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By News Reporter
Eun Seok-Hyun Honored in Leader Category for His Contributions to the Mobility
Sector and the Advancement of LG’s SDV Technologies
LAS VEGAS, Jan. 9, 2025 — LG Electronics (LG) is proud to announce that Eun Seok-hyun, president of the LG Vehicle Solution (VS) Company, has been recognized with the 2025 MotorTrend Software-Defined Vehicle (SDV) Innovator Award in the Leader category. The award acknowledges his exceptional leadership and contributions to software-driven innovation in the automotive sector. Hosted by MotorTrend, a highly-respected U.S.-based automotive media company, the SDV Innovator Award ceremony was held on January 7 during CES in Las Vegas.
Eun Seok-hyun’s well-deserved recognition underscores LG’s growing influence in shaping the future of mobility and SDV technologies. Mr. Eun, who has more than two decades of experience working in the automotive industry, has been at the helm of the LG VS Company since December 2022. Throughout his career, he has focused on driving innovation in key areas such as infotainment, display, telematics and automotive vision systems.
A prime example of the Company’s progress under Mr. Eun’s leadership is the launch of LG AlphaWare in 2024. This groundbreaking suite of software solutions empowers mobility providers to overcome technical challenges and reimagine vehicles as “living spaces on wheels.” LG AlphaWare comprises five core solutions that seamlessly work together to enhance the in-vehicle experience. PlayWare delivers immersive in-cabin entertainment; MetaWare integrates augmented and mixed reality technologies; VisionWare provides AI-powered driver assistance; BaseWare serves as a comprehensive software backbone, offering versatile modules to enhance existing operating systems or support new platform development for OEMs; and OpsWare is a central operations platform that fosters collaboration among software developers.
LG has also achieved significant milestones in automotive security. Under Mr. Eun’s guidance, LG became the first company to obtain Common Criteria certification for V2X security stability, reinforcing its leadership in connected vehicle safety.
“It is an honor to be recognized at this year’s MotorTrend SDV Innovator Awards,” said Eun Seok-hyun. “This accolade is a testament to LG’s advancements in SDV technologies and to the dedication of our team in shaping the future of mobility.”
LG’s latest mobility solutions will be on show at CES 2025 in Las Vegas (January 7-10) in the company’s public and private booths.
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By News Reporter
Company Strengthens Long-term Strategy With Agile
Adaptability in Rapidly Changing Business Environments
LAS VEGAS, Jan. 8, 2025 — LG Electronics’ (LG) CEO William Cho and key company executives outlined the company’s 2025 business strategy during a press conference held today for Korean media in Las Vegas, Nevada, U.S.A. The CEO emphasized the need to build structural competitiveness and accelerate qualitative growth by refining execution strategies adapted to rapidly changing global market environments.
Cho highlighted positive progress achieved through innovative business models, such as subscription service business and webOS-based advertising and content business, which demonstrate LG’s agile responsiveness to evolving market demands. “Amidst unprecedented market uncertainties and a shifting competitive landscape, we require a fundamentally different level of strategies and precise execution,” he stressed.
Compared to two years ago when LG first presented its Future Vision 2030, the global market recovery is experiencing prolonged delays, while geopolitical risks, such as shifts in trade policies in major nations, are becoming more pronounced. The competitive paradigm with Chinese companies is also shifting from price-based competition to a more sophisticated focus on technology.
As a part of the Future Vision 2030, LG aims to expand its existing device-centric business into mobility and commercial spaces. By leveraging decades of customer understanding, know-how and technological expertise, the company seeks to transform into a smart life solutions provider that connects and enhances customer experiences.
“Despite the challenging environment, significant opportunities remain,” Cho added. “By focusing on delivering differentiated customer value, we will create continuous growth.”
