LG Pledges Transition to 100 Percent Renewable Energy by 2050
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By News Reporter
Accelerating Journey Toward Carbon Neutrality, Company
Continues Efforts to Realize ESG Vision of ‘Better Life for All’
SEOUL, June 5, 2023 — LG Electronics (LG) has joined RE100 (Renewable Energy 100), a global initiative advocating for businesses to convert to 100 percent renewable energy for all their electricity requirements. The decision to become an RE100 member is yet another example of its strong commitment to sustainability and to fulfilling its responsibilities as a global corporate citizen.
The company has finalized plans to convert all its business sites to 100 percent renewable energy by 2050. To reach this goal, LG will gradually increase its usage of electricity from renewable sources, such as solar and wind power, to 60 percent by 2030 and 90 percent by 2040, arriving at its target of 100 percent by 2050.
Along with expanding the generation and usage of renewable energy via the installation of high-efficiency solar panels at LG offices and manufacturing facilities, the company will be implementing a variety of additional measures, such as acquiring renewable energy certificates (RECs), signing renewable energy power purchase agreements (PPAs) and, in South Korea, paying Korea Electric Power Corporation’s (KEPCO) green premium.
As part of its ongoing efforts in this area, last year, LG signed a direct PPA with GS EPS, a Korean power generation company, to build a solar power station equivalent to the size of three soccer fields on the roof of the existing integrated production building at LG Smart Park in Changwon, South Korea by 2025. Some solar panels have already been installed and have generated power for select buildings since last December. Around the world, the company has installed solar panels on rooftops of several of its offices, including the LG Sciencepark R&D complex in Seoul, South Korea; the North American Headquarters campus in New Jersey, USA; LG India’s office building in Greater Noida, India; and the Rayong home appliance factory in Thailand.
LG had already established plans to speed up its transition to renewable energy and accelerate its journey toward carbon neutrality. By converting to renewable energy, the company is also reducing indirect carbon (scope 2) emissions generated while using power. In 2019, LG announced its Zero Carbon 2030 pledge to reach net-zero (direct and indirect) carbon dioxide emissions (scope 1 and 2) by the year 2030.
“Through ongoing efforts and innovation, LG is well on its way to achieving its goals of converting to 100 percent renewable energy and becoming a carbon neutral business,” said Lee Sam-soo, chief strategy officer at LG Electronics. “LG remains fully committed to realizing its ESG vision of creating a Better Life for All.”
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By News Reporter
LG has been recognized for its leadership and continuing dominance of the OLED TV market. Celebrating a decade of excellence and customer experience innovation this year, LG OLED remains the top choice in the premium TV segment through its unmatched contrast which enables perfect blacks and true-to-life colors, as well as its unprecedented flexibility and thinness.
According to market research firm Omdia, LG topped the OLED TV market by a landslide in the first quarter of 2023, claiming approximately 60 percent of the market by total shipments.
LG OLED TVs are currently sold in over 130 countries, making them the most widely available OLED TVs in the world. Last year, the accumulated total shipments of LG OLED TVs (since their initial launch in 2013) exceeded 15 million units; making LG the first OLED TV maker to reach this impressive milestone.
Additionally, LG accounted for more than 70 percent of the market for ultra-large OLED TVs – 70 inches and above – in the first quarter. The company is reinforcing its strong position in the ultra-large premium TV segment with industry-leading solutions such as the 97-inch LG SIGNATURE OLED M (model M3), which is the world’s first consumer TV with a wireless solution capable of real-time video and audio transmission at up to 4K 120Hz.
LG’s combined shipments of OLED TVs and LCD TVs in the first quarter were about 5.5 million units, with OLED TVs making up 738,000 of that number. Further, LG owned a 17.1 percent share of the global TV market as of first quarter 2023, by revenue.1
The company’s share of the global TV market has dipped slightly this quarter compared to the same period in 2022. This is mainly due to waning global demand and LG’s increased focus on stock risk management. However, LG OLED TV sales have remained strong, representing more than 30 percent of the company’s total TV sales in the first quarter of 2023.
