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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

Company Unveils Open SDK, Enabling Developers to Customize and Enhance Smart Home Appliance Experiences SEOUL, Oct. 23, 2024 — LG Electronics (LG) is presenting its Self-Driving AI Home Hub and open Software Development Kit (SDK) at ROSCon 2024, the Robot Operating System Conference, taking place in Odense, Denmark, from October 21 to 23. This showcase provides the company with an opportunity to engage with the global developer community, share its technological expertise and explore new avenues to expand its open platform ecosystem. Now in its 13th year, ROSCon brings together Robot Operating System (ROS) developers – both beginners and experts – to share and present their newest technologies, innovations and ideas. LG’s on-site booth highlights its SDK and Application Programming Interfaces (API) by providing a step-by-step experience of predefined apps using the API Tool. The company is demonstrating the Self-Driving AI Home Hub’s major features and services, including small talk, storytelling and reading sessions utilizing Optical Character Recognition (OCR). In addition, there will be a demo session where developers can create apps for the Self-Driving AI Home Hub using the open SDK. The SDK package gives developers easy access to various Open Application Programming Interfaces (OPEN APIs) and programming tools, allowing them to have greater control over the Self-Driving AI Home Hub and seamlessly expand its software functionalities through ROS 2 and SDK, which support standardized interfaces. SDK is now available on LG’s developer site (q9.developer.lge.com), which also hosts a community platform for interaction and an application marketplace where developers can download apps created by others. LG is also actively seeking partnerships with institutions and companies for collaboration based on the SDK. The company is providing engineering samples for advanced joint development projects and is pursuing Memorandum of Understanding (MOU) agreements. By providing easily accessible programming tools, LG aims to maximize the Self-Driving AI Home Hub’s potential and expand the ecosystem as an open platform. Parties interested can apply for joint development opportunities at q9.developer.lge.com. Baek Seung-min, head of LG’s Advanced Robotics Lab (CTO Division), will deliver a presentation during the ROSCon 2024 Talk session on October 23 at 17:20 (CEST). The talk will focus on the software’s architecture and SDK performance optimization techniques for LG’s Self-Driving AI Home Hub, based on ROS 2. LG will also invite ROS developers to join the growing ecosystem by releasing its SDK, fostering an environment that promotes collaborative efforts on product development with customers. “The introduction of SDK for the Self-Driving AI Home Hub demonstrates our vision of expanding the OS appliance ecosystem with the introduction of downloadable services that permit users to personalize their home appliances,” said Lee Hyang-eun, head of Customer Experience Innovation Division of LG Electronics Home Appliance & Air Solution Company. “This is the latest phase in our mission to expand the OS appliance ecosystem and lead the industry into a new era of smart home appliances.” Visitors to ROSCon 2024 can explore the company’s innovative Self-Driving AI Home Hub with SDK and APIs at the LG booth (#19) situated on the ground floor of the Odeon Concert Hall. # # # View the full article

SEOUL, Oct. 22, 2024 – LG Electronics (LG) has announced its Corporate Value-up Program, a comprehensive plan that includes mid- to long-term business goals and strategies aimed at enhancing enterprise value. The program also outlines policies and plans to enhance shareholder value and future returns. LG believes that sustained growth is the key to enhancing enterprise value. Guided by its “Future Vision 2030,” which focuses on evolving into a future-oriented business structure and achieving sustainable growth, the company is consistently working on transforming its business portfolio. The goal is to achieve KRW 100 trillion in revenue and meet its “Triple Seven” targets: a 7 percent average annual growth rate, a 7 percent operating profit rate and an enterprise multiple (EV/EBITDA) of 7. By 2030, LG expects that the transformed business portfolio areas will account for 52 percent of total sales and 76 percent of operating profit, with an aim for a return on equity (ROE) of over 10 percent by 2027. The shareholder return policy included in this value-up program will be applied for three years, from the 2024 business year to the 2026 business year. It will utilize more than 25 percent of the consolidated net income based on controlled shares (excluding one-off non-recurring profit) for shareholder returns. To enhance shareholder value, the company will continuously review incinerating current treasury shares and explore further buyback options. # # # View the full article

Despite the fact that farmers across the world produce enough food to feed every global citizen, hundreds of millions – many of them children – still go to bed hungry every night. In fact, the Food and Agriculture Organization (FAO) of the United Nations estimates that as much as 733 million people suffer from hunger due to various factors such as weather shocks, conflicts, economic downturns, inequality and pandemics. To bring more attention to global hunger, malnutrition and food insecurity, the FAO assigned October 16 as World Food Day. Under this year’s theme, “Right to Foods for a better life and a better future,” the FAO created a video illustrating the production and sharing of food across different cultures while highlighting that access to a diverse range of safe, nutrient-rich foods should be a human right. In its commitment to spreading awareness, LG showcased this video on its expansive New York Times Square and London Piccadilly Circus billboards as a part of the LG Hope Screen program. Earlier this year, the LG Hope Screens promoted restoration for World Environment Day and, last year, featured FAO’s campaign video for World Food Day 2023. As a global corporate citizen that recognizes the importance of acting now, LG is dedicated to improving the lives of people from all backgrounds through its social contribution activities organized under