement lifecycle strategies, that empower users to play a more active role in bringing about positive change. As these endeavors suggest, LG is committed to promoting a sustainable future while enhancing the wellbeing of individuals and communities worldwide.

      LG’s Innovative Washer Helps Curb Microplastic Emission
      Microplastics, minute plastic particles less than 5 millimeters in size, have permeated oceans, soil and even the air we breathe. Their widespread distribution raises concerns for both the environment and human health.1 The washing of synthetic textiles is a significant source of microplastics released to oceans globally, accounting for up to 35 percent. This translates to around 200,000 to 500,000 tons of textile-related microplastics entering the marine environment every year.2

      In an attempt to help people contribute to the mitigation of plastic pollution, LG’s new washer comes with the Microplastic Care cycle preinstalled.3 When set to this specialized cycle, the washer utilizes a ‘swinging’ motion and the TurboWash 360 feature to minimize fabric friction, providing gentle yet effective cleaning while reducing microplastic ‘shedding’ from garments by up to 60 percent.4

      Additionally, the latest LG front-loader comes with AI Wash, which leverages the company’s Deep Learning Artificial Intelligence (AI) Direct Drive Motor and 6 Motion technology. Selecting the optimal washing motions based on fabric type, AI Wash provides improved fabric protection to help extend the lifespan of clothing.5 The new washer also optimizes detergent usage with ezDispense, which automatically dispenses the right amount of liquid detergent for each load.6

      LG’s Plastic-reducing Initiatives for a Better Life

      With a staggering one million plastic bottles used every minute, and up to five trillion plastic bags used annually, plastic waste is polluting our world at an alarming rate.7 Although they undoubtedly make daily life more convenient, home appliances are a substantial contributor to the problem of plastic waste. Recognizing this, LG has greatly expanded its recycling programs for discarded appliances, fostering a sustainable cycle that shows a better way forward for industry and the world.

      LG has implemented a resource circulation program that now spans 52 countries, with the LG Recycling Center in South Korea playing a central role. Raw materials such as iron, copper, aluminum and plastic are extracted from old home appliances, then sorted and processed before ultimately being ‘reborn’ as new lifestyle appliances, such as the LG Styler ShoeCase and ShoeCare, LG PuriCare AeroFurniture and LG tiiun mini.

      Catering to the needs of diverse customer segments, these innovative lifestyle appliances from LG feature outer surfaces made from recycled plastics. Through making upcycling a part of its process, the company is both reinforcing sustainability throughout the entire product lifecycle and presenting eco-concerned customers with a compelling range of stylish and practical solutions that speak to their values, as well as their tastes.

      LG’s ongoing commitment to addressing the importance of recycled materials was also on show at IFA 2023 in Berlin, Germany, last September. The company’s exhibition booth hosted a number of activities to raise awareness of the importance of plastic recycling, including the planting of resin-pallet ‘trees’ at the LG Sustainable Village’s Upcycling Workshop Zone.
      In 2022, LG recovered 472,876 tons of electronic waste from 52 countries, and has collected a cumulative total of 3,998,382 tons since 2007. The company used 32,987 tons of recycled plastics in its products in 2022, a 24 percent increase from 2021.
      LG’s worldwide resource circulation program, aligned with the goals of the company’s Better Life Plan 2030, aims to increase the waste-recycling rate at LG production sites to 95 percent by 2030. Additionally, LG has set itself the target of using 600,000 tons of recycled plastics (cumulative) by 2030. Furthermore, LG intends to reach another major milestone – the collection of 8 million tons (cumulative) of discarded appliances by 2030.
      LG remains resolute in the pursuit of its Better Life For All vision. The company’s state-of-the-art appliances offer convenient ways for customers to contribute to environmental protection, while its sustainability-focused recycling programs and production practices show a belief in the possibility of a brighter tomorrow.
      # # #
      1
      2
      3 ThinQ UP washing machine users can download the new course from the ThinQ app Upgrade Center. Availability of features may vary depending on product model and region.
      4 Tested by Intertek in July 2023. Microplastic Care cycle with 3kg of load (100 percent polyester training jacket) compared to Mixed Fabric cycle (F4Y7EYPBW). Comparing by measuring the amount of microplastics filtered through a 20㎛ filter. Results may differ depending on the item or items of clothing washed and on the usage environment.
      5 The AI DD motor attached to washing machines detects fabric type by calculating the unique waveforms of the fabric and help reducing the damage. Feature availability may vary depending on the product models.
      6 The application of ezDispense function varies depending on the washer model. The feature can dispense detergent for up to 31 loads when both the detergent and fabric softener compartments are filled with detergent to capacity.
      7