Meanwhile, total global TV shipments in the first quarter reached 46.52 million units, the lowest figure recorded since the same period in 2009. However, Omdia expects a recovery in the second half of 2023 and predicts shipments to reach 205.51 million units by year-end, a slight increase from last year.
The OLED TV segment is expected to enjoy an upswing as well. Omdia projects that OLED TVs will take 46.1 percent of the premium TV market (USD 1,500 and above) by revenue1 at the end of the year; up 10 percent from 2022 (36.7 percent market share). The rapid rise of OLED TVs is expected to accelerate as a result of more brands having entered the segment in recent years.2
LG offers an increasingly diverse lineup of OLED TVs, with various screen sizes – from 42 to 97 inches – 8K and 4K options, and distinctive designs to choose from. Boasting an array of convenient and image-enhancing features, the company’s OLED TVs deliver unique customer experiences and next-level viewing immersion.
LG’s premium OLED TV lineup also includes the LG OLED evo series, which offers brighter, more lifelike images and LG Lifestyle Screens, which couple stunning picture quality with distinctive designs that add a touch of refinement to any living space. This year, the company will be expanding availability of the LG OLED Objet Collection Posé – a member of the Lifestyle Screen family – to a total of 40 countries worldwide.
LG OLED has been honored at the annually held CES Innovation Awards for 11 consecutive years3 and has received wide praise from major publications, including several “Best TV of the Year” titles and countless claims of being “the best TV I’ve ever reviewed,” “a true Marvel” and “the king of TVs.”
LG has been working tirelessly for the past decade to realize the immense potential of OLED. Building on what it has achieved so far, the company will continue to create and innovate over the next decade, exploring more of the near limitless possibilities presented by its self-lit technology to deliver ever-greater customer value.
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1 Revenue from sales to suppliers and retailers.
2 As of 2022, a total of 21 companies supplied OLED TVs (LG, Skyworth, Konka, Changhong, Panasonic, Vestel, Loewe, Grundig, Metz, Philips, Bang & Olufsen, Sony, Toshiba, Hisense, Funai, Vizio, Sharp, Xiaomi, Huawei, JVC, Samsung).
3 From 2013 to 2023.
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By News Reporter
HiEV Charger, an LG Affiliated Company, Has Unveiled Its
New Portfolio of Convenient and Reliable Electric Vehicle Chargers
SEOUL, May 25, 2023 — LG Electronics (LG) is expanding its electric vehicle (EV) charger solutions business, a move expected to further solidify the company’s position in the fast-growing EV charger segment. LG held a ceremony yesterday to celebrate the commencement of EV charger products manufactured by HiEV Charger (formerly known as AppleMango). HiEV Charger, an EV charging solution company, was acquired by LG, GS Energy and GS Neotek in 2022.
HiEV Charger unveiled its product portfolio during the ceremony, which features four different chargers: two 7kW models (wall-mounted and stand-type) and two fast-charging models (100kW and 200kW). All of the new products offer convenient installation and are suitable for use in multiple environments, such as homes, office buildings and a diverse range of other commercial facilities.
The newly introduced EV chargers boast an array of safety-enhancing features. In addition to being water- and dust-resistant, the chargers are equipped with functions designed to provide electrical and thermal protection throughout the charging process. The new chargers also have a slim depth that supports the efficient use of space, while the inclusion of two connectors means two EVs can be charged simultaneously. Simple management is provided through features like connector lock detection and remote updates.
By combining its know-how and technical prowess from the B2C and B2B sectors, LG is able to deliver differentiated solutions and enhanced customer experiences. The company’s well-established capabilities in manufacturing, quality control, after-sales service and supply chain management create the foundation necessary to achieve sustained success in the EV charging solution business. Looking beyond the domestic market, LG is currently planning EV charging product launches and related collaborations in countries around the world.
