By News Reporter
Company Continues to Perform Well in Highly Competitive Sector,
Securing Orders Worth KRW 8 Trillion in the First Half of 2022
SEOUL, July 5, 2022 — LG Electronics (LG) continues to establish its position as a major force in the electric vehicle (EV) component solutions business, confirming it has secured orders valued at KRW 8 trillion in the first half of 2022 to deliver its in-vehicle experience to diverse global automakers.
Expanding cooperation with major global car manufacturers including Mercedes-Benz AG, Groupe Renault and General Motors and supplying its P-OLED IVI systems to clients’ electric vehicles, LG is seeking to augment its comprehensive portfolio.
LG’s EV component solutions business is rapidly growing based on its three core businesses sector: the LG Vehicle component Solutions (VS) Company, ZKW Group and LG Magna e-Powertrain.
Acquired by LG in 2018, ZKW Group boasts market-leading vehicle headlamp technology, and a global clientele that includes BMW, Mercedes-Benz AG, Audi and Porsche. Meanwhile, LG Magna e-Powertrain is expanding its worldwide production base, adding a third manufacturing facility (Ramos Arizpe, Coahuila, Mexico) to its existing factories in Incheon, South Korea and Nanjing, China. Construction has already begun on the 25,000-square meter site, which is projected to open in 2023 and is slated to produce key components, such as motors and inverters, for General Motors’ next-generation of EVs.
In the first half of this year, the value of orders for LG’s advanced EV component solutions surpassed the total accumulated value of all orders on hand as of 2021 (KRW 60 trillion) by a mark of 13 percent. The company expects that the accumulated orders placed with its EV components business by the end of 2022 will exceed KRW 65 trillion in value.
Given the decrease in vehicle production due to the shortage of automotive semiconductors and other ongoing global supply issues, the performance is encouraging as the consolidated sales for LG’s EV component solutions business increased up to 24 percent compared to last year, reaching KRW 6.7 trillion.
Based on a report from market research firm Strategy Analytics published in April 2022, LG is estimated to be already leading the global telematics market, boasting a 22.7 percent market share as of the first quarter of 2022 and recording a double-digit market share in the audio, video and navigation (AVN) market since last year.
“Leveraging the advanced core technologies and the strong partnership with the global manufacturers, we will continue to provide differentiated value to our auto-industry customers,” said Eun Seok-hyun, president of the LG VS Company.
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By News Reporter
First in the World to Receive ISO 13849-1 Certification for Mobile Service Robots,
LG Confirms Its Leadership in the Field of Robot Safety Technology
SEOUL, June 28, 2022 — LG Electronics (LG) has again proven its technological capabilities and commitment to creating safe, new innovations for a better life, becoming the first company in the world to receive the ISO 13849-1 certification* for its safety controller module utilized in mobile service robots. The new certification applies to LG’s advanced safety controllers for robots and was issued by Det Norske Veritas (DNV), an international accredited registrar and classification body headquartered in Norway.
LG’s newly developed safety controller for robots ensures the highest level of operational safety and reliability by actively managing robots’ settings, monitoring signals from robots’ sensors in real-time and providing protective deceleration or stop-control whenever any risk is detected.
Composed of only one module, LG’s safety controller boasts a significant advantage over conventional controllers – it can be easily adapted according to the individual specifications of each robot, or to meet the unique requirements of each customer.
Previously, manufacturers had to analyze and evaluate every single aspect of functional safety for each robot they produced, but this is no longer the case thanks to LG’s sophisticated controller. This is expected to help the company authenticate and launch new service robots, such as those from its well-known LG CLOi ServeBot and LG CLOI GuideBot series, more quickly than before.
A leader in the fast-changing robotics industry, LG has accumulated a wealth of data and knowhow through many decades of tireless innovation. The company has introduced a wide variety of robot solutions optimized for settings such as hotels, hospitals and restaurants, and leveraging its diverse technological capabilities, including in the areas of autonomous driving systems, sensors, artificial intelligence and cameras.
Recently, the company announced its full-fledged entry into the next-generation logistics robot market with the launch of LG CLOi CarryBot, developed in collaboration with CJ Logistics, one of South Korea’s largest parcel delivery firms.
“As autonomous robots for both industry and consumer applications are becoming more common, the field of robot safety technology continues to grow in importance,” said Dr. Baek Seung-min, head of the Advanced Robotics Lab at LG Electronics. “We are leading the way in this critical area, leaning on our considerable technological capabilities and real-world experience in applied robotics to provide the highest level of functional safety for the next-generation of autonomous robots.”
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* An international standard for safety-related parts of machinery control systems as defined by the International Organization for Standardization (ISO).
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I am trying to sign into my LG account on my LG C1 OLED TV. The page will not load. All I get is a constant revolving circle. Please help.
By News Reporter
Connected Health, Metaverse, Energizing Mobility Stand Out for New Business
Exploration; $2 Million in LG Funding to Accelerate Business Development
SANTA CLARA, Calif., June 20, 2022 — LG Electronics’ North American Innovation Center (LG NOVA) has announced the “” startups advancing to the next stage of its Mission for the Future global challenge competition.
These top contenders were awarded $100,000 each, $2 million total for 20 proof of concept projects. As they proceed forward, the startups will be working on a business model with LG NOVA counterparts to create a business framework.
