Promoting Busan’s Bid to Host World Expo 2030 With Artistic Appeal of Opera
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By News Reporter
Strategic Restructuring to Enhance Synergy and Drive Growth in Key Business Areas
SEOUL, Nov. 21, 2024 — LG Electronics (LG) today announced a series of organizational changes and executive appointments following the approval of its board of directors. This restructuring aims to accelerate the company’s mid- to long-term strategy, “Future Vision 2030,” by enhancing inter-organizational synergy and innovating its business portfolio.
The restructuring focuses on regrouping LG’s business operation units* to maximize the potential of existing businesses, strengthen platform-based service operations, accelerate B2B initiatives and secure new growth engines in promising sectors. These changes are designed to enhance efficiency through the strategic selection and concentration of capabilities, thereby creating greater synergy between businesses and bolstering future competitiveness.
To spearhead this transformation, LG has appointed skilled individuals with exceptional expertise, emphasizing the enhancement of the company’s long-term competitiveness through the development of high-performing organizations.
Key Changes in Business Structure
A new Company will be established to bolster the growth of the heating, ventilation and air conditioning (HVAC) business, a crucial component of LG’s B2B acceleration strategy. The Overseas Sales & Marketing Company will now function as the overseas B2B control tower. Additionally, display-based operations – including TVs, monitors and signage – will be integrated to foster synergies and expand platform-based service businesses. New growth engines will be strategically relocated to Companies with greater business relevance, ensuring more stable support and creating synergies across business areas.
All four Companies will now incorporate “Solution” in their names, reflecting LG’s evolution into a Smart Life Solution provider that connects and enhances customer experiences across various environments, including homes, commercial spaces, mobility and virtual platforms.
Restructuring of Companies
LG has restructured its four Companies into the Home Appliance Solution (HS) Company, the Media Entertainment Solution (MS) Company, the Vehicle Solution (VS) Company and the Eco Solution (ES) Company. This reorganization redefines their roles and identities within LG.
The H&A Company will be renamed HS Company to align with its vision of “Zero Labor Home, Makes Quality Time.” To support this vision, LG will move the Platform Business Center – responsible for the planning, development and operation of LG ThinQ – directly under HS Company. This strategic realignment aims to establish HS Company as a leader in AI solutions across diverse spaces, including homes, commercial areas and vehicles, effectively addressing customer needs outside traditional home settings. Furthermore, HS Company will incorporate the Robot Business Division from the BS Company to integrate core robot technologies into its home robot solutions. Lyu Jae-cheol will continue to lead HS Company.
The HE Company will change its name to MS Company to align with its goal of becoming a media and entertainment platform powerhouse. It will integrate the Information Display business and Information Technology business from the BS Company with its TV business to create synergies in hardware and platform operations. Park Hyoung-sei will continue to lead the MS Company, driving its transformation into a media and entertainment platform.
The MS Company will accelerate the expansion of platform-based service business areas by broadening the application of webOS, which was primarily used in smart TVs, to monitors, signage and in-vehicle infotainment systems. webOS will evolve into an integrated content and services platform for both indoor and outdoor use, enhancing competitiveness through synergy and improved business structure.
The VS Company will clarify its role by changing its name from Vehicle component Solutions Company to Vehicle Solution Company, emphasizing its commitment to providing innovative solutions across the entire automotive ecosystem. Eun Seok-hyun will continue to lead the company.
The ES Company has been newly established. The HVAC business, previously part of the H&A Company and a significant contributor to LG’s B2B growth, will now operate as a standalone entity under the ES Company. Lee Jae-sung, the current head of the Air Solution Business Division, will lead the ES Company, ensuring continuity in the HVAC business and maintaining its strategic direction.
Given the project-based nature of the HVAC business and the specific characteristics of the market and its customers, LG has determined that operating it as an independent Company will maximize future competitiveness and growth potential. With the establishment of the ES Company, LG aims to position itself as a global leader in comprehensive air solutions.
Additionally, the ES Company will assume responsibility for the electric vehicle charging business from the BS Company and play a pivotal role in driving B2B growth within the clean tech sector, one of LG’s key future growth engines.
