LG Channels Expands Owned-and-Operated Exclusive Movie and TV Channel

A picture of 'LG Channels Showcase' appears on a wall-mounted TV in a living room

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.

LG’s ‘Estate of Survival’ to Launch on Prime Video via Prime Video Direct and LG Channels

The poster of the LG original series Estate of Survival on Prime Video

New Reality Competition Series Introduces a Smarter Home Lifestyle With
LG Electronics, the Most Reliable Line of Home Appliances in the United States

SEOUL, Aug. 13, 2024 — LG Electronics (LG) is set to launch its episodic original series, Estate of Survival, on Prime Video via Prime Video Direct in nine countries, including the U.S., Canada, Argentina and Chile¹ as well as LG Channels.

This brand-new series, which features six exciting episodes, follows the residents of the Estate of Survival mansion as they compete against each other in a variety of challenging missions. By completing these missions, contestants earn home appliances and other items to furnish the spacious abode and, just as importantly, avoid elimination. The last resident standing wins the Estate of Survival ultimate prize: USD $100,000.

In Estate of Survival, contestants compete to acquire household goods, including LG ThinQ™-enabled appliances. LG’s appliances are designed to provide exceptional customer experiences and deliver the next-level convenience of the company’s smart lifestyle vision – the Zero Labor Home. Trusted by consumers worldwide, LG has been named the most reliable appliance brand in the U.S. by a leading consumer publication.²

“An engaging and highly-entertaining new reality competition show with a unique premise, Estate of Survival is the ideal platform for showcasing the latest lifestyle innovations from LG, America’s most reliable line of home appliances,” said Lyu Jae-cheol, president of LG Electronics Home Appliance & Air Solution Company.

The new series will introduce viewers to a wide range of sophisticated LG home appliances, including the InstaView™ refrigerator with LG’s exclusive Craft Ice™ (slow -melting, round ice), the wall oven and induction cooktop range featuring the Scan-to-Cook function, the Smart Top Control Dishwasher with 1-Hour Wash & Dry, QuadWash® Pro, TrueSteam® and Dynamic Heat Dry™, the CordZero™ stick vacuum and the PuriCare™ air purifier.

Once appliances are installed, contestants enjoy a multitude of time-saving benefits, from washing and drying a load of laundry in under two hours with the LG WashCombo™ All-in-One laundry solution, to faster cooking and clean up with LG ovens’ Scan-to-Cook and EasyClean™ features. Scan-to-Cook allows users to send the optimal cooking settings for select frozen meals straight to the oven simply by scanning the barcode on the product packaging.

Always seeking new ways to make the home appliance customer experience even better, LG developed ThinQ Care™, which provides helpful alerts to prevent incorrect appliance usage and smart diagnosis to reduce the need for costly and inconvenient service technician visits.

The first two episodes of Estate of Survival will arrive on Prime Video via Prime Video Direct in the U.S. on August 12 and in several other countries soon after. LG TV owners will be able to enjoy the series for free on-demand via LG Channels – the company’s free, premium streaming service – in more than 9 countries, including the U.S., Canada, Mexico and Australia.³

The series will also stream on LG Channels Showcase (Channel #999), LG’s first curated channel featuring fan-favorite movies and LG exclusives. Two episodes will premiere back-to-back weekly on Monday nights, starting Monday, August 12 at 8pm EST.

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¹ Estate of Survival is set to launch on Prime Video in the following countries: Argentina, Brazil, Canada, Chile, Ecuador, Mexico, Panama, Peru and the U.S.
²Consumer Reports evaluates the reliability of home appliances, including refrigerators, dishwashers, over-the-range microwaves, ranges, cooktops, wall ovens, washing machines and dryers, based on the failure rate of approximately 528,800 appliances over a five-year period. LG Electronics received the highest score among all manufacturers producing all eight products under evaluation, from 2012 to 2022 in “the most reliable appliances brand”.
³Estate of Survival will be available to watch on LG Channels in Argentina, Australia, Canada, Chile, Colombia, Republic of Korea, Mexico, Peru and the U.S.

Bridging the Cultures of Saudi Arabia and Korea Through the Transcendent Power of K-Pop

An image of three girls performing on stage

Imagine a world where every moment is savored and each experience deeply cherished. This life of fulfillment is no longer a distant dream but a reality, thanks to LG’s bold optimism and relentless drive to innovate. The company’s goal is to shape a future where it’s easy to appreciate the smaller things in life and where Life’s Good for everyone, no matter where they live.

In line with this dedication to creating a happier, more connected future for all, LG Saudi Arabia organized its first-ever K-POP World Festival on August 3 at JAX District’s Cultural and Art zone in Riyadh. To foster cultural unity and mutual respect, LG invited the nation’s biggest K-pop enthusiasts to promote a special and vibrant cultural exchange between Saudi Arabia and South Korea.

The warehouse was packed with excited fans, who created an incredibly energetic atmosphere as each act performed. The local fan base’s devotion to the world’s fastest-growing music genre was demonstrated by the hundreds of people outside who couldn’t get inside, decked out in traditional clothes like hijabs and abayas while singing and dancing to their favorite Korean songs. The festival was a perfect picture of how K-pop has found a special place in Saudi hearts, harmonizing with the local culture.

With 30 teams from across Saudi Arabia competing in the preliminaries, the best 10 progressed to the final. After a fiercely contested final showdown, the coveted title was awarded to the Saudi female trio dance group, Everlast, who captivated the audience with a dynamic performance and their undeniable talent. This victory qualifies Everlast for the K-pop festival finals which will be held in Changwon, South Korea, in October.