the company’s Better Life for All vision. LG offices around the world have aligned under this company-wide vision to address various global issues, with a particular focus on alleviating poverty and hunger in less fortunate areas. For instance, LG India has been taking a strong stance against malnutrition by bolstering local children’s food and nutrition security with its flagship CSR project, “The Life’s Good Nutrition Program.” In 2023, LG India leveled this project up by joining forces with Akshaya Patra, a leading NGO, and the Annapoorna Trust, a charitable trust, to serve nourishing breakfasts and lunches to no less than 59,000 children attending government schools across the country. Coinciding with its Better Life for All initiatives, LG Indonesia’s “LG Loves and Cares” program supports various social causes. This program involved the distribution of food packages to locals of all ages, with each delivery reviewed by a leading nutritionist to ensure a nutritional balance that promotes better well-being. With similar programs showcasing its Better Life for All vision running in other parts of the world, including Nigeria, Mexico and Iran, stay tuned to the LG Newsroom for more. # # # View the full article

As smart home and electrification technologies emerge as key trends in the home appliance sector, we are seeing an industry-wide shift away from simple product sales to a more service-oriented business model. Smart home technology simplifies the management of complex devices through a range of helpful automation features. By utilizing insights gained from home appliances and Internet of Things (IoT) sensors, the latest smart home tech can better understand customer’s lifestyles and needs. This, in turn, enables the delivery of proactive, tailored services that reduce the burden of household chores. As the technology advances, we move closer to the realization of what LG calls the Zero Labor Home. *This image is designed to aid understanding of a smart home solution that connects and controls devices within the home (Image Source: Feepik) Smart home solutions have become a major focus not only for appliance manufacturers but also for IoT, telecommunications, construction and big tech companies. The introduction of smart home standards or protocols, such as Matter,1 is enhancing connectivity between appliances, IoT devices and home systems. Moreover, generative artificial intelligence (AI) and ambient computing2 technologies are making it possible for users to control devices and services through voice commands alone, saving them time and making life at home far more convenient. *This image was created to aid understanding One of the leaders in this space, LG recently introduced its latest AI Home solution, offering users the ability to control their home appliances and IoT devices through conversational voice commands. FURON, LG’s generative AI agent and the brain of the AI Home, is able to learn and remember users’ preferences for various devices and apply the appropriate settings in the given situation. Furthermore, LG AI Home connects seamlessly with appliances and IoT devices from a growing number of global brands and integrates flawlessly with various types of apps through ThinQ ON, LG’s AI home hub. The company is continuing to expand its AI Home ecosystem to offer users a broader range of smart home solutions and services. The transition from fossil fuel to electricity-powered products is a significant global trend – one that is expected to accelerate due to the enforcement of international regulations aimed at mitigating global warming. Boilers are rapidly being replaced by heat pump heating systems, gas ranges by induction cooktops and gas dryers by heat pump dryers. Against this backdrop, LG is actively strengthening its research and development (R&D) programs to discover more efficient and reliable heat pump technologies. These efforts include the recent completion of the company’s “global R&D triangle” to create specialized solutions for cold climates, and the hosting of the Global Heat Pump Consortium, which was founded by LG in collaboration with international universities. *This image was created to aid understanding Moving forward, electrification technology will evolve into smart home energy solutions that optimize energy generation, storage and usage within the home. Ultimately, this evolution will give rise to living environments whose occupants can enjoy convenient cooking, heating and cooling – and a dependable supply of hot water – while simultaneously reducing household energy consumption and environmental impacts. Known for its expertise in smart life solutions, LG has always emphasized the importance of innovation. LG’s core technologies, including the linear compressor (refrigerators), Direct Drive motor and TrueSteam technology (washing machines, Styler), and dual rotary and scroll compressors (air conditioners), have played a crucial role in the company’s rise to leadership in the global home appliance market. Looking ahead, the role of LG’s R&D division will be even more vital in discovering new electrification and smart home technologies. Through a commitment to excellence and a spirit of inquiry, LG will continue to lead the way to a better future. By Oh Sai-kee, Head of LG Electronics Home Appliance and Air Solution R&D Center # # # 1 A smart home and IoT device connectivity standard developed by the Connectivity Standards Alliance (CSA). Matter enables seamless interoperability between smart devices and platforms from diverse ecosystems. 2 Ambient computing refers to technology that is able operate invisibly in the background, blending into the environment and working automatically without users noticing its presence. Also referred to as “invisible computing” or “disappearing computing”. View the full article

