LG ULTRAGEAR EXPANDS GLOBAL ESPORTS PRESENCE WITH GEN.G
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By News Reporter
Partnership to Enhance Company’s High-performance Heat Pump Solutions for Cold Climates,
Lay Groundwork for the Development of Next-generation Technologies
SEOUL, Sep. 3, 2024 — LG Electronics (LG) is completing its global R&D triangle with the establishment of the Chinese Consortium for Advanced Heat Pump Research (CCAHR) in Harbin. The consortium, which joins existing LG-led initiatives in North America and Europe, will develop next-generation core technologies for heating, ventilation and air conditioning (HVAC) solutions capable of providing strong, dependable performance in extreme cold conditions.
To mark the official launch of CCAHR, LG held a signing ceremony on August 31 (local time) at Harbin Institute of Technology in Harbin, China. Prominent members of the consortium include the Harbin Institute of Technology (HIT), Shanghai Jiao Tong University (SJTU) and Xi’an Jiao Tong University (XJTU), all of which are actively researching HVAC technologies and systems designed for cold climates. The consortium will operate new research facilities in Harbin and Mohe City to develop strong and reliable HVAC solutions, helping LG to deliver products customized to local needs, and strengthen its presence in the Chinese market.
Harbin, known for its harsh winter conditions, and Mohe, where temperatures can drop to below minus 50 degrees Celsius, provide ideal settings for advancing LG’s research into heat pump technologies that can maintain high efficiency in severely cold climates. CCHAR will conduct tests on the company’s HVAC solutions, including residential air conditioners, at two facilities: a university-owned building at the Harbin Institute of Technology campus, and a residential site in Mohe. The consortium will gather comprehensive operational data to improve the heating performance, energy efficiency and overall reliability of LG’s HVAC products.
CCAHR is a significant addition to LG’s growing international program of heat pump R&D collaboration, complementing LG-led consortiums established in Korea and the U.S. last November, and in Europe this June. With its trio of consortiums, LG has built a robust R&D infrastructure spanning North America, Europe and Asia, and will be able to develop technologies suited to the unique demands of each region’s climatic and housing conditions. The R&D triangle will play a major role in further solidifying the company’s global leadership in HVAC technology.
Moreover, during a recent CEO-led
link hidden, please login to view, LG outlined four key strategies for business portfolio innovation, including the acceleration of its B2B capabilities – particularly in the area of HVAC. By leveraging its advanced inverter, heat pump and chiller technologies, LG aims to lead the market in high-efficiency HVAC solutions, while actively targeting the growing demand for cooling systems, especially in AI data centers. Additionally, in key markets, LG’s HVAC business is establishing a locally self-sufficient operation system encompassing the in-house production of core components and the creation of production bases optimized for regional supply. This system, which covers everything from R&D to sales and maintenance, greatly enhances LG’s B2B capabilities and is expected to support meaningful long-term growth.
“We are committed to developing next-generation heat pump technologies tailored to diverse climates,” said James Lee, head of the Air Solution Business Unit at LG Electronics Home Appliance & Air Solution Company. “Through our R&D initiatives, we will strengthen our ability to provide differentiated solutions for each region, and reinforce our product and technology leadership in the global HVAC market.”
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By News Reporter
In a strategic move to bolster its presence in Indonesia, LG is accelerating the capabilities of its Research and Development (R&D) Center in the country by investing in its most valuable asset – its people.
Last year,
link hidden, please login to view officially opened its world-class R&D facility, aiming to elevate the company’s operational capabilities and further its mission of delivering quality products to more consumers worldwide. The 40,000-square-meter R&D center in Cibitung is set to become a pivotal hub for LG’s expansion into new global markets. This facility allows LG to implement a one-stop operation in Indonesia, integrating its supply chain processes into a seamless workflow that encompasses development, production, sales, marketing and customer service. This makes LG Indonesia the first LG subsidiary in the world capable of performing these roles simultaneously.