The winners each received a premium LG product, such as an XBOOM speaker, CineBeam Q projector, LG InstaView Refrigerator or LG OLED Posé TV. These high-end prizes, which reflect LG’s dedication to recognizing top talent and promoting technological innovation, were also showcased during the festival to let attendees interact with and experience the company’s latest offerings in person.

Under the partnership of the Korean Embassy in Saudi Arabia, the Ministry of Culture of Saudi Arabia, the Saudi Entertainment Academy (SEA) and LG, this vibrant celebration of two unique cultures underscored the strengthening cultural and diplomatic relations between the two nations.

For further updates on the company’s ongoing endeavors to foster distinctive cultural exchanges and support innovation across the world, stay tuned to LG Newsroom.

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Electrifying Your Home, Creating A Better World

An illustrated image of a house with visualizations of electricity flow

Home is where the heart is, and it’s also often the best place to start when you’re seeking to make a positive difference in the world. A prime example is the ‘home electrification’ trend, which, in a nutshell, helps drive sustainability by replacing fossil fuel-powered household appliances with cleaner and more efficient electricity-driven ones.

Home electrification includes the installation of electric appliances and heating and cooling systems, such as heat pumps, which transfer heat from one place to another by circulating refrigerant. Heat pumps provide the practical benefits of year-round indoor comfort and lower utility bills. When integrated with solar panels and battery storage systems, they take things a step further – empowering homeowners with energy independence and the ability to power their homes during outages.

According to a study published in the peer-reviewed scientific journal Joule, electrification could reduce greenhouse gas (GHG) emissions in the residential sector by 36 to 64 percent and cut overall GHG emissions in the U.S. by 5 to 9 percent.¹ To accelerate the transition to electrification, many governments are now offering incentives and subsidies, such as those included in the U.S. government’s Inflation Reduction Act, to encourage the adoption of energy-efficient home technologies.²

Electrifying your home with LG brings the compelling advantages of the company’s industry-leading core-tech and extensive lineup of sophisticated, energy-efficient products. LG’s innovative core components, including reliable, high-efficiency motors, ensure unparalleled performance and energy-savings across a variety of home appliances.

The company also provides the seamless connectivity and easy energy management with ThinQ™ Energy, compatible with a comprehensive range of LG appliances and HVAC systems. The LG Home Energy Platform, centering on the Energy Storage System (ESS), optimizes energy usage to prevent waste and emissions, and enables smart control of connected home appliances.

Many of LG’s products, which help reduce carbon emissions and enhance energy efficiency, are eligible for rebates. From ENERGY STAR^® certified induction cooktops to low energy-consumption, low-emissions HVAC systems, LG offers a diverse array of cutting-edge solutions that can drastically decrease household reliance on fossil fuels and boost efficiency at the same time. Among these are water heaters equipped with heat pumps, and innovative laundry solutions like the impressive WashCombo™ washer-dryer with Inverter HeatPump™.

Embracing home electrification is an investment in a cleaner, healthier future. With LG’s energy-efficient appliances and core technologies, you can transform your living space into an all-electric abode – shrinking your energy footprint, minimizing your environmental impact and making a positive difference in the world.

To learn more about LG’s solutions with energy efficiency for home electrification, stay tuned to LG Newsroom and White Paper on Home Electrification at LG HVAC Blog.

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¹ www.cell.com/joule/abstract/S2542-4351(24)00049-7
²www.energy.gov/scep/home-energy-rebates-programs

LG Unveils New Therma V™ R290 Monobloc Models With Advanced Compressor at IFA 2024

A picture of the LG Therma V™ R290 Monobloc 7 and 9 kilowatt(kW) air-to-water heat pump (AWHP) set up in a residential outdoor space

Company Expands the High-Efficiency Small-to-Medium Capacity Lineup to
Provide Stable Heating Performance to More European Households

SEOUL, Aug. 8, 2024 — LG Electronics (LG) is unveiling its all-new Therma V™ R290 Monobloc 7- and 9-kilowatt (kW) air-to-water heat pumps (AWHP) at IFA 2024 in Berlin, Germany, from September 6-10. Following the successful launch of the large capacity models (12, 14, 16kW) at last year’s IFA, the new Therma V models come with an advanced compressor that unlocks greater efficiency and a more sophisticated design that blends seamlessly into the surroundings.

With the mandatory implementation of Nearly-Zero Energy Buildings (NZEB) standards across Europe,¹ AWHPs are gaining popularity for their ability to reduce carbon emissions and handle energy supply uncertainties. For new constructions, medium- and small-capacity models are more suitable, making LG’s new 7- and 9 kW models ideal for the European market. Additionally, LG is establishing an Air Solution Research and Development (R&D) Lab in Frankfurt, Germany, to develop high-efficiency heating, ventilation and air conditioning (HVAC) solutions tailored to Europe’s diverse local climates.

Highly Efficient Operation
Proactively responding to tighter F-gas regulations² and Europe’s preference shifting from traditional boilers to AWHPs, LG has adopted the R290 refrigerant for its Therma V R290 Monobloc. This natural refrigerant boasts a Global Warming Potential (GWP) of 3, far lower than the refrigerants commonly used in heating solutions. With an energy rating of A+++,³ this advanced solution reduces carbon emissions by up to 79 percent compared to conventional boilers by sourcing its energy from heat in the air.⁴ Customers upgrading to the Therma V can expect to increase their household energy efficiency significantly.⁵

The latest Therma V AWHP leverages LG’s advanced compressor to unlock new levels of energy efficiency and performance in colder climates. The lower positioning of the compression process helps ensure a more stable operation and smaller energy bills, while the system enables a water output of up to 75 degrees Celsius, even when it is minus 15 degrees Celsius outside.