Company’s Business Monitor Lineup Boasts a Wide Range of Screen Resolutions and Sizes, Offering Versatile Options to Meet a Broad Spectrum of Workplace Needs SEOUL, Oct. 18, 2024 — LG Electronics (LG) is launching its business monitor lineup, introducing 20 brand-new models designed to enhance productivity and ergonomic comfort in the workplace. Well known for its premium consumer monitors, LG is now expanding into the B2B sector with monitors tailored to the needs of diverse professional environments, from corporate and government to education, healthcare and the creative industries. The impressive lineup presents customers with a wealth of choices, including a variety of different aspect ratios and screen resolutions ranging from QHD to Full HD. LG UltraWide Displays: Spacious, High-resolution Screens Available in the 21:9 aspect ratio, LG’s UltraWide business monitors are outstanding multitasking solutions with high-resolution screens. The 34BA85QE-B and 34BA75QE-B feature 34-inch curved QHD+ (3,440 x 1,440) resolution IPS displays that deliver sharp, detailed visuals and accurate color reproduction. They also provide excellent color consistency across a wide viewing angle, ensuring distortion-free images from practically any vantage point. Suitable for government control rooms, financial traders, IT developers and programmers, the extended screen format of LG UltraWide business monitors makes multitasking easier, giving users the space to keep several windows open at the same time. The 34BA85QE-B comes equipped with a built-in webcam and microphone, enabling convenient video conferencing without the need for additional devices. LG’s feature-packed UltraWide business models also offer Picture-by-Picture (PBP) mode, specifically supporting 2PBP, which streamlines workflow by allowing users to display up to two windows side by side. Additionally, thanks to the inclusion of USB-C 3.2 Gen1 with power delivery (up to 90W), LG’s UltraWide monitors can charge connected devices while simultaneously displaying content from them, making life even more convenient for busy professionals. QHD Monitors: Ergonomic Designs with Adjustable Stands Ideal for customer-facing settings, such as government service centers, airports and hotel lobbies, LG’s QHD monitors feature ergonomic designs with height-, swivel-, and tilt-adjustable stands that help deliver customized comfort for each user. This flexibility offers numerous possibilities for monitor-position adjustment. For example, the screen can be significantly lowered to enable direct eye contact and better communication between staff and customers. Furthermore, the inclusion of Reader Mode helps to lessen eye fatigue when reading documents, making the new monitors more comfortable to use for extended periods. The monitors also help safeguard users’ eye comfort with Flicker Safe Mode, which minimizes the occurrence of screen flickering. The company’s QHD lineup includes two 27-inch, high-resolution variants (models 27BA75QB and 27BA65QB), each fitted with a premium IPS display that provides exceptional clarity, a wide viewing angle, 99 percent coverage of the sRGB color gamut and support for SDR and HDR modes. Along with precise color reproduction, both of the new QHD models boast a 100Hz refresh rate that results in smooth visuals and a pleasant user experience. To ensure compatibility with the widest possible range of digital devices and peripherals, LG’s QHD monitors incorporate multiple connectivity options, such as USB-C and HDMI. Full HD Monitors: Enhancing User Convenience LG’s Full HD Monitors are well suited to roles that require users to work with data or content from multiple external devices, offering USB Type-C and other types of USB ports. Available in 27- and 23.8-inches, LG’s business monitors with Full HD (1,920 x 1,080) resolution IPS panels (models 27BA850 and 24BA850) come with built-in speakers and webcams for convenient video conferencing. Each monitor also has its own internal power supply to ensure reliable performance and minimize clutter in the workspace. Reflecting LG’s commitment to sustainable product design, the new business monitors come with globally-recognized energy and environmental certifications, including ENERGY STAR, EPEAT, and TCO Certified. Full HD models 27BA850, 24BA850, 27BA750, 24BA750, 27BA650 and 24BA650 have all earned a silver rating from EPEAT indicating that products meet a broad and robust set of criteria, also making them a more sustainable purchasing option. “LG’s new business monitors meet the growing demand for high-resolution, ergonomically designed workplace screen solutions,” said YS Lee, vice president and head of the IT business unit of LG Business Solutions Company. “With our market-leading B2B monitors, we aim to support the digital transformation of the workforce and enhance the employee experience.” For more information, visit LG IT B2B Digital Showroom. # # # View the full article

LG is committed to ensuring Life’s Good for customers around the world by integrating advanced technology into everyday life and evolving into a Smart Life Solution Company. In line with this, LG Australia recently partnered with Channel Seven’s Dream Home renovation series as an official sponsor. The series featured six pairs transforming suburban homes into Dream Homes, showcasing LG products in real Australian settings. To raise awareness of the partnership and show how LG’s “Life’s Good with Optimism” commitment can make life at home just a little bit sweeter, LG Australia conducted a comprehensive campaign centered around optimism. This campaign leveraged various touchpoints to position LG as a brand that fosters connections and joyful living at home. The campaign commenced with an exciting week-long giveaway in collaboration with Australia’s top breakfast TV program, Sunrise on Channel Seven. Airing daily, this game-show-style competition awarded real Australians a series of LG products to help bring their Dream Home visions to life, creating a sense of optimism and joy within the community. LG Australia also launched an owned consumer promotion featuring renowned interior designer Kate Lawrence. For MyLG members, Lawrence offered two lucky Australians a professional room makeover, complemented by LG products and a voucher to purchase items for their Dream Home through a partnership with homewares retailer, Freedom. An exclusive event was hosted at the newly renovated home of Dream Home contestants Lara and Peter to showcase how innovative technology can create delightful home experiences. This event was part of the lead-up to the Dream Home grand finale. It highlighted LG products in real Australian homes, promoted the LG Australia and Dream Home partnership, and communicated LG’s “Life’s Good” brand promise to a wide Australian audience. A highlight of the event was a panel discussion featuring Dream Home Judge Rosie Morley, contestants Lara and