“Our R&D Center in the heart of Indonesia reinforces our unwavering dedication to serving Indonesia with the highest quality products, bringing up highly competitive manpower with creating jobs, transferring knowledge and making innovations,” said Lee So-yeoun, president of the LG R&D Center in Indonesia. “We anticipate our Indonesia R&D Center to continue positively impacting not only the company but also Indonesia’s broader society.”
This state-of-the-art facility will not only serve as a testing ground for LG’s latest innovations but also support the development of new TVs for the global market.
The center conducts rigorous tests on products to assess their resistance to moisture, heat and vibration as well as the packaging’s ability to protect items from significant drops. These tests are carried out to verify the durability of LG TVs throughout the product life cycle, from shipment to actual use.
Beyond technological development, LG Indonesia seeks to empower local human resources through the new facility. As part of this initiative, LG Indonesia sent 100 local workers to South Korea for a training program to equip them with the necessary knowledge and skills. A highly competent local team leads the facility’s technical and development quality assurance departments, and LG has employed approximately 400 people to run it, with plans to recruit more over the coming years.
To further improve its human resources, LG’s Indonesia R&D Center is exploring scholarship programs, internships, project sponsorships and partnerships with prominent local educational institutions. This initiative aims to strengthen the industry-academia relationship while creating broader opportunities for Indonesia’s talented youth. This will almost certainly foster greater innovation, leading to new products designed for the global market.
The Indonesia R&D Center’s high operational standards have earned it three ISO certifications for SHEE (Safety, Health, Environment and Energy): ISO 14001 (Environmental Management), ISO 45001 (Occupational Health and Safety) and ISO 50001 (Energy Management), emphasizing its dedication to safe, eco-friendly operations.
With the implementation of an advanced Building Management System (BMS), LG’s Indonesia R&D Center ensures environmental sustainability and energy efficiency by monitoring and controlling the air conditioning, ventilation, water systems, fire alarms and power.
Beyond enhancing operational efficiency, the R&D Center aims to help the company comply with national standards by adapting its products to better serve the local market, such as acquiring the Indonesian National Standard (SNI) certification. Among its most valuable contributions so far, the facility helped develop the LG OLED G4, the latest OLED TV which uses 60 percent less plastic than conventional televisions and recently received the Eco-friendly Certification for the fourth consecutive year.
Looking ahead, LG’s Indonesia R&D Center will continue to promote sustainability through key ESG initiatives organized under the “LG LOVES Indonesia” program. With a focus on the environment, education, community welfare and child development, the company has already initiated several projects in Indonesia, including “LG Loves Green,” “LG Loves School,” “LG Loves and Cares” and “LG Loves Children.”
Keep an eye on the to see how else the company is putting its Life’s Good motto into action while striving to make meaningful contributions to local communities.
Contributed by LG Indonesia
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By News Reporter
Company’s Premium Gaming Monitors Deliver the Image Quality and
Responsiveness That Professional Gamers Demand
SEOUL, Aug. 21, 2024 — LG Electronics (LG) is set to showcase its industry-leading UltraGear gaming monitors at two of Europe’s biggest gaming events this summer: Gamescom 2024 and the League of Legends EMEA Championship (LEC 2024). The company will also be hosting LG Gaming Weeks, a promotional event offering customers in several European countries special discounts on LG UltraGear gaming monitors, and the chance to receive exclusive gifts.
Gamescom 2024
LG UltraGear will be operating a brand experience booth at Gamescom 2024, Europe’s largest video game tradeshow, taking place in Cologne, Germany, from August 21 to 25. Attracting around 370,000 participants annually, Gamescom is one of the most significant events on the gaming industry calendar, with game developers and hardware manufacturers from around the world unveil their latest offerings.