Courtesy of the all-new compressor, both AWHP models operate at a quiet 49 dB(A) at 7kW and 50 dB(A) at 9kW.^6,7 LG’s Shaft Through structure enhances stability and reduces friction, thereby minimizing noise and vibration, particularly during low-load operation. What’s more, the upgraded biomimetic innovations all contribute to the fan’s quiet operation.

A More Sophisticated Design
Therma V R290 Monobloc features a sleek one-fan design that effortlessly harmonizes with various home designs and building exteriors. The outer casing of LG’s latest AWHP solution uses a sophisticated black tone that complements any color, while the unit’s grille features a distinctive wave pattern and understated dark grey finish. Its compact design allows it to fit under most windows without obstructing the view, making it a practical, aesthetically pleasing addition to any property.

Smart and Simple Integration
LG’s new AWHPs are designed to seamlessly integrate with various indoor units through simplified installations, enhanced flexibility and customized options – control, hydro and combi units – that cater to different installation environments. The streamlined design guarantees a more efficient, hassle-free set up, while the company’s Building Energy Control (BECON) cloud lets the installer or service partner update its firmware remotely, saving time and effort.⁸ Additionally, the new models offer easy and convenient control and energy monitoring through LG’s ThinQ™, creating an integrated Home Energy Platform with Energy Storage System (ESS).

“LG’s latest Therma V R290 Monobloc offers Europeans a broader range of capacity options while delivering enhanced performance and user comfort,” said Lyu Jae-cheol, president of LG Electronics Home Appliance & Air Solution Company. “LG will continue leveraging its differentiated competitiveness in high-efficiency energy technologies and key component solutions to offer a product lineup tailored to regional needs.”

Attendees can visit LG’s booth (Hall 18, Messe Berlin) between September 6 and 10, where they can explore the company’s latest energy-efficient innovations for a better life.

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¹According to the European Commission, all new buildings in the EU are required to be ‘nearly-zero energy buildings’ since 2020 (energy.ec.europa.eu/topics/energy-efficiency/energy-efficient-buildings/nearly-zero-energy-and-zero-emission-buildings_en).
² The R290 refrigerant aligns with the revised F-gas regulations, which ban the use of HFC refrigerants with a GWP of 150 or more starting from 2027.
³ Seasonal space heating efficiency rating of A+++ at 35 degrees Celsius LWT and A+++ at 55 degrees Celsius LWT, in accordance with EN 14825 in the European Commission Regulation (EU).
⁴ This simulation result is based on conditions under average climate & Low temperature (35 degrees Celsius) and may differ from actual values since various assumptions have been used. Carbon emission rates are calculated for space heating only of LG THERMA V R290 Monobloc 9kW. Compared boiler is general condensing boiler irrelevant specific brand and Annual Energy Consumption is assumed to cover same annual heating demand with LG THERMA V R290 Monobloc 9 kW. Annual CO2 emission is simulated based on Annual Energy consumption and the Carbon intensity of the power sector in the EU in 2023 and 56.1 t-CO2/TJ is considered for calculation of CO2 emission of gas boiler.
⁵ The new Therma V Monobloc boasts a Seasonal Coefficient of Performance (SCOP) up to 5.2. based on conditions under average climate & low temperature (35 degrees Celsius). SCOP is based on EN14825 and actual efficiency may vary depending on specific installation and operating conditions.
⁶ A noise level of 49-50 dB(A) is generally considered quiet. For reference, a whisper is around 25 dB(A), a normal conversation is about 60 dB(A) and a household refrigerator typically operates at approximately 50 dB(A) (noiseawareness.org/info-center/common-noise-levels/).
⁷Actual noise levels may vary depending on the usage environment.
⁸ Products that form the Home Energy Platform, such as the Energy Storage System, solar panels and Building Energy Control (BECON) clouds, are sold separately. Product availability may differ by region.

LG to Introduce Its Vision for the ‘Next Chapter of the AI Home’ at IFA 2024

A picture about LG IFA 2024 taking place from September 6-10

With the Theme of ‘Experience, Affectionate Intelligence Home,’
LG’s IFA Exhibit to Highlight Company’s ‘AI Home’ Vision and AI-Powered Appliances

SEOUL, Aug. 7, 2024 — LG Electronics (LG) is inviting consumers from around the globe to Berlin, Germany, to experience its latest AI appliance innovations at IFA 2024, taking place from September 6-10. Under the theme Experience, Affectionate Intelligence Home, the company will present its comprehensive and inspiring vision for the next chapter of the AI home.

At LG’s large-scale booth, located in Hall 18 at Messe Berlin, visitors can experience the elevated quality of life made possible by the company’s diverse lineup of AI home solutions. In addition to introducing its newest offerings powered by Affectionate Intelligence, LG will demonstrate its considerable progress in realizing the AI home of the future and reaffirm its strong commitment to leading a new era of AI innovation.

Those unable to attend IFA in person can still learn all about LG’s AI home appliance showcase through the LG Booth video, which will be available on the LG Global YouTube channel (www.youtube.com/@LGGlobal) starting September 6.

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LG Attains Top 1% Status in S&P Global’s Sustainability Yearbook 2024

An picture describing that LG received the highest among 109 companies, earning it a place in the prestigious ‘Top 1%’

As a global corporate citizen, LG has long been committed to shaping a sustainable and equitable future for all. These efforts have not gone unnoticed, with S&P Global recently recognizing the company’s dedication to a greener future in this year’s Sustainability Yearbook.