Peter, LG Australia Marketing Director Gemma Lemieux and special guests Rhys and Liam, who also participated in the Dream Home series and renovated Lara and Peter’s home. The panel delved into the evolving role of the home and the significant influence of technology in maximizing joy and happiness in our personal spaces. Guests were treated to a surprise reveal, courtesy of Australian entertaining expert Alex Cadger, who shared his tips and tricks to putting on the perfect party from his years of experience with his home catering company, The Blonde Butler. After a surprise reveal – the best part about a renovation show – of an exceptional grazing table, guests were invited to tour the home, get hands-on with LG products and enjoy an afternoon of food, drink and conversation. To capitalize on the event’s momentum, participants spoke with Dream Home contestants about their experiences and shared insights into the role that smart technology plays in creating your dream space, no matter your expectations, and making life more enjoyable and fulfilling. Following the Dream Home grand finale, the event at Lara and Peter’s home generated online buzz, showcasing LG as a brand that fosters connections and empowers Australians to live their best lives. Overall, the campaign increased consumer preference for LG as a brand that facilitates lasting connections, further reinforcing its position as a Smart Life Solution company. To read more about LG’s Dream Home campaign, visit LG Australia’s Dream Home website. Contributed by LG Australia # # # View the full article

At Frieze London 2024, LG OLED and Akomfrah Bring Art and Technology Together to Inspire Audiences With a Thought-Provoking Film Installation SEOUL, Oct. 11, 2024 — LG Electronics (LG) has once again partnered with the widely respected artist and filmmaker, Sir John Akomfrah, for Frieze London 2024. This collaboration follows LG’s recent support of Akomfrah’s British Pavilion at the 60th International Art Exhibition at La Biennale di Venezia 2024. At Frieze London 2024, LG OLED has invited Akomfrah – an artist and filmmaker known for investigating themes such as memory, post-colonialism, temporality and aesthetics – to present a new video installation at the fair. Becoming Wind (2023) is a five-channel video installation that focuses on the intersection of social and environmental issues, looking specifically at the experience of non-binary and trans actors and activists in the context of the climate crisis. A profound meditation on identity formation is framed by an allegorical representation of the Garden of Eden and its disappearance; a montage of footage evoking the abundant richness of past biodiversity is interrupted by glimpses of blazing wildfires, scenes of racial discrimination and a fragmented text, underscoring responsibilities to confront multiple and intersecting crises. Powered by the compelling fusion of art and technology, multiple ultra-large LG OLED displays bring Akomfrah’s artistic narratives to life with stunning picture quality on an incredible scale. Notably, LG OLED’s self-lit nature reveals the full, vivid expression of the colors, enriching the depth and realism of the artwork’s multi-sensory elements for a truly immersive experience. LG’s commitment to making LG OLED a more sustainable choice closely aligns with Akomfrah’s drive to address climate change, human communities and the plight of migrant diasporas globally. LG OLED TVs incorporate fewer components than LCD TVs due to the absence of a backlight, which results in the 65-inch OLED TV using 60 percent less plastic compared to an LCD TV of the same size. Weighing in at about 20 percent less than an LCD TV of the same screen size, OLED screens also contribute to the reduction of CO2 emissions during transit. In addition, recycled plastic accounts for approximately 20 percent of the plastic used in the manufacturing of all LG TVs, including OLED models. These efforts have culminated in LG OLED TVs receiving environmental product certifications from the UK’s Carbon Trust and Switzerland’s SGS for four consecutive years, underscoring the company’s commitment to sustainability.* “I’m truly delighted to be able to bring my artistic vision to life with LG OLED,” said Akomfrah. “Becoming Wind aims to draw viewers into a deep state of contemplation about the intrinsic relationship between nature, humanity and technology through the interplay between sound and visuals. LG OLED’s advanced audiovisual capabilities and technological advancements enhance the sensory elements of the art, seamlessly integrating image, sound and emotion to take audiences on a visually compelling and intellectually stimulating journey.” “We are pleased to continue our collaboration with renowned artist Sir John Akomfrah to highlight how LG OLED captivates audiences by enhancing the depth of his thought-provoking artwork,” said Kate Oh, vice president of the Brand Communication Division at LG Home Entertainment Company. “LG OLED remains committed to supporting both artists and audiences who embrace our passion for innovation and positive change. We will continue to empower artists who seek to inspire the world through the intersection of art and technology. Visitors to Frieze London 2024 can experience Akomfrah’s artwork Becoming Wind from October 9 to 13 at The Regent’s Park. Visit the website to step into a world of artistic brilliance and explore captivating collaborations with LG OLED ART. # # # * Carbon Trust: Carbon Footprint Reducing certifications (2024 LG OLED evo G4 77”/65”/55”) Carbon Footprint Measured certifications (2024 LG OLED evo G4 97”/83”, C4) SGS: Environmentally Evaluated certifications (2024 LG OLED evo G4/C4/B4) View the full article