Shifting Business Paradigms to Meet Market Demands
LG is increasing its market presence through new business models like subscription based-services and the online brand shop. Capitalizing on the company’s strengths, the subscription business combines devices and services to provide greater convenience and flexibility, moving beyond price-driven competition. Customers can use products for a duration that best suits their needs and receive optimized care services, allowing LG to maintain closer customer relationships and generate recurring revenue.
LG is also strengthening its competitive edge by enhancing on-site care services and diversifying sales channels. This year, the company is expanding the service to India, Singapore and Hong Kong, following successful launches in Malaysia, Thailand and Taiwan.
In 2024, LG’s revenue from subscription services rose more than 75 percent year-over-year (YoY), surpassing the company’s original target (KRW 1.8 trillion) to reach a total nearing KRW 2 trillion. LG aims to more than triple this figure by 2030, establishing its subscription services as a key driver of growth.
The company’s data-driven online brand shop is also growing at a rapid pace, with sales surging over 80 percent YoY during last November’s Black Friday period.
Expanding Platform-based Services Business Through webOS
The platform-based service business, which is contributing to the transformation of the company’s business structure into a high-profit model, aims to increase its revenue by more than five times by 2030 – ultimately accounting for 20 percent of LG’s total operating profit. This business model leverages hundreds of millions of LG products sold worldwide as a platform to generate revenue by providing customers with content, tailored advertising and services.
A prime example of LG’s current success in this area is the advertising and content business based on the company’s webOS smart TV operating system. Last year, the webOS-based advertising and content business exceeded its revenue target of KRW 1 trillion.
Starting this year, webOS will become a comprehensive content platform for various devices and solutions, including IT products and vehicle infotainment systems. It will also broaden its scope to encompass AI-powered Digital Out of Home (DOOH) solutions to advertisers, evolving into an “integrated media advertising platform” that delivers differentiated content experiences across diverse indoor and outdoor spaces.
To this end, LG initiated the integration of its display-based businesses – including TVs, signage, monitors and laptops – through an organizational realignment at the end of last year. The company is also exploring various opportunities to secure additional capabilities through mergers and acquisitions (M&A) and partnerships.
Accelerating Growth in B2B exemplified with HVAC
To accelerate growth in the B2B sector, the company is focusing on its heating, ventilation, and air conditioning (HVAC) business, which is projected to expand rapidly in the AI era. LG has established a dedicated business division, the LG Eco Solution (ES) Company, to take its existing HVAC business to new heights. The HVAC business, alongside LG’s automotive component and smart factory business, will play a significant role in driving the company’s B2B business to greater success.
LG HVAC boasts a comprehensive portfolio of high-efficiency, high-performance solutions employing the company’s industry-leading core technologies. Its state-of-the-art products range from residential air conditioners to commercial air conditioners for buildings, schools and public institutions; heating solutions designed to replace fossil fuel boilers; and advanced chiller technology, which are now being applied to optimize energy efficiency in data centers – a pivotal backbone of AI infrastructure. Additionally, in key markets, LG is hastening the establishment of a localized, end-to-end business structure that encompasses R&D, production, sales and maintenance, and has the ability to develop region-specific solutions.
By 2030, LG expects its B2B business to account for around 45 percent of all revenue generated by the company. B2B revenue made up approximately 27 percent of total revenue in 2021 – a figure that rose to 35 percent by the end of last year.
Taking on Bold R&D Initiatives to Tackle Future Megatrends
The company is also revamping its future technology R&D portfolio to align with key strategic directions: maximizing business potential, expanding platform-based service businesses, accelerating B2B businesses and rapidly commercializing new growth engines. Over 75 percent of LG’s advanced R&D efforts will focus on technologies for businesses aligned with the company’s mid- to long-term strategies, and on securing pivotal technologies in promising future fields.