Photo credit: S&P Global

The annual S&P Global’s Sustainability Yearbook is based on the S&P Global Corporate Sustainability Assessment (CSA) from the previous year, which comprehensively evaluates each company’s sustainability practices. The CSA has been comparing companies across 62 industries via industry-specific questionnaires for 25 years.

LG received high scores in this year’s assessment, particularly in the areas of environment and governance. In the environmental sector, LG achieved perfect scores in resource circularity, including energy, waste and water management, and scored major points for its systematic climate strategy. On July 18, LG attended the 2023 S&P Global Sustainability Awards Ceremony held in Seoul to accept the highly sought-after accolade in person.

In the ‘Leisure Equipment & Products and Consumer Electronics Industry category, LG received a score of 71 out of 100, the highest among 109 companies, earning it a place in the prestigious ‘Top 1%’. Out of the 9,400 companies across 62 industries evaluated, only 66 companies made the ‘Top 1%’, and only 6 of them are from South Korea.

Since announcing its target in 2019 to achieve net-zero carbon neutrality at the manufacturing stage by 2030, LG has been actively addressing the climate crisis. It became the first domestic appliance company to have its greenhouse gas reduction targets verified by the Science Based Targets initiative (SBTi). In the 2023-2024 Sustainability Report, LG disclosed its greenhouse gas emissions by calculating all 15 scope 3 emission categories. The company is also expanding its use of recycled plastics and developing paper cushioning materials for packaging, aligning with its efforts to accelerate plastic reduction initiatives.

Regarding corporate governance, LG’s corporate ethics, innovative management and transparent disclosures have been commended. To foster an environment where every employee worldwide can uphold its corporate ethics, LG has distributed its Code of Ethics and Code of Conduct in over 10 languages globally. This year, it introduced a unified Human Rights Principle to establish a consistent policy across borders, demonstrating the company’s respect for human rights and commitment to international standards. Moreover, following the designation of LG Smart Park in Changwon as a Lighthouse Factory by the World Economic Forum in 2022, the company’s Tennessee plant in the US achieved the same recognition last year, establishing a track record of successful innovative management practices.

To realize its Better Life For All vision, LG established six strategic tasks for ESG management last year, focusing on two key areas: the ‘3Cs’ for the planet (carbon neutrality, circularity and clean technology), and the ‘3Ds’ for the people (design for all, decent workplace and diversity & inclusion).

To address the ‘3Cs,’ LG has been working on its transition to renewable energy, expanding waste recycling, developing highly efficient products and utilizing more eco-friendly materials. The ‘3Ds’ focus on ensuring the highest standards of safety, health, labor rights and human rights across the entire supply chain, while promoting the recruitment and development of women and people with disabilities, all the while improving the accessibility of its products and services.

To honor its commitment to realizing a Better Life for All, LG remains steadfast in its dedication to creating value for society. Recognized globally for its outstanding achievements in ESG management, the company will continue to fulfill its responsibilities and roles in the economic, environmental and social sectors. Stay tuned to LG Newsroom and discover more ways LG is promoting sustainability worldwide.

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[Executive Corner] Strengthening the Software Supply Chain With SBOM

Approximately 70 percent of South Korean companies involved in software development use open-source software (OSS), according to the Korea National IT Industry Promotion Agency. OSS is easily accessible and can be utilized by users worldwide through online platforms like GitHub, enabling developers to create, develop, manage and share code. While OSS offers numerous benefits – from cost effectiveness to customizability and flexibility – it also presents significant drawbacks, including the prevalence of malicious code and security vulnerabilities that can spread rapidly.

The global use of OSS has increased, not only on the web and in various applications but also in software embedded in home appliances and telecommunications equipment. As its adoption has spread, new threats to digital products and online services have emerged and multiplied. Cybersecurity incidents now occur daily, with the software supply chain being a common target for cyberattacks. According to PwC’s 2024 Global Digital Trust Insights survey, the proportion of companies experiencing data breaches costing more than USD one million has risen from 27 percent to 36 percent year-over-year.*

To prevent and defend against cyberattacks, various efforts are being made to ramp up software supply chain security, particularly in the U.S. and Europe. The U.S. government has mandated that any company contracted to supply software to a federal agency must submit a self-attestation form confirming compliance with safe software development practices. Similarly, the European Union has proposed a bill mandating the submission of a “software bill of materials” (SBOM). An SBOM is a comprehensive list of the components within a software resource and has emerged as an effective means to enhance supply chain security.

The Korean government is also actively responding to the rise in advanced cyberattacks targeting software supply chains. Earlier this year, Korea’s Digital Platform Government Committee, along with the Ministry of Science and ICT and the National Intelligence Service, created the ‘Software Supply Chain Security Guidelines 1.0.’

These guidelines contain detailed information on minimum SBOM requirements, software security vulnerability inspection criteria, the use of government-supported test beds, and how to specify and utilize software components. Easy to use and follow, the guidelines also include cases verified through last year’s demonstration project for field application, organized by the Korean government.

Large companies, including LG Electronics, are addressing software security vulnerabilities with their own SBOM tools and management procedures. In today’s business environment, software development typically involves the use of OSS and a collaborative system involving multiple partner companies. To ensure the security of the entire software supply chain, it is crucial that each participant plays their role well – taking all necessary steps and using all available tools to prevent security breaches.

For this reason, LG is helping other companies to effectively manage SBOM by releasing the source code of FOSSLight – LG’s in-house developed SBOM tool. FOSSLight can accurately detect a specific piece of OSS, monitor it for security vulnerabilities and retrieve any associated licenses. As the project for open source governance, FOSSLight consists of FOSSLight Hub, an integrated system that can manage open source, and FOSSLight Scanner, which can analyze open source.