LG Aims to Expand Its B2B Offerings and Build a Growth-Driven Portfolio in Emerging Sectors SEOUL, Oct. 10, 2024 — LG Electronics (LG) held a press conference today at LG Digital Park in South Korea to share its future vision for the B2B sector with domestic journalists. The company outlined its goal for the LG Business Solutions (BS) Company to achieve KRW 10 trillion in annual revenue by 2030. At its 2024 Investor Forum in August, LG highlighted the acceleration of its B2B operations as one of the central components of its business portfolio innovation strategy. By 2030, the company expects that its B2B concerns will account for 45 percent of total sales. LG plans to strengthen its leading B2B businesses, such as hotel and hospital TVs, digital signage and premium laptops, while also focusing on medical monitors and electric vehicle (EV) chargers to build a sustainable, growth-focused portfolio. Additionally, the company is rapidly strengthening its B2B capabilities across a wide range of areas, including vehicle components, HVAC systems, built-in appliances and smart factory solutions. The expansion into mobility and new business segments is part of the company’s strategy to accelerate its business transformation. Leading LG’s flagship B2B businesses, the LG BS Company offers customized digital signage for various commercial spaces, including hotels, retail stores, offices, schools and hospitals, as well as IT products ranging from high-spec monitors to LG gram laptops, commercial robots and EV charging solutions. The B2B sector is less affected by economic fluctuations than B2C, resulting in comparatively stable revenue and profits. Another advantage of B2B is the “lock-in” effect, which typically leads to close, long-term relationships with customers and a virtuous cycle of mutual growth. “Over the past 66 years, LG has accumulated valuable insights into its customers and the diverse spaces they occupy through its consumer electronics business,” said Jang Ik-hwan, president of LG Business Solutions Company. “Going forward, we will leverage this expertise to offer tailored services and differentiated solutions to our business customers, further cementing our reputation as a trusted partner in the competitive B2B market. The BS Company is seeking to double its current revenue, reaching KRW 10 trillion by 2030.” Driving the Commercial Display Market with Premium Signage and Hospitality TVs LG has gained a leading position in the B2B display solution market thanks to its top-tier commercial display technology, premium digital signage and strong performance in the global hotel and hospital TV segments. LG’s information display business has experienced steady growth since 2019, recording an average annual growth rate of seven percent. LG will continue to expand its display solutions business with products tailored for various spaces. The focus will be on premium fine-pitch LED signage (including All-in-One LED and Micro LED models), a product category that has seen a double-digit rise in revenue each year. At the forefront of this expansion is the cutting-edge LG MAGNIT Micro LED display. LG MAGNIT is offered in various formats, including an all-in-one model for conference rooms, a model designed for virtual production studios, a premium home cinema edition and a model with a separate power supply unit (PSU). Since 2020, MAGNIT has recorded an impressive growth rate, with its annual revenue growth nearing a twofold increase on average over the past four years. Additionally, LG is strengthening its portfolio of innovative digital signage solutions with products such as the next-generation LG Micro LED display, which is set to launch later this year. LG has employed the latest AI technology for its upcoming Micro LED, both during the production process and to create intelligent image-quality algorithms that help ensure superior visual performance. As part of the manufacturing process, AI is used to assess and select each of the product’s approximately 25 million LED chips (based on a 136-inch model). Meanwhile, the AI processor applied to the LG Micro LED display analyzes and optimizes color and brightness in real-time to deliver optimal picture quality. To drive future growth, LG is actively working to identify potential demand and will keep on adding to its diverse lineup of tailored hardware and software solutions for commercial spaces. Preferred by customers around the world, LG’s hospitality TVs boast many user-friendly features, including the ability to wirelessly mirror personal devices screens via Google Chromecast or Apple AirPlay. Hotel guests simply scan the QR code displayed on the TV to watch content from their device on the TV’s larger screen. To protect users’ privacy, viewing history and connection data are automatically deleted upon check out. LG continues to maintain its strong leadership in the global hospitality TV market, and is collaborating with renowned international hotel chains including IHG Hotels & Resorts, and Hyatt. In addition to its hardware offerings, LG provides a variety of cloud solutions through its online B2B platform, LG Business Cloud. These include the LG DOOH Ads digital signage advertising solution, LG SuperSign Cloud and Pro:Centric digital signage and hospitality TV content management solutions, and LG ConnectedCare remote monitoring and management solution. To accelerate its expansion into new business areas and enhance overall competitiveness, LG is fostering strategic partnerships with global B2B companies. It recently signed a memorandum of understanding with office solutions provider Ricoh to explore the development of comprehensive enterprise services. Strengthening LG’s Position as a Leading EV Charging Solutions Provider LG is set to expedite its growth in promising new business areas, with the company’s EV charger business standing out as an emerging “unicorn.” Through strategic partnerships and investment, LG is poised to increase its presence in the global EV charger market. LG opened its EV charger production factory in the U.S. (Texas) in January of this year and in June reached an agreement with ChargePoint, a leading provider of networked charging solutions for EVs in North America. The two companies are collaborating to expand their businesses by boosting product sales through distribution channels, reinforcing their product portfolios and jointly developing next-generation solutions. Additionally, LG is leveraging its extensive B2B sales network in the U.S., established through its nationwide success in hospitality TVs and digital signage, to actively target the country’s increased demand for EV charging infrastructure. This includes the necessary charging framework for hotels, shopping malls and retail stores, as well as highway charging stations and depots. LG aims to secure around eight percent of the U.S. fast charger market by 2030 and position itself as a global top-tier provider of EV charging solutions. At present, LG offers six types of EV chargers, including 