    • By News Reporter
      In this installment of On the Job, we go inside LG Labs, LG’s marketing platform established to deliver experimental and innovative product and service experiences to its customers. We’re here to learn more about how it brings one-of-a-kind products and service experiences to customers.
      As it transforms into a younger and innovative company, LG is fully committed to delivering a consistent supply of groundbreaking products and technologies that appeal to the younger generation. Playing a key role in this shift is LG Labs, a platform established to push the limits of innovation and turn imagination into reality by doing something that doesn’t come natural to most – thinking outside the box.

      Since making its world debut at CES 2023, LG Labs has been presenting some of the most experimental and innovative products and services to global customers. Set up to bring a younger and more innovative feel to the LG brand, LG Labs’ purpose is to develop products that resonate with the younger generation, helping it build strong and lasting brand values that will be crucial to sustaining its leadership status into the future.
      “If we discover an innovative idea that can provide new, unique experiences to customers, it doesn’t matter if it is low in business priority or small in market size,” explained Kong Dae-won, leader of LG Labs. “Even before launch, LG Labs actively engages with real customers through various channels and considers their honest feedback, providing us more opportunities to bring our potentially game-changing ideas to life.”
      (From left to right) Kong Dae-won, leader of LG labs, and Woo Hyung-bihn, specialist at LG Labs
      To decide which product to develop, LG Labs brings together experts from LG Global Marketing Group, Design Management Center, CX Center, Quality Management Center and other related departments. The questions every LG Labs expert must ask themself are: Is this something we’ve never tried before? Is it a new concept for the industry? And does it have business potential?

      For example, DukeBox, which was unveiled at
      link hidden, please login to view, creates an entirely new product category and unique music experience by combining a vacuum tube motif with Transparent OLED tech. In fact, despite launching only a year ago, LG Labs has already invented several never-before-seen products including , Bon Voyage and brid.zzz. Bon Voyage featured at Wanderlust Korea
      “We felt it was important to bring our innovations to customers directly and provide the opportunity to experience our innovative ideas in person,” said Kong Dae-won. “Over the past year, brid.zzz, Bon Voyage and DUOBO were featured in the LG Labs experience zone at offline events in South Korea, including Wanderlust Korea, Isegye Festival and Go Out Camp Festival. As a result, we were able to reach more than 40,000 customers and received invaluable feedback from more than 2,000 visitors.”

      This year’s CES LG Labs booth was twice the size of last year’s booth, and the response from visitors was twice the scale as well. DukeBox was a big hit, especially with the big music labels in attendance as it fit seamlessly with their content and music. As a result, LG is currently in talks with a famous label on a potential collaboration that would undoubtedly strike a chord with young music fans.
      LG Labs offline experience zone at Isegye Festival in Korea
      Beginning last year, LG started focusing on targeting younger customers. This year, it’s taking things a step further by entering their social and online channels to generate more engagement. By leveraging the influence of creators who resonate with the younger demographic, LG plans to adopt an online and offline hybrid marketing strategy to communicate the new and exciting experiences of LG Labs’ products. This includes expanding its experience events overseas.
      LG Labs aims to expand the company’s future business portfolio while encouraging both executives and employees to challenge convention by fostering an organizational culture that welcomes and rewards it. There’s much more to come from LG Labs over the coming years, so watch this space for more inventions designed to make life good!
      Stay tuned to the to find out what other LG teams and employees are getting up to.
      # # #

    • By News Reporter
      Company Has Established a Comprehensive, Ethically-Responsible
      Management System for Its AI-Enabled Home Appliances

