LG Announces Organizational Changes to Propel Future Vision 2030
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By News Reporter
In its pursuit of automotive solutions that prioritize safety and reliability, LG has achieved several impressive milestones in the automotive security space. In August, the company’s Vehicle to Everything (V2X) solution for Volkswagen
link hidden, please login to view. This certification confirms that LG’s VW Transceiver Module and V2X technology offer comprehensive protection against unauthorized access or interference and comply with global IT security standards.
At the 5G Automotive Association (5GAA) conference in Berlin, Germany, from October 21-24, LG introduced its latest innovations in future mobility: “Soft V2X” and “Smart Roadside Units (RSU).” This integrated traffic safety solution leverages V2X technology to collect and anonymize data, such as the location, direction and speed of pedestrians and vehicles. This data is shared and analyzed in real-time via the Soft V2X Cloud and various devices equipped with Soft V2X software, allowing for timely alerts to users regarding potential dangers. In addition, Soft V2X collaborates with Smart RSUs to provide essential safety information like traffic conditions, potential hazards and signals timings. The software is engineered for compatibility with a range of autonomous vehicles and delivery robots, opening up possibilities for future mobility applications.
LG is leading the development of Soft V2X and Smart RSU, utilizing the results of these validations as a foundation to evolve toward Harmonized V2X. LG is continuously strengthening and maintaining its leadership by proposing the technological direction and validating every step of the way. Through these advancements, LG engaged with global companies at the conference, encouraging them to join in this strategic journey. The company outlined the steps toward Harmonized V2X, emphasizing its practicality and efficiency. Many global companies resonated with this vision, positioning the commercialization of V2N services as a top priority on the 5GAA roadmap.
During the conference, LG offered attendees a firsthand experience of its integrated safety solutions in real-world conditions by inviting them to ride in vehicles and shuttles along a 5.6-kilometer stretch of road in Berlin equipped with various V2X technologies. A video demonstration illustrated the numerous use cases and technologies involved.
The demonstration showcased how the system enhances road safety. For example, if a pedestrian, cyclist and driver all use the Soft V2X app, the applications can detect each other and share anonymized information. This allows the driver to receive alerts to slow down if a pedestrian or cyclist is approaching a crosswalk (or jaywalking) at high speed. The app also provides real-time updates about approaching emergency vehicles or construction work, enabling the driver to adjust their route for a more efficient journey. Even in situations where a pedestrian is not using the app, the vehicle’s application can still receive data from surrounding Smart RSUs to notify the driver.
In Berlin, Kim Hak-seong, leader of Advanced V2X Task at LG Electronics, presented “Steps Forward for V2X Evolution,” focusing on pilot projects making school and kindergarten zones safer in South Korea.
LG is also ensuring global compliance for seamless market integration. The company is well-designed to meet global standards, enabling seamless, sustainable and scalable market expansion. It complies with European Telecommunications Standards Institute (ETSI) standards for the European region, as well as Society of Automotive Engineers (SAE) standards for the North American region.
As a founding member of the 5GAA, LG collaborates with leading global automakers, telecommunications companies and automotive component manufacturers to develop autonomous driving and traffic safety technologies.
With Soft V2X and Smart RSU technologies as cornerstones for future connected mobility V2X solutions, LG is continuously pursuing the next step, known as Hybrid V2X. This involves integrating V2X direct communication with V2X network communication to improve various aspects such as coverage extension, high reliability, scalable architecture, versatile devices and various vertical industries.
To extend its lead in the global market, LG continues to introduce new and improved traffic safety and autonomous driving solutions, including Soft V2X. This underlines the company’s commitment to realizing innovative solutions that not only bolster people’s safety today but also bring future mobility closer to fruition.
Stay tuned to the to learn about the countless ways its latest technologies are changing the world for the better.
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By News Reporter
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
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By News Reporter
“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
link hidden, please login to view, 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 . 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 ,” 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
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* 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.
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By News Reporter
Winners Showcase Family-Friendly Gaming Innovations and
Address the Growing Interest in AI Technologies at LG webOS Summit
SEOUL, Oct. 1, 2024 — LG Electronics (LG) announced the winners of its webOS TV platform hackathon, which took place at the LG webOS Summit last week. The event was geared toward AI-based solutions and gaming services, and sought ideas to enhance the gaming category on the Smart TV.
Developers from around the world applied for the opportunity to present their ideas for apps or services to be used on webOS-based LG Smart TVs in millions of homes, with the goal of diversifying and improving the gaming experience on the LG TVs powered by webOS.
Over three hundred entries were submitted from more than 50 countries. Finalists were invited to present their ideas onstage to a panel of LG executives and over 300 market-leading companies. The top three winners received a meaningful opportunity to engage with the LG team to develop their ideas and resources for business implementation on webOS. They will continue to work with the LG team to prepare the family-friendly gaming solutions for LG TVs by June 2025. Cash prizes were awarded to the top three winners of the hackathon, with the Grand Prize of USD 100,000 for first place, USD 80,000 for second place and USD 50,000 for third place.
Grand Prize Winner: The Quest of Sunflower by Couchplay
An epic adventure game based on an AI-generated story, featuring stunning graphics, immersive audio and responsive game play suitable for the whole family.