LG’s commitment to ensuring security isn’t anything new. At CES 2024, LG CEO William Cho redefined AI as ‘Affectionate Intelligence’ and shared the company’s aspiration to pursue Responsible Intelligence. LG Shield, the company’s AI-based security system, will be applied to every aspect of customer-data collection, storage and usage, and will also be used to protect the software supply chain.

Ultimately, SBOM enhances an organization’s ability to identify and respond to software security vulnerabilities in advance. In addition to preventing organizational information, digital infrastructure, and customer data from being compromised, SBOM can also improve the overall quality of the software used by companies. Furthermore, because it promotes greater transparency in the software supply chain, SBOM is expected to play an important role in strengthening reliability in overseas markets.

This effort was prominently featured in a panel discussion at the OECD Global Forum on Digital Security for Prosperity in July. The panel, titled “Open-source software and vulnerability treatment,” delved into the specific challenges and solutions related to open source software vulnerabilities. The discussion highlighted how both proprietary and open-source software are affected by the reality that increased code complexity often results in more vulnerabilities. The session provided an in-depth exploration of the unique aspects of open-source software and its ecosystem in addressing these issues.

In the future, we hope that the adoption of SBOM will increase throughout the ICT industry, bringing about a safer and more transparent OSS ecosystem that benefits all companies.

By Kim Kyoung-ae, Open Source Task Leader of Software Engineering R&D Lab. at LG Electronics

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* www.pwc.com/bm/en/press-releases/pwc-2024-global-digital-trust-insights.html

LG OLED TV: Delivering the Ultimate Theater Experience at Home

A picture of a man talking with his hand in front of his face

LG OLED TV had a rendezvous with Hollywood experts. The meeting took place at Picture Shop, a post-production company located on Sunset Boulevard in Los Angeles. Since its establishment in 2016, Picture Shop has been responsible for the post-production of not only films but also original series for major streaming platforms. Through collaborations with colorists and sound engineers operating primarily in North America and the U.K., Picture Shop has cemented its position as a global leader in the industry.

The reason for LG OLED TV’s visit to Picture Shop in the fourth week of May was clear. Professionals in the field no longer limit themselves to theatrical settings. With audiences increasingly seeking comfortable viewing experiences at home, it is essential to ensure that images are refined for television as well. For these experts, LG OLED TV is the ultimate partner. Thanks to its vivid picture quality, supported by “Perfect Black,” many color grading studios already use LG OLED TV as their standard review monitor during post-production. With keen anticipation, colorists Walter Volpatto and John Daro; cinematographer and ASC associate member Tim Kang; Edu Grau, ASC, AEC; cinematographer Christopher Blauvelt; and Amy Vincent, ASC visited Picture Shop to review the new 2024 LG OLED TV.

The feature that undoubtedly captured the experts’ attention was “Dynamic Tone Mapping Pro.” This feature allows viewers adjust settings for screen brightness and detail to their preference using the remote control. LG’s proprietary “Affectionate Intelligence” (Affectionate AI) technology identifies the peak luminance of HDR content being played and preserves the brightness within the display’s maximum luminance limit according to the viewer’s preference. This allows viewers to customize the preservation details of the high grayscale (around of highlight), creating the desired picture quality. This way, LG OLED TV not only offers a better viewing environment but also provides the convenience of displaying the desired picture according to the user’s needs.

Cinematographer Edu Grau was impressed, noting, “Its precision and adjustability will be a significant benefit for viewers.”

Another aspect of the LG OLED TV panel that captivated the attendees was its reduction of light reflection and perfect black. Being a self-emissive display without the need for additional light sources, LG OLED TV maintains contrast under any lighting condition. With each self-lit pixel, the Pixel Dimming technology enables perfect black levels and detailed color expression. Colorist John Daro expressed satisfaction, saying, “I could experience very dark and extreme black,” with cinematographer Tim Kang agreeing, “LG is the best at rendering blacks.”

Delighted by the LG OLED TV panels’ ability to display brighter bright areas and darker dark areas, the attendees unanimously remarked, “It’s great to have a TV that allows us to enjoy the visuals as filmmakers intended, right in our homes.”

Now, let’s hear from the experts themselves, with interviews with cinematographer Christopher Blauvelt and colorist Walter Volpatto.

LG OLED TV: Satisfactorily Expressing Content as Intended by the Creator
Interview with Christopher Blauvelt, cinematographer of May December and First Cow

How did you feel about attending the roadshow?
I gained valuable insights. I was impressed by the many achievements of LG OLED TV, particularly how they addressed the issue of light reflection on the TV screen, which allows viewers to see dark parts of the image clearly. The Dynamic Tone Mapping Pro feature was also outstanding. Overall, LG OLED TV’s ‘perfect black’ enhances screen detail and tone while preserving highlights perfectly, which I appreciated.

What did you like about the Dynamic Tone Mapping Pro feature?
It’s great because it allows discerning viewers, including filmmakers, to watch content on TV without losing the image’s highlights and maintaining detail even in very bright scenes. I can’t wait to show this to my colleagues and directors I work with.

Do you have any recommendations for LG OLED TV settings for viewers watching movies at home?
I recommend turning on Filmmaker Mode when watching movies. It kills me to think of someone watching a film in HD mode with High Frame Rate, as it doesn’t properly convey the filmmakers’ intentions. Directors like Martin Scorsese still put a lot of thought into how their work is presented to the world, and so do I. That’s why I’m grateful for Filmmaker Mode. I hope all viewers will click that button to watch movies as the creators intended.