Visitors to LG UltraGear’s booth will have the opportunity to experience the unmatched immersion delivered by the brand’s stunning OLED gaming monitors. Available in screen sizes of 45-, 39-, 34-, 32- and 27-inches, LG UltraGear OLED gaming monitors feature cutting edge Micro Lens Array Plus (MLA+) technology, are VESA DisplayHDR True Black 400-certified, and boast a peak brightness of 1300 nits. Notably, the 32-inch LG UltraGear OLED gaming monitor (model 32GS95UE) is the world’s first VESA-certified dual-mode display, allowing users to switch seamlessly between 4K UHD 240Hz and FHD 480Hz.
LEC 2024
LG UltraGear gaming monitors have also been named the Official Gaming Monitor for the LEC 2024 summer season. At the tournament’s fiercely-contested final rounds in Munich, Germany (August 31 to September 1), the top-ranked teams will be playing for victory using LG UltraGear gaming monitors.
Throughout the LEC 2024 finals, LG’s UltraGear gaming monitors will be on show at a pop-up operated by Riot Games, the developer of League of Legends. Located on Odeonsplatz, in the heart of downtown Munich, the pop-up will give visitors the chance to play some of Riot Games’ latest titles on LG’s premium gaming displays. These include the stellar 27-inch LG UltraGear OLED gaming monitor (model 27GS95QE), which provides smooth, responsive gameplay with its 240Hz refresh rate and 0.03ms Gray-to-Gray response time. Gaming fans and curious passersby can drop by the pop-up to see first-hand why LG UltraGear is the preferred choice of many of the world’s top gamers.
LG Gaming Weeks
Starting in the third week of August, LG Gaming Weeks will present exclusive deals and gifts along with special discounts on UltraGear products that will have gamers from across Europe heading to LG.com. For more information on LG Gaming Weeks, including activity schedules and participating countries, visit link hidden, please login to view.
“We look forward to connecting with Europe’s gaming community through special encounters at these large-scale offline activities of Gamescom 2024 and LEC 2024, as well as LG Gaming Weeks,” said YS Lee, vice president and head of the IT business unit of LG Business Solutions Company. “Through both online and offline events, the LG UltraGear brand will continue to raise its profile by showcasing its impressive OLED gaming monitors at major gaming industry events, and by supporting premier esports tournaments with the best ‘Gear’ around.”
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By News Reporter
LG 1 Extends its Reach to Wider Audience With
Premium Free Content and Launch of Rerun Channel in Europe
SEOUL, Aug. 14, 2024 — LG Electronics (LG) is set to expand availability of LG 1, the company’s free ad-supported owned and operated channel, to reach a broader audience across Europe. Following a successful launch in the UK and Germany in May, LG 1 will be available later this year in France, Spain and Italy via LG Channels, the company’s exclusive free streaming service. Thanks to notable content partnerships including Lionsgate, Filmrise, NBCUniversal and Fremantle, LG has curated owned-and-operated channels to deliver a wide range of popular and premium content, demonstrating the company’s commitment to elevating the viewing experience for users in European markets.
Since its launch in the UK and Germany, LG 1 has rapidly climbed the LG Channels rankings to claim one of the top spots in viewing hours. The channel leads the way with titles such as the exclusive first-window premieres of Paul T. Goldman and Wong & Winchester as well as hit shows Nashville, Boss, Graves, The Royals, Houdini, The Girlfriend Experience, Sliders, Quantum Leap, Twelve Monkeys, New York Undercover, Mutant X, Relic Hunter, Andromeda and Anna Pihl.*
Following the success of the recent launch, LG is ensuring that LG viewers don’t miss a thing with the launch of the LG 1 time shifted channel, now live in the UK and Germany, enabling viewers to watch the channel one hour after the original broadcast.
LG is also building on the momentum of LG 1 in the UK and Germany by extending the flagship owned-and-operated channel to other regions in Europe, including France, Spain and Italy. The channel will greatly enhance the quality of viewing in these regions with a broader selection of premium content.
What’s more, LG Channels has introduced a dedicated Kids & Family tab in the UK, Germany, France, Italy and Spain, allowing families to easily explore channels specifically tailored to children, including Beano TV, Narrative and Wildbrain.*
In addition to expanded content in Europe, LG recently launched a curated premium owned-and-operated channel in the US called LG Channels Showcase, which is powered by partnerships with a wide range of film studios such as Amazon MGM Studios, Lionsgate and Sony Pictures Entertainment.