Second place: Signs of Magic by Lukas Klingsbo
Set in a magical world, this game follows the wizard Elowen as she battles invading creatures known as Astromentals. It integrates LG Magic Remote sensors to create an immersive experience that brings the action to life.
Third place: Thormdeil: Into the Unknown by TV Games
The first single-player RPG developed exclusively for a Smart TV platform, featuring seasonally AI-generated content. Players navigate dark dungeons, face survival challenges and uncover hidden truths.
“The amount of participation and entries we received this year is proof of the growing interest in the AI and gaming categories,” said Chris Jo, senior vice president of platform business at LG Home Entertainment Company. “We’re no longer simply watching television. The developer ecosystem’s role in improving the lives of millions of consumers in their homes is exponential, and LG plans to hold this event annually to foster webOS app developer ecosystem.”
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By News Reporter
Company Drives Strategic Growth With AI webOS, an Intelligent Platform
that Delivers Outstanding Customer Value and Unique User Experiences
SEOUL, Sep. 30, 2024 — LG Electronics (LG) last week held webOS Summit 2024 in Incheon, South Korea, sharing its strategic vision and future initiatives for expanding the AI webOS ecosystem and growing its platform business. Themed “Empowering webOS with AI,” the second webOS Summit played host to around 300 attendees representing 140 partner companies – including content developers, producers and providers – from 24 countries. The event also marked a major milestone: the tenth anniversary of the launch of webOS on LG smart TVs.
AI webOS plays a pivotal role in LG’s ambitious business transformation, shifting from a consumer electronics manufacturer to a Smart Life Solution Company. With a strategic investment of over KRW 1 trillion (USD 740 million), LG aims to significantly enhance the capabilities of its webOS platform and related businesses.
To achieve its strategic vision and elevate the value of its unique offerings, LG is continuously broadening the extensive selection of content and services accessible on AI webOS. The platform, which delivers exceptional experiences to LG TV users in over 180 countries, currently provides over 4,000 apps, including those for entertainment, home fitness, education and gaming.
This year, LG is reinforcing the reputation of AI webOS as an advanced gaming platform by adding a variety of new services and experience innovations. At present, the cutting-edge platform offers around 4,500 games across popular cloud gaming services such as GeForce NOW and Amazon Luna. To make gaming on its TVs even more responsive, LG has teamed up with MediaTek and Razer, leveraging new Bluetooth Ultra-Low Latency (BT ULL) technology to reduce input lag to an imperceptible 1ms when using a Bluetooth gaming controller. Demonstrated during webOS Summit 2024, this impressive responsiveness enhances the cloud gaming experience, giving users more precise control and making gameplay more immersive.
LG is also bolstering its competitive edge in content and services by actively seeking out and securing top industry talent. The company recently hosted a global hackathon to discover compelling new games and AI-powered content suitable for AI webOS and is also collaborating on game development with respected institutes of higher education, such as Sungkyunkwan University and New York University.
Furthermore, with the introduction of webOS Pay, LG has made it faster and more convenient for users to purchase content and services on AI webOS. The simple-to-use payment service contributes to the seamless, personalized shopping experience on LG’s intelligent platform.
Over the last decade, LG has sold a remarkable 220 million smart TVs and has consistently strengthened its webOS platform business through licensing agreements with an array of local and global companies. LG first made webOS available to other TV makers in 2021, and since then, the versatile platform has been adopted by over 400 brands. The company is now poised to further expand the webOS ecosystem via an array of webOS-powered automotive infotainment solutions, digital signage, smart monitors, gaming monitors and projectors.
Additionally, the webOS platform is shoring up LG’s strong competitiveness in the advertising business. In 2024, revenue generated by advertising and services on webOS is projected to exceed KRW 1 trillion, which represents a fourfold increase from 2021.
A significant contributor to this excellent performance is LG Channels, a free, ad-supported streaming service that provides over 3,800 channels and is now available in 29 countries. The company has augmented its already stellar offering of top-notch viewing options on its free service with the launch of LG Channels Showcase and LG 1 – new channels boasting a curated selection of premium entertainment. What’s more, LG is adding value to the user experience via the provision of AI-based ad solutions that make content recommendations even more relevant to user preferences.
With its Affectionate Intelligence vision for a more caring, empathetic and attentive AI technology, LG is continuously enriching and enhancing the customer experience. The application of Affectionate Intelligence allows webOS users to enjoy easier control as well as personalized content and service recommendations suited to their individual tastes and lifestyles. Through collaborations with innovative partner companies and the seamless integration of the latest technologies, LG is constantly refining its cutting-edge platform.
Along with informative presentations and demonstrations, webOS Summit 2024 featured an experience zone where attendees were able to see first-hand how powerful AI technologies are driving customer experience innovation on webOS. One of the many intelligent features offered on LG’s platform, AI Concierge employs voice recognition, search history and user data to provide customized app and viewing recommendations. Thanks to its ability to recognize different voices, AI webOS can take each LG smart TV user straight to their own personalized Home Screen without having to manually select their profile.
“Our webOS platform business continues to go from strength to strength based on close collaboration with our valued partners and an unrelenting focus on meeting the diverse needs of our customers,” said Park Hyoung-sei, president of the LG Home Entertainment Company. “Celebrating a decade of webOS innovation, and now enriching customer’s everyday lives with AI webOS, LG is accelerating its transformation into a leading media and entertainment platform company.”
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