Which films would you recommend watching on LG OLED TVs?
Experiencing the rich colors and contrast of LG OLED makes me want to watch Wong Kar-wai’s In the Mood for Love. I also recommend Kes by Ken Loach, one of my favorite films, and Ida by Pawel Pawlikowski, which beautifully showcase the sharp contrast unique to black-and-white films, for watching on LG OLED TV. Birth by Jonathan Glazer, shot by cinematographer Harris Savides, ASC, is another film I’ve watched many times in theaters and on TV. It will truly shine on an LG OLED TV screen.

LG OLED TV: Home Entertainment with Theater-Quality Viewing
Walter Volpatto, colorist for Megalopolis and Star Wars: Episode VIII — The Last Jedi

What are the strengths of LG OLED TV that you experienced at the roadshow?
One of the issues you might encounter when watching TV in a typical home environment is screen reflections caused by light sources. However, the LG OLED TV panel saw today almost eliminates these reflections, achieving the desired black even in environments with minimal light. This enhances the screen’s detail and contrast without losing color tones. It’s an excellent panel even when direct light is shining on it. If you want a cinematic experience at home but can’t have a full theater setup, LG OLED TV offers the closest experience. I have a 65-inch LG OLED TV, but seeing this makes me want to upgrade to a 90-inch for a more immersive experience.

How did the screen look with Dynamic Tone Mapping Pro applied?
As a professional, I was impressed with LG OLED TV’s Dynamic Tone Mapping Pro feature. We always think about how to make the screen look more elegant and impressive when the TV’s luminance signal is strong. With the Dynamic Tone Mapping Pro feature, viewers can adjust the screen’s brightness, allowing professionals to place the light exactly where they want it.

Is there another feature of LG OLED TV that you recommend for users?
Above all, I would recommend using Filmmaker Mode. It ensures the screen is well-calibrated, delivering images as the creators intended. Also, when watching movies on TV, instead of complete darkness, I suggest having a faint light to reduce eye strain. Enjoy LG OLED TV with an 80% dark gray background and a 5.1 surround system.

Which films would you recommend watching on LG OLED TVs?
I recommend the feature-length documentary Fathom, which I worked on as a colorist. This film follows whale researchers and is like a window overlooking the sea. It would be truly impressive to watch it on an LG OLED TV.

For more immersive movie watching experience, visit the LG OLED Movie Club.

This story was edited from an editorial feature article published in CINE21 by Nam Sun-Woo with photography by Ha Jin-kyung.

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LG’s Anti-Discoloration Tech for Outdoor Digital Signage First to Receive UL Verification

An illustrative image of a woman interacting with an outdoor digital menu board

Company’s Latest Innovation Provides Enhanced Protection Against Screen-Yellowing
for Digital Signage Used in Outdoor Environments

SEOUL, Aug. 1, 2024 — LG Electronics (LG) is introducing its advanced Anti-Discoloration^™ technology for outdoor digital signage. Verified by respected standards and testing organization, UL Solutions, LG’s new tech helps prevent ‘screen-yellowing,’ a common issue for outdoor digital signage products caused by prolonged exposure to sunlight. This innovative tech simultaneously safeguards display quality and performance stability, ultimately helping extend the lifespan of LG digital signage used in outdoor environments.

LG is the first company to achieve UL verification for the display anti-discoloration characteristic technology for digital signage. LG developed a comprehensive testing methodology and defect-evaluation criteria, and UL Solutions independently assessed the product to the criteria in support of LG’s marketing claim. Prior to this, there were no internationally recognized standards or testing methods for measuring a display’s resistance to screen-yellowing.

The use of outdoor displays in settings such as drive-thru restaurants, bus stops, schools and sports stadiums has become commonplace in recent years and is steadily increasing across a variety of B2B sectors. However, prolonged exposure to sunlight can cause the screens of these versatile display products to turn a yellowish color over time. LG’s Anti-Discoloration^™ technology helps address this issue, reinforcing the quality and durability of the company’s outdoor digital signage solutions.

LG developed its protective technology to provide better value to B2B customers utilizing digital signage in outdoor environments. The company’s research indicated that customers were having to replace their outdoor signage products at a faster rate and experiencing service interruptions due to persistent discoloration issues. To address these pain points, LG’s outdoor displays with Anti-Discoloration^™ technology also incorporate advanced thermal solutions and panel materials for added reliability, even in the toughest of conditions. UL Verified product incorporating Anti-Discoloration^™ technology has already been implemented in several of the latest LG high-brightness outdoor signage products, with plans to expand its application to a wider range of solutions in the future.

“Our UL Verification of products with Anti-Discoloration^™ technology actively reinforces the performance and quality of our digital signage products,” said Paik Ki-mun, senior vice president and head of the Information Display business unit of LG Business Solutions Company. “Through targeted research and development programs, we will continue to identify and resolve any inconveniences that detract from the overall LG digital signage experience, thereby continuously enhancing customer satisfaction and trust.”

To learn more about LG’s digital signage solutions with Anti-Discoloration^™ technology, please visit www.lg-informationdisplay.com/product/digital-signage/high-brightness.

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Striking an Elegant Balance Between Art and Technology in Vietnam

A photo of a man and a woman taking a photo in the background of the screen at multi-sensory experience space

With art’s innate ability to inspire and transform our perceptions on life, LG has long championed its intersection with the most cutting-edge technology. This commitment led to the launch of the LG OLED ART project, which showcases vibrant digital canvases that celebrate the beauty of art through millions of self-illuminating pixels. This initiative has already recreated several masterpieces from world-renowned artists and fostered collaborations with some of the most distinctive contemporary artists on Earth.