      SEOUL, Feb. 15, 2024 — LG Electronics (LG) has recently achieved a significant milestone by obtaining the AI Management System (AIMS) certification (ISO/IEC 42001) from the Korean Standards Association (KSA).1 This certification demonstrates LG’s commitment to prioritizing data security and embracing responsible AI management practices throughout the entire lifecycle of its AI-powered home appliances.
      ISO/IEC 42001, a globally recognized standard established jointly by the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC), sets out the essential requirements for governing and managing AI technologies.2 AIMS certification validates that a company has not only implemented but also maintains and continuously improves an AI Management System, demonstrating a responsible and ethical approach to developing and utilizing AI-based solutions.
      The stringent assessment criteria of ISO/IEC 42001 cover various aspects, including AI policy formulation, risk assessment, risk management, ethical compliance, regulatory responsiveness and transparency in AI management processes.
      The acquisition of AIMS certification acknowledges LG’s ongoing and systematic efforts to ensure rigorous control over potential issues related to its AI products and services, including security, fairness, transparency and accountability. Through this certification, LG aims to enhance customer trust and strengthen its competitiveness.
      Last year, LG distinguished itself as the first home appliance manufacturer to receive Deep Learning AI Verification, awarded by the independent safety science company UL for its washing machine and dryer. Additionally, LG obtained AI Safety Certification from the Korea Institute of Industrial Technology (KITECH) for the AI functionalities integrated into the LG WashTower.3
      LG actively leverages data- and AI-based research and development initiatives to realize the vision of the ‘Zero Labor Home,’ offering users a refreshingly convenient and relaxing smart home experience facilitated by LG’s advanced, AI-driven home appliances and services.
      “This certification shows that we have established a comprehensive AI management system and are committed to providing our customers with safe, responsible AI-based solutions for a better life,” said Lyu Jae-chul, president of LG Electronics Home Appliance & Air Solution Company.
      # # #
      1 The AI Management System certification (ISO/IEC 42001) from the Korean Standards Association is confined to the products produced in LG Smart Park 1, 2 in Changwon, South Korea.
      2 link hidden, please login to view
      3 The AI Safety Certification from the Korea Institute of Industrial Technology is applied to WashTower model W17NT.

    • By News Reporter
      New employees are one of the most valuable customers of a company and they’re also a key driving force behind its future growth. Recognizing their significance, it’s just common sense for businesses to listen to their voices as much as they listen to what consumers have to say.
      In recent surveys conducted in South Korea,* it was found that Gen Zers, in particular, chose ‘Opportunities for Personal Growth’ and ‘Personal Growth and Self-realization’ as key factors for a satisfactory work life. It was clear that demand for self-development at the workplace was growing amongst younger generations. In line with such findings, LG has been running various training programs aimed at promoting the career growth of its new software developers while at the same time seeking to create a productive and strong relationship-bonding corporate culture.

      One such program is the recently renamed LG Bootcamp – initially created in 2011 as the No.1 New Software Developer Training Course. The program has evolved to provide training for not only the employees of LG but also other LG Group affiliates. It effectively supports the growth of participants by providing interesting and enjoyable, yet highly demanding missions on a daily basis. The program focuses on emphasizing collaboration over competition and embracing the notion that failure is part of the learning process.
      LG Bootcamp is divided into two courses: the Proficiency Course and the Project Course. The Proficiency Course specializes in enhancing basic programming skills to help new developers pass the company’s software programming proficiency test. Successful candidates then progress to the Project Course, where they form teams to work on actual software development projects.

      A total of 240 new software developers participated in four Bootcamp sessions this year. In the Project Course of the third session, participants formed 19 teams and were divided into two projects: the Embedded Software Path and Data Science Path. Over a four-week period, these teams diligently worked on their respective projects, and the top two teams from each Path emerged as candidates for the Software Fighter contest – a platform showcasing the most outstanding projects of the entire course.

      In the initial presentation round, teams from the Embedded Software Path showcased their projects, focusing on the intricate task of designing and implementing a multi-process operating system kernel based on a simplified operating system design. The first team unveiled ‘My One and Only OS,’ a multi-processing operating system supporting a memory monitoring app, while the second team shared their developmental journey, highlighting the challenges and triumphs of their operating system project.