LG Channels Showcase also boasts original content such as award-winning series LG Presents: The Rivalries, The Taste of Tennessee and the recently announced Estate of Survival, the company’s first reality competition series, which will be available on LG Channels in more than nine countries, including the U.S., Canada, Australia, Korea and markets in Latin America.
The series now also streams on LG Channels Showcase, with two episodes to be released back-to-back weekly.
LG is dedicated to elevating the viewing experience for users around the world, expanding investment in partnerships and UI enhancements to deliver a more intuitive and personalized experience that aligns with viewers’ interests.
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* Titles vary by market.
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By News Reporter
Company Joins SBVA’s AI Fund and Continues Efforts to
Nurture Future Businesses Through Open Innovation Activities
SEOUL, Aug. 19, 2024 — LG Electronics (LG) is making significant investments in startups specializing in artificial intelligence (AI) and deep tech. LG has committed USD 10 million as a key limited partner in the newly established USD 130 million “Alpha Intelligence Fund (AIF)” by
link hidden, please login to view. SBVA will curate a portfolio for AIF by selecting startups with high growth potential in AI, deep tech and robotics. The firm aims to leverage its global networks and resources to support the growth and meaningful achievements of these startups.
For over 20 years, SBVA has been investing in global startups, enhancing its expertise in ICT technology and strengthening its international network. By participating in the SBVA fund, LG plans to engage in the sharing of information on rapidly changing innovative technology trends and reflect these global market changes in its management strategies.
Through this investment, LG aims to expand cooperation with innovative startups and continue efforts to secure future technologies, ultimately seeking qualitative growth. The company plans to strengthen its networking with leading global companies and startups, discover additional opportunities for strategic investments and secure technological capabilities for future businesses.
LG intends to accelerate its transformation into a “Smart Life Solutions” company by securing innovative technologies for its key growth engines, including platform-based service businesses, B2B businesses and other new ventures. The company plans to continue efforts to secure future core technologies and expand its business areas beyond the home to business spaces, mobility and more.
Previously, in July, LG acquired an 80 percent stake in Athom, a smart home platform company headquartered in Enschede, Netherlands, and signed a contract to acquire the remaining 20 percent within the next three years. In March, LG invested USD 60 million in Bear Robotics – an AI-based autonomous service robot startup headquartered in Redwood City, Silicon Valley, USA – through a new stock acquisition agreement to acquire a stake in Bear Robotics.
In addition, through LG NOVA – the company’s Silicon Valley-based innovation center – LG has been conducting annual contests since 2021 to discover and nurture startups with innovative ideas and support their commercialization, thereby seeking new business opportunities. LG NOVA is particularly focused on building sustainable growth and nurturing systems for future innovative industries such as digital healthcare, clean tech and AI.
“By participating in the AIF, we aim to secure AI capabilities through active open innovation activities and strengthen our position within the AI value chain,” said Eugene Yoo, vice president and leader of the Open Innovation Task at LG. “We plan to discover and collaborate with capable startups to explore future business opportunities.”
“We will continue to make investments that accelerate technological innovation, leveraging our differentiated technical expertise, global network and investment experience. We plan to maximize the growth potential of these companies by supporting the establishment of joint ventures with startups and major investors, and by promoting collaborative business projects,” said SBVA CEO JP Lee.
Meanwhile, SBVA, established as SoftBank Ventures Asia under the SoftBank Group, was acquired last year by The Edgeof, an investment company led by Taizo Son, chairman of the global investment firm Mistletoe, and became independent. SBVA manages assets totaling approximately USD 2 billion AUM and has offices in San Francisco, Israel, Singapore and Seoul. It is investing in over 100 companies. SBVA plans to conduct a second closing within the year to increase the size of the AIF.
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