LG will continue to concentrate on strengthening core technologies across eight core technologies: software, system on chip, AI, robotics, materials and parts, standards, next-generation computing and cloud/data. Specifically, the company will apply CEO Cho’s “3B” strategy – Build, Borrow and Buy – by fostering internal capabilities, leveraging external expertise and acquiring technologies. This approach includes forming partnerships with global tech giants as well as promising startups and academia in order to solidify technological leadership. Additionally, LG will further bolster its R&D efforts in high-potential future fields, such as quantum computing and space technology.
CEO-led Task Force System to Enhance Structural Competitiveness
In addition to transforming its business portfolio, LG is focusing on strengthening its structural competitiveness – represented by Quality, Cost and Delivery – to address intensifying global competition.
This year, LG is establishing a new CEO-led review system to drive these efforts. Each business division and headquarters organization will set up a task force to secure leadership in products and technology, manufacturing efficiency, R&D and operations, with CEO Cho personally overseeing their progress. Key objectives for each task force include securing product and technology innovations, enhancing manufacturing capabilities and improving R&D capabilities.
LG is also carrying out meticulous preparations to improve its ability to respond strategically to external uncertainties. Working with internal and external experts, the company is crafting predictive scenarios for key issues and developing a “playbook” to identify optimal responses. This forward-looking approach is expected to minimize the impact of outside factors on the business and uncover new opportunities.
Sustained Investment in Future Growth
While it anticipates that the business environment will continue to face considerable uncertainties in the years ahead, LG is committed to maintaining its strategic investments. Aimed at securing fundamental business competitiveness and sustaining future growth, these investments will be ‘maximized’ based on strategic priorities.
In addition to investing in facilities and R&D, LG is actively exploring the strategic allocation of investment resources for equity investments and M&As to further accelerate the company’s growth. Previously, LG announced its plan to inject over KRW 50 trillion by 2030 to drive portfolio transformation and qualitative growth.
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By News Reporter
Since CEO William Cho
link hidden, please login to view of becoming a ‘Smart Life Solutions’ company, LG has made significant changes to various parts of its business and expanded new areas. To celebrate one year since this bold move, the company has launched an advertising campaign showcasing the remarkable progress it has made so far.
Titled ‘Connecting Spaces and Future,’ the campaign highlights this vision and demonstrates a strong dedication to innovation, aiming to strengthen its reputation as a leading innovator across various sectors. The campaign features videos showcasing LG’s ongoing transformation into a ‘Smart Life Solutions’ company through an ever-evolving product portfolio. Starting July 27, three videos will be released focusing on its mobility solutions, air solutions and more.
This marks the first LG video campaign to focus on the company as a whole since ‘Digitally Yours’ in 2000. The new video content seeks to underscore LG’s mobility solutions and the unique experiences they offer, as well as AI smart home solutions that provide personalized environments, webOS solutions that connect various devices on a single platform, and the core technologies including HVAC solutions that will drive future industries.
The mobility solutions video illustrates LG’s efforts to expand home experiences onto the road and deliver unique customer experiences based on three main themes: Transformable, Explorable and Relaxable. It also features the company’s emerging electric vehicle (EV) charging business. The video on its air solutions highlights excellent HVAC technology, including chillers and heat pumps, and a commitment to innovating global solutions that enhance customers’ lives in every space, from residential to commercial.
This event is in line with LG’s desire to showcase its innovative efforts beyond the home appliance space. By highlighting other categories and sectors it pioneers, LG aims to resonate with younger audiences and establish a youthful, dynamic brand image.
On the first anniversary of the announcement of its ‘Smart Life Solutions’ transformation, LG is expanding its achievements across three new pillars of growth: accelerating B2B (including vehicle components and HVAC), pursuing platform-based services (subscriptions, webOS-based advertising and content, etc.) and exploring new business areas such as EV charging.
Notably, after surpassing KRW 10 trillion in sales last year, LG’s vehicle components business carried on in the same form this year by achieving a record-high performance in the second quarter. The company’s commercial HVAC business, which is also growing rapidly, is further diversifying its business portfolio. LG is continuously leveraging its globally competitive HVAC solutions across the entire value chain, from products, technology, production and services, while actively targeting backend industries supporting AI infrastructure, such as data centers.
