LG Presents ESG Vision for a Better Life for All at CES 2023
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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
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
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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”.
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By News Reporter
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
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* 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)
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By News Reporter
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
link hidden, please login to view 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
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