7kW and 11kW slow chargers, and 100kW, 175kW, and 200kW fast-charging models.1 In addition, the company is producing a 350kW ultra-fast charger for the North American market and plans to release two slow-charging models – 30kW and 7kW – targeting the European market, all scheduled to launch by the end of this year. Furthermore, LG is proactively addressing concerns over EV charger safety by implementing various fire-prevention solutions. The charging control system applied to LG’s EV chargers prevents overcharging, which is one of the leading causes of EV charging safety incidents. The control system automatically stops charging when the vehicle battery reaches 80 percent during fast charging and 100 percent during slow charging. Additionally, LG chargers are equipped with a load management system that allocates electricity based on the installation site’s power capacity, ensuring stable charging even with limited power availability.2 The installation environment and consumer safety are key considerations in the design of every EV charger that LG makes. The company’s 175kW fast-charging model operates reliably in extreme temperatures ranging from -35 to 55 degrees Celsius and boasts an IP55 rating for water and dust resistance, along with an IK10 rating for impact resistance. Additionally, LG EV chargers comply with Restriction of Hazardous Substances (RoHS) regulations for the use of ten harmful chemicals such as lead, cadmium and mercury during the manufacturing process. Prioritizing Medical Monitors as a Key Growth Engine LG is focusing on the medical monitor sector as a new growth driver for its IT business, with plans to become a global top-three medical monitor provider within the next five years. Medical monitors are required to meet the medical device regulations of each country, as well as medical imaging display standards, such as DICOM Part 14. Delivering excellent image accuracy and reliability, these monitors are considered premium products with high entry barriers, and are recognized as high-value-added products. According to market research firm Omdia, the global medical monitor market is expected to reach approximately USD 2.5 billion in value by 2030. In markets such as North America and Europe, hospitals are required to use medical-grade monitors for the reviewing of medical images obtained from X-rays, endoscopies and other procedures. With these strict regulations in place, the market for medical-grade monitors is expected to grow significantly in the future. Launched in 2016, LG’s medical monitor business has steadily expanded in size, achieving close to double-digit annual growth in North America and Europe. Its product lineup, which is now available in more than 50 countries worldwide, currently comprises 14 types of medical monitors – including clinical, diagnostic and surgical models – and six types of digital X-ray detectors (DXDs). LG offers healthcare institutions a diverse range of medical monitors, including surgical monitors with Mini-LED technology, specialized diagnostic monitors for mammography and high-resolution displays with screen-split features. By adopting a turnkey solution approach, LG has enhanced its competitiveness in the global medical display market and set a solid foundation for future growth. In 2023, the company made significant strides in the medical display segment by securing a four-year, EUR 10 million contract with Centrale d’Achat de l’Informatique Hospitalière (CAIH), France’s public hospital IT purchasing center, for the supply of medical monitors. Looking ahead, LG plans to integrate AI technology into the data analysis and solutions derived from its medical monitors and digital X-ray detectors, and is also considering an entry into the medical imaging equipment sector. LG’s success in the B2B sector owes much to the company’s technology and knowhow accumulated over many years in the B2C market. Recently, LG is in discussions regarding a contract to supply a U.S. financial services company with custom-built, high-resolution monitors for a period of five years. LG has supplied dual monitors to a U.S. financial media company and provided in-flight entertainment (IFE) displays to international airlines. # # # 1 LG’s 7kW and 11kW slow chargers and 100kW fast charger are available in South Korea, while the 175kW and 200kW fast-charging models are available in North America. 2 LG’s load management solution, which has already been applied to the company’s fast- and slow-charging EV charging solutions in North America, will be introduced in South Korea beginning next month. View the full article

Designed for the Healthcare Sector, Company’s Latest Medical Monitor Provides Impressive Imaging and Convenient Features SEOUL, Oct. 9, 2024 — LG Electronics (LG) is launching its new 31.5-inch surgical monitor (model 32HR734S) featuring advanced Mini LED display technology. Designed to provide color video displays of images from surgical endoscopes, laparoscopic camera systems and other compatible medical imaging systems, LG’s monitor has received 510(k) clearance from the U.S. FDA, indicating it can now be sold in the U.S. The 32HR734S’s Mini LED technology enables precise brightness control and provides a wide color range, optimizing image clarity and color, making it an ideal choice for a variety of surgical applications, including laparoscopy and endoscopy. The 32HR734S features a 31.5-inch, 4K resolution (3,840 x 2,160) Mini-LED display leveraging thousands of tiny LED diodes as the Back Light Unit (BLU). Delivering 2,000 cd/m² peak brightness and a dynamic contrast ratio of 1,000,000:1, LG’s medical monitor leverages 1,536 local dimming zones to produce clear, detailed images and enhanced visual contrast. The display also provides excellent color consistency across the screen and boasts 98 percent coverage of the DCI-P3 color space. In addition to its impressive visual performance, the 32HR734S delivers the durability and reliability necessary for surgical settings. Employing Optical Bonding technology, along with Anti-Glare, Anti-Reflection and Anti-Fingerprint coatings on its front, LG’s 32HR734S 4K surgical monitor ensures optimal visibility even in brightly lit operating rooms. What’s more, the front and rear of the product (IP45- and IP32-rated, respectively) offer excellent resistance to water and dust, preventing fluids or particles from