      Subsequently, the Data Science Path teams took the stage for the second round. Their projects revolved around constructing AI models and seamlessly integrating them into embedded boards. The first team introduced ‘Alpi,’ an AI speaker capable of understanding users’ emotions and delivering personalized services, while the second team introduced a unique cloud game facilitating enjoyable turtle-neck correction exercises through facial movements.
      The caliber displayed by the new developers during the presentations garnered admiration from the judging panel. Among them, Kwak Jung-ho, head of HE Service Platform Development Division, emphasized that, “in the age of generative AI, the importance of being able to strategize, oversee and identify suitable program applications will rise significantly, surpassing the significance of coding proficiency.”

      The event wrapped up with the Ignite session, a program that always marks the end of LG’s Software Developer Conference. During the event, the trainees had the opportunity to showcase their talents on stage. Many of the new employees showed interest in various forms of art, such as singing, playing musical instruments, dancing and sports. The theme of the Ignite session, “Art,” was chosen to highlight the connections and inspiration between technology and art. Two individuals stood out with their impressive breakdance and K-POP composition performances, leaving the audience captivated and inspired in just five minutes.
      “The Bootcamp provides an opportunity to explore a spectrum of LG products, including cloud computing, artificial intelligence, metaverse and web 3.0,” said Eom Wi-sang, head of Software Engineering R&D Lab. “I hope you all become developers embraced everywhere by acquiring the ability to trust colleagues and navigate complex concepts.”

      While coding is a fundamental aspect of software development, LG Bootcamp recognizes that software developers require a diverse skill set encompassing software knowledge, technical expertise, requirements analysis, communication skills, teamwork and creativity. Acknowledging the long and challenging journey to becoming a software expert, LG Bootcamp seeks to transform aspiring software developers into seasoned professionals, continuously enhancing their capabilities.
      The commitment to the growth of new developers entering the LG Group remains steadfast. LG Bootcamp pledges ongoing development efforts to provide continuous improvement and unwavering support. Observers are encouraged to keep a watchful eye on the transformative journey of LG’s new developers as they evolve into seasoned software experts, propelled by a supportive environment.
      # # #
      * Survey results from Research Laboratory for the Twenties ( link hidden, please login to view) and Comento ().

    • By News Reporter
      LG Continues Long-Standing History of Honors at World’s Preeminent Consumer
      Technology Show With More Than 200 Awards & Accolades