Meanwhile, to enhance the competitiveness of overseas B2B operations, LG will establish the B2B Business Capability Enhancement Division under the Overseas Sales & Marketing Company.
The Chief Strategy Office (CSO), acting as LG’s future strategy control tower, will also oversee AI acceleration and respond to global AI developments. The Chief Digital Office, previously responsible for digital transformation, will be reorganized into the DX Center and transferred directly under the CSO. The DX Center will focus on driving business performance through generative AI technologies and will be led by Cho Jung-bum.
The executive appointments emphasize the selection of diverse talents with proven expertise in sales, services and R&D. Jung Pil-won, currently leading the TV Overseas Sales & Marketing Group, has been appointed as the MEA Region Representative, recognizing his extensive experience in overseas sales management and his deep understanding of the Middle Eastern and African markets. Additionally, Kim Jung-ho, Kim Yoo-seon and Choi Jung-won, who head the subsidiaries in Saudi Arabia, Poland and Malaysia respectively, have been promoted to executive positions in acknowledgment of their significant contributions to business growth.
All appointments are effective December 1, with promotions taking effect on January 1.
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* LG’s major business operation units are called “Companies.”
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By News Reporter
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
link hidden, please login to view 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 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:
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 .
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By News Reporter
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
link hidden, please login to view and, last year, 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 for more.
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By News Reporter
LG Electronics CEO William Cho, in an exclusive interview with Bloomberg, discussed the company’s business strategy, growth areas, and the competitiveness of LG’s AI. Cho highlighted the focus on expanding B2B, subscription services, and its webOS-based advertising and content business to drive growth.
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By News Reporter
A Trusted Supplier of Vehicle Solutions, Company Earns
Security Certification for Its Transceiver Module for Volkswagen
SEOUL, Aug. 26, 2024 — LG Electronics’ (LG) Vehicle to Everything (V2X) solution for Volkswagen has received the world’s first Common Criteria (CC) certification for security stability in the V2X device category. The certification reinforces LG’s leading position in the global automotive components market and highlights its advanced capabilities in vehicle cybersecurity, an area that continues to grow in importance in the connected car era.
The recipient of the new CC certification, LG’s VW Transceiver Module, is a telematics component designed exclusively for Volkswagen’s internal combustion engine-specific MQB platform. An internationally recognized standard for IT product security, CC certification indicates that a device provides comprehensive protection against unauthorized access or interference. The module has also met the stringent security standards set by Spain’s National Cryptologic Centre (CCN), earning an Evaluation Assurance Level (EAL) 2+ rating.
V2X technology allows vehicles to communicate with systems, devices and technologies in the surrounding area, including other vehicles (V2V), traffic infrastructure (V2I) and, via smartphones, pedestrians (V2P). Without robust security, V2X devices and networks could be compromised by hackers, potentially leading to traffic congestion, accidents or data breaches. LG is proactive in addressing V2X security threats, ensuring that its advanced telematics components comply with Europe’s increasingly strict security regulations, thereby providing peace of mind to drivers and passengers.
LG is committed to meeting the highest standards for vehicle security, and will continue to provide competitive auto solutions that prioritize safety and reliability. After earning CC certification for its transceiver module for Volkswagen’s MQB platform, LG plans to achieve the same for its V2X solution intended for Volkswagen’s MEB electric vehicle platform within the year.
In addition to obtaining security certifications for its V2X solutions, LG is enhancing security across all areas of its automotive electronics business. In 2022, LG Vehicle component Solutions (VS) Company received the Trusted Information Security Assessment Exchange (TISAX) certification and, last February, gained Cyber Security Management System (CSMS) certification from TÜV Rheinland.
“By earning CC certification for the security of our V2X solution for Volkswagen, we have effectively demonstrated our superior component technology and security capabilities, both of which are key elements for success in the future mobility sector,” said Eun Seok-hyun, president of LG Vehicle component Solutions Company. “LG will continue to solidify its position in the global automotive parts market, delivering innovative, secure solutions that ensure safer roads for all.”
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