disrupting monitor operation during surgeries. The 32HR734S is also the first LG surgical monitor to incorporate the innovative Clone Screen feature. Clone Screen allows users to duplicate the image being displayed on the 32HR734S on a second monitor (connected via HDMI), significantly enhancing operational efficiency and communication within the surgical environment, especially in situations where multiple medical professionals need to view the same image. For added versatility, the display’s Mirror Mode makes it possible to flip the on-screen image horizontally, while Rotation Mode can rotate the image 180 degrees to match the orientation of the surgical camera. The 32HR734S also provides Picture-in-Picture (PIP) and Picture-by-Picture (PBP) functionality, the latter allowing the display of up to four different image sources simultaneously. This enables medical staff to view a combination of inputs or images, such as laparoscopic and fluoroscopic images, while monitoring the patient’s vital signs at the same time. “Featuring advanced Mini LED technology, the 32HR734S delivers the excellent picture quality and convenient functionality needed in surgical settings,” said YS Lee, vice president and head of the IT business unit of LG Business Solutions Company. “We believe our new model will significantly boost efficiency for medical professionals performing and assisting with surgeries.” Key Specifications: LG Surgical Monitor (32HR734S) Size 31.5-inch Backlight Technology Mini LED Screen Resolution 4K (3,840 x 2,160) Display Panel Type IPS Aspect Ratio 16:9 Surface Treatment Protection Glass (Optical Bonding, Anti-Reflection, Anti-Fingerprint, and Anti-Glare) Color Gamut (Typ.) DCI-P3 98% Brightness (Typ.) 800cd/m² Brightness (Stabilization) 500cd/m² Peak Brightness (Typ.) 2000cd/m² Color Bit 10bit Contrast Ratio (Typ.) 1,000:1 Response Time (Gray-To-Gray)1 5ms Features DICOM Compliant Yes Hardware Calibration LG Calibration Studio HDR HDR 10, HDR Effect Video Signals Input Terminals HDMI x 1, DisplayPort x 1, SDI (12G / 3G) x 4, DVI-D x 1 Output Terminals HDMI (Clone Screen) x 1, SDI (12G / 3G) x 4 Connectivity USB USB 3.0 1 Upstream, 1 Downstream Power AC Input 100-240Vac, 50/60Hz Power Consumption 130W (Max) / Less than 0.3W (DC Off) Durability IP Resistance Rating2 IP453 (Front), IP324 (Except for Front), IK065 User Convenience PBP Yes (2 / 3 / 4 PBP) PIP Yes Screen Flip Mirror Mode, Rotation Mode Failover Input Switch Yes Physical Specifications Weight 9.7 kg Wall Mount Size 200 x 100 / 100 x 100 mm # # # 1 GtG: Gray-to-gray response time. 2 Tested under controlled laboratory conditions with an IP/ IK rating. Dry before using. Do not charge while wet. 3 IP45: Protected against solid foreign objects of 1.0 mm and greater / Protected against access to hazardous parts with a wire / Protected against water jets. 4 IP32: Protected against solid foreign objects of 2.5 mm and greater / Protected against access to hazardous parts with a tool / Protected against vertically falling water drops when enclosure tilted up to 15°. 5 IK06: Protected against 1-joule impacts. *Specifications may vary by region and all features, standards, and other product specifications are subject to change without notice or obligation. View the full article

Company Sets New Record for Third Quarter Revenue SEOUL, Oct. 8, 2024 — LG Electronics Inc. (LG) today announced its preliminary earnings results for the third quarter of 2024, reporting a consolidated revenue of KRW 22.17 trillion and an operating profit of KRW 751.1 billion. The company achieved record-high quarterly revenue, marking its fourth consecutive quarter of year-over-year revenue growth since the fourth quarter of 2023. However, operating profit declined compared to the same period last year due to increased logistics and marketing expenses in the second half of 2024. In a conference call held after the second quarter earnings announcement, the company mentioned the average maritime freight rate per container is expected to increase by approximately 58 percent year-over-year in the second half and marketing costs, including advertising expenses, are expected to rise. For the first three quarters of 2024, cumulative revenue reached KRW 64.96 trillion, accompanied by an operating profit of KRW 3.28 trillion. Despite challenges such as delayed demand recovery, rising raw material prices and shipping costs, LG has steadily increased its revenue over the past three quarters. The company’s efforts to upgrade its business portfolio—through changes in business models and methods and by strengthening its B2B operations, which are less sensitive to economic fluctuations—have sustained its growth and enhanced its core competitiveness. Key initiatives, such as the introduction of subscription service business models and the expansion of volume-zone lineups alongside direct-to-consumer (D2C) sales, have driven consistent sales growth in core business areas like home appliances. On the profitability front, LG’s rapidly growing platform-based content and service businesses are increasingly contributing to overall operating profits. In the home appliance sector, LG’s subscription services business continues to expand. Although third-quarter profitability was impacted by increased shipping costs and slower demand recovery in key markets, the company plans to address these challenges by diversifying its product portfolio, growing its online sales and tailoring offerings to meet regional market needs. Although LG Magna e-Powertrain has experienced some impact from demand stagnation in electric vehicles, the vehicle components sector is ensuring a steady supply for its orders, which are already around KRW 100 trillion. Meanwhile, LG aims to increase sales of high-value-added products, including advanced driver assistance systems. In the home entertainment sector, OLED TV demand saw a gradual recovery in key markets such as North America and Europe during the third quarter. However, increased cost for LCD panel prices compared to the same period last year affected overall profitability. LG’s webOS-based content and service business, a key contributor to the business’ operating profit, is expected to continue its rapid expansion. The company plans to strengthen its content offerings, enhance user experience, expand its ecosystem and boost its advertising business to drive future growth. In the business solutions sector, LG is intensifying its customized offerings for specific verticals, leveraging its diverse product lineups. The company plans to expand its premium IT lineup, including AI PCs and gaming monitors, and secure future technologies such as virtual production solutions to support the ongoing growth of its commercial display business. Investments in promising new ventures, including robotics and electric vehicle chargers, will also continue steadily. These figures are tentative consolidated earnings based on K-IFRS provided as a service to investors prior to LG Electronics’ final earnings results, including net profit. Details regarding each division will be announced officially later this month. # # # View the full article