In line with this initiative, LG Vietnam recently kicked off ‘The Future Becomes Now’ digital art exhibition on the first floor of Lotte Mall West Lake. This exhibition plunges visitors into the latest OLED masterpieces, highlighting a decade-long commitment to pioneering OLED technology.

To curate one of the most interactive and multi-sensory art experiences the nation has ever seen, LG Vietnam collaborated with the skilled Vietnamese visual artists of Fustic Studio. The result is an immersive art gallery experience that guides visitors on a journey through the interconnectedness of all things, from the harmonious cycles of nature to the universe and technology.

The artworks on display are being showcased on a massive canvas comprised of six expansive LG OLED TVs. Visitors can even add to each artwork’s beauty through interactive hand gestures inspired by LG OLED evo M4’s revolutionary Zero Connect technology. With cameras in front of the TV and a system behind tracking visitors’ movements, guests can create and interact with the artwork on the screen.

One of the exhibition’s focal points is its multi-sensory experience space, which reflects a contemporary trend in art viewing that seamlessly integrates sound, materials and light. Visitors can fully immerse themselves in a futuristic vision where technology and digital data harmonize with nature and the universe. Fustic Studio drew much of its inspiration from LG’s dedication to pushing technological boundaries and enriching user experiences, particularly through the breathtaking beauty of LG’s OLED masterpieces.

The exhibition also gives visitors the opportunity to explore the company’s newest OLED TVs, which come with comprehensive upgrades designed to meet consumers’ entertainment needs by excelling in four key areas: freedom, intelligence, immersion and style.

In the “Beyond Freedom” zone, visitors can experience the world’s first wireless 4K 144Hz OLED TV, the LG OLED evo M4. This model uses the Zero Connect Box to eliminate clutter from wires and peripheral devices, giving home designers the freedom to install their TV wherever they choose. LG has also enhanced the user experience by applying the latest α (Alpha) 11 AI processor to its new OLED evo M4 and G4 series, enabling them to go “Beyond Intelligence.” This upgrade delivers four times faster AI performance, 70 percent enhanced graphics performance and 30 percent faster processing speeds compared to the previous generation.

In addition, the 2024 LG OLED TV lineup promises to take users “Beyond Immersion” with screen sizes ranging from 48 to 83 inches. Even LG’s largest OLED TVs retain that trademark ultra-thin design, exuding luxury and making any living space sleeker and more stylish. The exhibition also introduced products that go “Beyond Style,” including the new LG Object Posé and LG StanbyME with various improvements. Among them, the newest Posé model uses a new OLED evo display as well as the latest Alpha 9 AI Gen 7 processor.

The LG X Fustic Studio art exhibition highlights the close relationship between art and technology through truly inspiring works. Stay tuned to LG Newsroom to discover more initiatives that showcase LG’s latest innovations in uniquely captivating ways.

Contributed by LG Vietnam

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Promoting Physical Wellness With the 10K Race in the Heart of Bangkok

A picture of people running in a 10K Race holding and waving Life's Good banner

LG believes that the key to a happy life lies in embracing and spreading optimism. The company is committed to initiatives that encourage communities to engage in activities promoting physical health and fitness.

Last month, LG Thailand presented the “Kao Ta Jai 10K Thailand Championship 2024 Presented by LG,” a 10-kilometer race held at Sanam Luang in the heart of Bangkok. The event was hosted in collaboration with the Step Challenge Association, Thailand’s Department of Health, Thai Health Promotion Foundation, Athletics Association of Thailand and the Tourism Authority of Thailand (TAT).

The ‘Kao Ta Jai 10K Thailand Championship 2024 Presented by LG’ has set a new benchmark for international competition events. Supported by the Athletics Association of Thailand, the event focuses on ensuring a safe race route, certified distances and official statistics of the running results for all participants.

The primary goal of the event was to promote activities for better physical health and foster a strong sense of community connected by exercise. As an official sponsor, LG Thailand aimed to inspire people in Thailand to take joy in exercising by running together in a setting filled with positive energy.

Attracting over 7,000 participants, the event garnered significant interest from health-conscious individuals. The high level of engagement reflects a growing awareness among Thai people about the importance of taking care of one’s health and demonstrates how ‘Life’s Good’ when the community gathers together to share the joy of exercise.

In addition, the event was designed to inspire and encourage Thai people to engage in more physical activity and exercise, which can lessen the burden on medical personnel and lower the risk factors for chronic diseases in the country. As more people in Thailand maintain good health, the national healthcare system will continue to improve.

To hype up the grand event even further, more than 500 LG members in Thailand participated in this marathon, including LG employees in Bangkok who joined with their friends and loved ones, LG staff from the Thailand Factory in Rayong province, as well as LG’s partners. Moreover, LG Thailand also set up the ’Countdown 50 days, 500K steps, Kaotajai 10K Championship 2024 Presented by LG’ internal activity, encouraging all employees to increase their steps and exercise in preparation for the marathon. The winner of this activity took a total of 1,002,939 steps in 50 days.

After completing the race, participants could visit the LG booth to learn more about the company’s latest innovative products and how LG creates a better life for all. To discover how other LG offices are spreading the ‘Life’s Good’ brand philosophy, visit the LG Newsroom.

Contributed by LG Thailand

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Reimagining Home Appliance Design at the Warsaw Grand Theatre

LG is committed to enhancing daily life through the synergy of art and technology, infusing each product lineup with equal measures of innovation and design. Even appliances primarily focused on functionality are now crafted with an eye for design versatility, as exemplified by the company’s high-performance air conditioners.

At the end of June, LG Poland unveiled its latest ARTCOOL and DUALCOOL air conditioners at a special event held at Warsaw’s Grand Theatre and National Opera. This presentation highlighted the unique blend of advanced technology and sophisticated aesthetics that define these air conditioners.