The global EV charging market is expected to grow to USD 186 billion by 2030, according to Roland Berger, a global management consulting firm. The market expansion is being driven by several factors, including the ongoing implementation of regulations aimed at protecting the environment, and the continuous progress of vehicle electrification.
“The start of EV charger production marks a significant milestone for LG, propelling us on a journey to becoming a total EV charging solutions provider,” said Suh Heung-kyu, vice president and head of the Electric Vehicle Charging business division of LG Electronics Business Solutions Company. “We will focus on delivering convenient and fast EV charging solutions for EV owners and differentiated EV charging solutions offering diverse form factors and new services for our valued partners.”
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By News Reporter
Reflecting Company’s Objective to Realize a Better Life for All, Proprietary Glass
Materials Offer Hygiene Benefits and Can Help Restore Marine Ecosystems
SEOUL, May 23, 2023 — LG Electronics (LG) is bolstering its advanced materials business by utilizing an in-house developed antimicrobial glass powder and marine glass.1 LG’s antimicrobial glass powder offers excellent hygiene benefits and possesses glass’s characteristic chemical and thermal stability, durability and resistance to discoloration. Demonstrating the company’s commitment to good ESG management, LG’s marine glass can play an important role in helping to restore marine ecosystems. Both products are expected to secure growth opportunities for LG’s new advanced materials business.2
LG has been using its antimicrobial glass powder in several different home appliance lineups, including refrigerators, washing machines and air conditioners, since 2022. Helping to make product usage more hygienic, the company’s antimicrobial glass powder is employed in the manufacturing of plastic parts – such as fridge and dishwasher handles – that come into frequent contact with human skin.
The antimicrobial glass powder leverages LG’s expertise in glass composition design technology and in-depth understanding of the home appliance usage environment. LG’s glass powder offers anti-fungal and antibacterial properties when combined with various materials, such as plastics, fibers, paints and laminates, and is predicted to accelerate the expansion of the company’s advanced materials business.
Additionally, LG’s marine glass is based on the company’s own precise release technology for glass material. When dissolved in water, the marine glass transforms into inorganic ions, which contribute to the restoration of the marine ecosystem by fostering the growth of microalgae and algae in the ocean.
Furthermore, LG’s marine glass is an excellent alternative to the red clay used to help mitigate the ecological damage done by red tides, where harmful algal blooms cause the surface of the ocean to turn red. And because the glass material dissolves in water, it prevents secondary contamination of the marine environment.
With its antimicrobial glass powder serving as the starting point, LG’s advanced materials business is embracing a novel concept aligned more closely with the company’s Better Life for All ESG vision. The business plans to expand its operations to include marine ecosystem restoration, with a view to safeguarding the Earth’s oceans and waterways and contributing to a sustainable future.
LG first started researching glass powder in 1996, and now boasts a total of 219 patents relating to glass powder and its application. The company’s antimicrobial glass powder is made at LG Smart Park in Changwon, South Korea, which produces 4,500 tons of the material annually.
The antimicrobial glass powder was initially applied to LG ovens launched in North America in 2013. Coating the ovens’ interior surfaces, the glass powder is the key technology enabling the EasyClean function, which brings consumers additional value by making LG’s cooking appliances fast and easy to keep clean.
“LG is committed to expanding the scope of application for its glass powder beyond that of other glass materials,” said Lyu Jae-cheol, president of LG Electronics Home Appliance & Air Solution Company. “We believe our advanced materials business can help lead the way to a sustainable future, becoming a new growth engine and a central component of LG’s ESG management portfolio.”
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1 The product may not be available for usage in certain markets because of different regulations.
2 LG’s advanced materials business revised its articles of incorporation last year to include ‘manufacturing and selling functional materials such as glass powder.’
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By NThakare
Hi all,
If u all can check, alexa on my lg c2 oled 55 inch has stopped working sometimes it gives error like its unable to connect to server and now when i give commands to play or pause any music or video, it says it can not do it.
I have reset it multiple times it does not work.
Many users on alexa app skills for lg tv webos are also talking about the same, that means its not limited to me only
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