Putting words into action is a critical component of LG’s Life’s Good motto. This has manifested itself across a wide range of activations in the U.S., most recently as part of LG Electronics USA’s partnership with the New York Yankees, one of the most recognized and successful sports franchises in the world. As “The Official TV Partner of the New York Yankees,” the LG OLED brand has been infused throughout iconic Yankee Stadium. Recently, LG expanded its partnership to include a cause-related component that will benefit the community around the stadium. This effort will support renovations at Elston Gene Howard Field, which sits across the street from the current Yankee Stadium on the site of the original Yankee Stadium. LG’s donation of USD 50,000 will assist in upgrades to the three ballfields at the location, which is utilized by the Bronx community and the Yankees’ Summer Night Lights program. During an on-field ceremony at Yankee Stadium prior to the Yankees-Red Sox game on September 12, LG USA CEO Chris Jung presented a check to NYC Parks Bronx Borough Commissioner Jessenia Aponte and Administrative Parks and Recreation Manager Clinton Johnson. “We believe in investing in the communities where we live and work. This collaboration with the New York Yankees enables us to improve these fields for the benefit of the youth of New York City,” said LG Electronic USA CEO Chris Jung. “Creating an environment where children can enjoy positive experiences helps ensure ‘Life’s Good’ in their community and provides a tremendous asset to their growth and development.” “LG has been a tremendous partner, and they are employing that same forward-looking, collaborative spirit toward the Bronx community, which utilizes Elston Gene Howard Field extensively throughout the year,” said Yankees Senior Vice President of Corporate/Community Relations Brian Smith. “This donation will positively impact thousands of Bronx residents who rely on the park for exercise, recreation and team sports, including the children who participate in the Yankees’ Summer Night Lights programming. We salute LG’s contribution and look forward to seeing the benefits of their donation bear fruit for many years to come.” Having just completed its second season, Summer Night Lights serves approximately 300 children and teenagers from the Bronx between the ages of 12 and 18 who take part in tournament-style, co-ed baseball and softball games on Tuesday and Wednesday nights throughout July and August. The program is designed to keep area young people engaged in recreation and character-promoting activities on summer evenings, when midweek organized activities for young people are difficult to find. Contributed by LG USA # # # View the full article

Although stress is a natural feeling that affects everyone, managing it has become increasingly difficult in today’s digital age. Recognizing this, LG Taiwan recently organized a special forum to help local customers address their anxiety and better manage stress, as part of the global “Optimism your feed” campaign and “Life’s Good with Optimism” initiative. In the build up to this forum, LG Taiwan launched a psychological test on its Instagram page, aimed at raising awareness about social media-induced anxiety. This initiative helped followers gain a better understanding of the stress they experience from their digital lives. Held on August 10, the forum featured esteemed psychologist Dr. Hui-Wen Deng and renowned YouTube film critic “Lessons from Movies.” They shared their professional insights and experiences on how social media impacts mental health and provided attendees with practical strategies to manage stress and maintain optimism, aligning with LG’s Life’s Good philosophy. Dr. Deng explored the negative psychological effects of social media, emphasizing the importance of initiatives like LG’s “Optimize your feed” to help people navigate their online lives without feeling overwhelmed by anxiety. The event also featured the host of popular YouTube channel “Lessons from Movies,” who shared her personal experiences as a key opinion leader, offering valuable techniques to embrace optimism in the face of criticism. This event was a hit, with over 100 sign-ups within just half a day and nearly 80 percent of attendees participating in the interactive Q&A session that was held on the day. Many sought advice on how to overcome challenges and maintain an optimistic outlook on life, with many hailing the event as a source of useful information. One guest asked if either of the speakers would be collaborating with LG Taiwan on similar events in the future, or if LG Taiwan had more activities promoting “Optimism” in the works, suggesting a strong desire for more events like this. On site, Instagrammable photo props and check-in gifts were provided to encourage participants to share their experience with friends and followers via social media. And as they left eager to try out the new techniques they had learned, LG handed out stress-relief fortune cookies and stress balls to each person in the hope of leaving a lasting positive impression and giving them constant reminder of its Life’s Good message. LG Taiwan’s stress forum not only highlighted the importance of optimism in today’s digital world but also reinforced the brand’s dedication to enriching people’s lives. By providing valuable insights and practical advice on managing stress, LG is helping people navigate the complexities of their online lives, while promoting a message that Life’s Good every day, not just on the good days. Contributed by LG Taiwan # # # View the full article