Starting this year, LG launched its , integrating AI and digital transformation with the company’s manufacturing and production data. This business undertakes production consulting, develops production methods, equipment and operation systems, and trains production technology personnel. Furthermore, the company expects to secure orders worth approximately KRW 300 billion in supplying smart factory solutions to business clients. Meanwhile, the company is actively expanding its webOS-based advertising and content business from TVs to automotive infotainment, with sales set to exceed KRW 1 trillion this year.
LG is accelerating its shift from a traditional product-centric business model to a recurring model that continuously generates revenue through intangible, non-hardware businesses such as subscriptions, content and services.
Stay tuned to to discover LG’s vision in greater detail and get the latest updates on the company’s ongoing transformation into a Smart Life Solutions company.
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By News Reporter
Advanced Training Programs and Customer Engagement Are Driving
LG’s Expansion and Strong Performance in the Global HVAC Market
SEOUL, June 13, 2024 — LG Electronics’ (LG) Heating, Ventilation and Air Conditioning (HVAC) Academy is reinforcing the company’s human resources infrastructure by training over 30,000 HVAC professionals annually. Building a network of skilled installation and service engineers, the academy is playing an important role in supporting the company’s global B2B expansion strategy.
Operating in 62 locations worldwide, the LG HVAC Academy provides comprehensive training on installing and maintaining LG’s residential and commercial HVAC systems, including its high-efficiency chillers. The academy enhances the skill-and knowledge-base of local technicians, equipping them with the ability to ensure the optimal set-up and performance of the company’s advanced HVAC solutions – which is crucial in delivering the differentiated customer experiences LG is known for.
The LG HVAC Academy estimates it will provide training to approximately 37,000 individuals this year. Each branch of the academy features integrated showrooms and training rooms where attendees can gain hands-on experience with the company’s B2C and B2B products. Along with product installation and maintenance training, LG’s academy introduces the company’s new HVAC solutions and offers specialized regional training programs, technical forums and customized on-site classes at clients’ offices.
Last April, the LG HVAC Academy hosted the five-day ‘Train The Trainer (TTT)’ program at LG headquarters in Seoul, South Korea. The program was designed to further HVAC trainers’ capabilities, giving them the tools to adapt to changes in customer engagement, as well as the valuable opportunity to exchange ideas and experiences with their peers from different regions and subsidiaries.
LG is also expanding its region-specific programs with events such as last month’s LG HVAC Consultant Leaders’ Summit (Seoul) for technical consultants from across Asia. Furthermore, the company is continuously adding to its existing HVAC Academy infrastructure, and is set to open a new branch in Lyon (France) by the end of this year. Notable recent additions to the network include sites in Boston (USA), Taipei (Taiwan), Chennai (India) and Kolkata (India).
With the rise of AI, there is a growing need for high-efficiency, high-performance cooling systems, especially in data centers and semiconductor plants where effective heat management is essential for maintaining server efficiency. LG is targeting continuing growth in the global HVAC market – which had an estimated value of approximately USD 58.4 billion in 2023* – with its high-efficiency heat pump HVAC systems, which have been designed with the latest electrification and environmental trends in mind. Moreover, the company aims to more than double the revenue generated by its residential and commercial HVAC business by 2030 and reinforce its position as a worldwide leader in air conditioning.
“The LG HVAC Academy plays a key role in enhancing the capabilities of engineers in each region,” said James Lee, head of the Air Solution Business Unit at LG Electronics Home Appliance & Air Solution Company. “We will continue to increase customer engagement to deliver more value and drive our global HVAC business forward.”
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*According to market research company IBIS World, the estimated value of the global HVAC market as of 2023 was approximately USD 58.4 billion.
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By DeBC
Anyone looking at getting a LG TV I would recommend look to different company. LG do not provide any good webOS TV support
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