      SEOUL, Jan. 25, 2024 — At this year’s CES®, LG Electronics (LG) was honored with more than 200 awards and recognitions for a wide range of innovations and technologies across the home appliance, home entertainment and B2B categories.
      The LG SIGNATURE OLED T – the world’s first 4K wireless transparent TV – led the way with countless honors as the Best TV or Best in Show from a wide range of press outlets.
      With LG’s reputation as the global leader in OLED technology – the company continues to assert its dominance at CES, taking home the industry’s top awards and honors for its latest OLED TV lineup including the aforementioned LG SIGNATURE OLED T and the LG OLED evo M4, G4 and C4 TVs. Utilizing the wireless technology introduced in last year’s M3 TV, LG’s 77-inch LG SIGNATURE OLED T is considered the next step in the evolution of OLED TV technology and was honored by major tech publications including CNET, Digital Trends, TechRadar, Tom’s Guide, Forbes, The Verge, Wirecutter, PCMag and Mashable.   
      The LG OLED evo series featuring a new 144Hz refresh rate and LG’s Alpha 11 AI processor was also applauded by CNET, TechRadar Pro, PCGamer and BGR. Additionally, Digital Trends highlighted the LG UltraGear OLED gaming monitor 32GS95UE in its lineup of best monitors seen at CES 2024 noting its one-of-a-kind ability to toggle between 4K at 240Hz and FHD at 480Hz with the press of a button.
      LG also garnered accolades from top publications such as USA Today and Tom’s Guide for its new LG WashCombo All-in-One with HeatPump Technology. Marking LG’s commitment to a greener world – the new Wash Combo uses 60 percent less energy than a vented model.* The cutting-edge home appliance was widely recognized for its compact ventless design and ability to complete a wash-and-dry cycle in under two hours.
      Named as a winner of Reviewed’s Accessibility Awards for CES 2024 – LG’s Universal UP Kit – a collection of innovative home appliance accessories and add-ons embracing universal design has been crafted to enhance usability for individuals facing physical challenges. It was also recognized in Apartment Therapy’s Best Home Design Products from CES 2024.
      From the Consumer Technology Association’s (CTA) CES Innovation Award program alone, LG won 34 CES Innovation Awards including two Best of Innovation Awards given to the LG 4K Transparent OLED T and the 83-inch 4K OLED Zero Connect TV (M4).
      Highlights from LG’s over 200 awards and recognitions earned at CES 2024 include:
      LG SIGNATURE OLED T (77-inch)
      CNET: Best TVs of CES 2024 Digital Trends: Top Tech of CES 2024 Awards PCMag: The Biggest (and Coolest) TVs at CES 2024 Engadget: Best of CES 2024 Reviewed: The Reviewed Awards: CES 2024 – Home Theater TechRadar: Best Gadgets of CES 2024 – Best TV The New York Times: Wirecutter: Best of CES 2024 Tom’s Guide: Best of CES 2024 Awards – Best Design The Verge: The Verge Awards at CES 2024 – Best in Show CNN Underscored: Best of CES 2024 – Best TV NBC News: Best of CES 2024 Fox News: Top 10 Tech of CES 2024 The Hollywood Reporter: Best of CES 2024 – Best OLED TV Variety: Best of CES 2024 – Best 4k TV Popular Science: Best New Gadgets and Tech from CES 2024 Rolling Stone: Best of CES 2024 LG OLED TVs (M4, G4, C4 and B4)
      Tom’s Guide: Best TVs of CES 2024 – LG OLED evo G4 Reviewed: The Reviewed Awards: CES 2024 – LG OLED evo G4 TechRadar Pro: 2024 Pick Awards – LG OLED evo M4 Tech Advisor: Best of CES 2024 – LG OLED B4 Gear Patrol: Coolest TVs and Monitors Revealed at CES 2024 – LG OLED evo G4, C4, and OLED B4 LG QNED TVs
      Tom’s Guide: Best TVs of CES 2024 – LG 98 inch QNED TV Residential tech today: CES 2024 Reflections and Superlatives – LG 98 inch QNED TV LG gram Pro Laptops
      Digital Trends: Best and Most Exciting Laptops at CES 2024 – LG gram Pro Inverse: Best Laptops Announced at CES 2024 – LG gram Pro 2-in-1 Laptop Mag: Best of CES 2024 – Best 2-in-1: LG gram Pro 2-in-1 Live Science: CES 2024: Best Laptops for Coding & Programmers – LG gram Pro 2-in-1 LG CineBeam Qube Projector
      PCMag: Best of CES 2024 – Best Projector WIRED: Best of CES 2024 – Best Home Theater Gizmodo: Best, Coolest, and Weirdest Gadgets at CES 2024 Yanko Design: Best of CES 2024 LG UltraGear OLED Gaming Monitor
      Digital Trends: Best Monitors of CES 2024 Inverse: Most Eye-Popping Gaming Monitors from CES 2024 The Shortcut: The Shortcut CES 2024 Awards Windows Central: Best of CES 2024 – Best Gaming LG WashCombo All-in-One with HeatPump Technology
      Reviewed: The Reviewed Awards: CES 2024 Tom’s Guide: Best Smart Home Gadgets of CES 2024 – Best Smart Appliance Tom’s Guide: Best of CES 2024 – Best Home Appliance Good Housekeeping: Coolest Gadgets at CES 2024 LG Smart Home AI Agent
      Reviewed: CES 2024 – Top 9 New Gadgets You Need To See Mashable: The Best of CES 2024 The Washington Post: The Best (and Strangest) Tech We Found at CES 2024 T3: Best of CES 2024 Awards – T3’s Top Tech from This Year’s Show For more information on LG’s CES 2024 awards and honors and additional information about LG’s products announced at CES, please visit 
      link hidden, please login to view. # # #
      * 60% more energy efficient drying – efficiency rating as compared to the requirements for ENERGY STAR® qualification for standard electric dryers. Based on EnergyStar.gov (November 2023).

×
×
  • Create New...