“Over the last few months, our work with the First 50 startups has helped us continue to refine our vision for the future as we look at new areas of growth for LG,” said LG Electronics Senior Vice President for Innovation Dr. Sokwoo Rhee, head of LG NOVA. “We’re inspired by all of those who have participated to date with groundbreaking, thoughtful tech innovations to drive and contribute to our collaborative community and guiding principle of ‘outside-in’ innovation. With this announcement, we’re sharing the results of our ongoing work in engaging with the startup and entrepreneur community to create impactful technologies that will lead society into the future.”
Among the startups selected are strong businesses across the Connected Health, Metaverse, and Energizing Mobility sectors that are creating new solutions with the potential to transform markets and industries.
Moving forward to the next phase in the areas of Smart Lifestyles and Innovation for Impact are , a healthcare-related company exploring the area of gut and genetic microbiome; , an AI for the smarter home designed to support activities of daily living for caregivers and families; and , a smart kitchen assistant that offers recipes to cook based on ingredients from your groceries receipts. These three companies represent different aspects of people’s changing priorities on simplifying life and living better with personalized services that will aid in nourishment and help complete daily tasks more efficiently.
In the Connected Health space, the epicenter of innovation is shifting to patient-focused care and wellness, quickened by the pace of new technology adoption in healthcare over the past two years. The startups selected in this area reflect this transition and the potential future services created as people change their perspective on new technology-based care and desire greater control over their health and the health services they receive. The startups singled out by LG NOVA in Connected Health offer innovative technology-based services through AI and the Metaverse, paired with data and services platforms centered around patient care, regardless of the setting.
With the focus on developing an advanced technology platform for providing services, , and have been selected to move to the next phase of NOVA’s challenge. Leveraging AI to provide greater information to patients and providers for better health services, MayaMD is a conversational digital human-AI health assistant. LifeNome is a precision and biological personalized enterprise health platform powered by genomics and AI. Mindset Medical is a camera sensor-based technology platform that can take health and biological readings through your personal device for medical diagnosis by doctors remotely. Expanding upon a platform for patient services, , an employer-sponsored financial wellness platform, gives employees a smarter way to pay for healthcare via on-demand access to funds to pay their out-of-pocket expenses over time at zero interest and zero fees.
, and offer effective alternatives to health and wellness services for patients, through the capabilities of an XR/VR/AR environment. XRHealth is a virtual treatment room that provides patient care and rehabilitation through VR/AR paired with clinicians and real-time data analytics. TRIPP is an XR wellness platform pioneering innovative health and wellness technologies that deepen connection to self through fully immersive alternate realities. NeuroTrainer improves focus and performance with virtual reality brain training.
In the Metaverse space, LG is pursuing a variety of applications with the intent to drive broader adoption of new immersive, interactive technologies and create greater business opportunities. The LG NOVA team’s choice of startups in this category include , and . iQ3Connect provides immersive 3D workspace technology and a no-code platform to enable distributed teams to cost-effectively work, collaborate and train from anywhere, on any AR, VR or 2D device. Snickerdoodle Labs is building a privacy-first, agnostic data-sharing layer where individuals own their data and the value it generates. YBVR brings live events to fans with the technology to quickly turn streaming live video content into new level of fan engagement through immersive viewing experiences.
Lastly, LG’s Energizing Mobility category focuses on the electric mobility sector and EV charging infrastructure ecosystem, which are paramount to achieving a more sustainable future. The selected companies in this category provide a broad range of actionable solutions to increase the feasibility of adoption across the consumer and business markets. offers an affordable and convenient way for electric vehicle owners to charge their EVs without a direct-access charger at home or on the road. provides an EV charging and energy management software platform that enables players in the hospitality industry to offer a disruptive business model of EV charging-as-a-service.
uses innovative AI and blockchain-based DERMS and transactive energy software platforms to enable power optimization across smart cities, smart homes and e-mobility. ’s 3D audio technology improves speech recognition accuracy in challenging soundscapes, transforming voice UI from cloud-dependent experience to a secure real-time and customizable user experience in any environment. has a unique approach to driverless technology and light electric vehicles that introduces a more efficient way to move goods and people.
Chosen from a group of more than 1,300 applicants, the Selected 20 will continue in the process to develop their ideas at the incubation and pilot level, while working closely with LG NOVA’s team of innovation and entrepreneurial experts over the next couple of months—with the goal of being chosen as a Mission for the Future challenge “Top 10” finalist. To be named in August 2022, the Top 10 will have the opportunity to build their business in collaboration with LG on an accelerated path to success, with full access to LG expertise, mentorship, and from and investments from LG.
Since its official launch in August 2021, the challenge has invited innovators and entrepreneurs to submit their business ideas, technologies and concepts that look to advance people, communities and the planet. The initial “First 50” startups selected through the challenge program received access to basic business infrastructural support and networking after demonstrating exceptional proof-of-concept within emerging industries, as well as the potential for a successful partnership within the wider LG business.
Mission for the Future is an annual challenge program that seeks out great ideas, concepts and businesses that will help improve the quality of life in the future. The goal of the challenge is to bring outside-in innovation to LG. In addition to the selected company prizes, the finalists can qualify for resources and investments from an allotted $20 million for new business development and the opportunity to work with LG NOVA’s Incubation team to scale their business.
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