This event showcased LG’s most visually striking air conditioners to date, offering ballet and opera enthusiasts a chance to experience firsthand how modern technology and art can create a new level of appreciation for both realms.

As the venue is home to the Polish National Ballet, the presentation featured a photograph exhibition by Ewa Krasucka, an artist who has dedicated more than two decades to capturing the beauty of dance. Krasucka’s stunning images of ballet dancers in elegant poses were displayed throughout the venue, blending harmoniously with the theatre’s sophisticated interior and LG’s air conditioners.

Photo credits: Polish National Opera

LG’s energy-efficient ARTCOOL Gallery air conditioners are distinguished by their design, which seeks to complement the space instead of disturbing it. The LG ARTCOOL Gallery LCD mode features a screen that display images and receive photos from smartphones, while the photo version allows users to showcase their favorite artwork, adding a personalize touch to their space. LG ARTCOOL air conditioners not only deliver comfortable room conditions and high energy efficiency, but they also introduce new design elements to home interiors, as demonstrated by the visualizations created by Paweł Jurkiewicz Studio alongside Adriana Ponikiewska of adpo studio.

Photo credits: Paweł Jurkiewicz, Adrianna Ponikiewska

“My dedicated tenement interior presents the aesthetic values of the LG ARTCOOL Gallery air conditioner. Its ambiance was curated to show how even technical elements, like an air conditioner, can blend into a classic apartment with ease,” said interior designer Paweł Jurkiewicz. “Thanks to its technical properties, the air conditioner can hang as low as 150 centimeters above the floor, like a picture frame, which served as the inspiration for the LG ARTCOOL Gallery model. A typically masked device has become a decorative element, giving designers the freedom to choose its perfect location. On one hand, the air conditioner promises efficient operation, while on the other, users need not worry about it visually disturbing the décor’s harmony.”

Photo credits: Paweł Jurkiewicz, Adrianna Ponikiewska

LG consistently demonstrates that its products combine innovation with premium design, offering solutions that enrich and facilitate consumers’ everyday lives to ensure ‘Life’s Good.’ For more stories on how the company is redefining the design of home appliances, whether they’re in clear view or not, please visit LG Newsroom.

Contributed by LG Poland

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[World Environment Day with LG🌱] Planting Trees to Positively Impact the Planet

A group photo of LG Argentina volunteers holding Life's Good slogan banners and signs

Celebrated annually on June 5, World Environment Day presents a vital opportunity to raise awareness about environmental issues and take action to protect our planet. This year, LG offices around the world participated in tree planting initiatives, engaging with local communities to create a better environment for all.

LG Singapore kicked off its activities this June with a tree planting event that brought together employees and environmental enthusiasts under the OneMillionTrees movement.

More than seventy employees gathered at Camp Road to plant 50 trees in the cosy Tanglin area. The seven species planted included the dwarf powder puff tree, batoko plum tree, pink kopsia tree, white chempaka tree, frangipani tree, spicate eugenia tree and the river tarenna tree. These species play a vital role in enhancing Singapore’s ecosystem and natural landscape.

Employees eagerly rolled up their sleeves to dig plots and transfer saplings to their new homes, working together with a shared purpose to contribute to the local community. Welfare packs were given to the participants to ensure that everyone stayed hydrated during the planting session.

LG’s tree planting efforts contribute to broader environmental goals, such as combating climate change and preserving biodiversity. By taking action at the local level, LG Singapore demonstrates its commitment to worldwide sustainability efforts and a greener future for generations to come.

Joining in on the action, LG Argentina hosted a tree planting activity as part of the company’s voluntary corporate social responsibility (CSR) activities. For the second consecutive year, LG Argentina participated in the Plantarse Urban Forests Program, leading local environmental initiatives. The partnership has already seen more than 750 trees planted, representing an estimated CO2 reduction of 145,000 kilos.

Plantarse is an organization that promotes sustainability and cultural change through a combination of approaches, themes and funding sources to address social and environmental issues.

Thirty-five LG volunteers ventured to an ecological reserve to recreate the area’s original ecosystem. This activity is one of many environmental and CSR initiatives that LG conducts in collaboration with numerous non-governmental organizations such as Plantarse and Fundación Sí.

LG Argentina also took part in native forest regeneration efforts in Pampa de Achala, Córdoba, planting 125 trees. Dominated by the endemic Tabaquillo species, these high altitude forests required participants to trek up the mountain with tools, plants and irrigation systems.

Last but not least, LG Vietnam planted trees at a local university to show the company’s dedication to ‘Life’s Good’ and making the planet a better place for all.

Aligned with the company’s global environmental strategy, LG Vietnam planted 50 saplings at Hutech University’s Hitech Park Campus, with the participation of LG employees and students. Each tree will provide shade and cleaner air for students, symbolizing a promise to foster a greener and healthier environment for the younger generation to develop. This meaningful activity not only embodies the ‘Life’s Good’ commitment, but it also helps to enhance the engagament of the company and the youth.

LG offices worldwide remain steadfast in their commitment to positively impacting the environment through a variety of activities. Stay tuned to the LG Newsroom to learn more about LG’s diverse activities around the world and how the company’s employees contribute to a better future.

Contributed by LG Singapore, LG Argentina and LG Vietnam

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LG Releases Second-Quarter 2024 Financial Results

A photo of LG Twin Towers in the daytime

Company Sets New Records for Second Quarter Revenue and Operating Profit
Through Balanced Qualitative Growth in Core and Future Businesses

SEOUL, July 25, 2024 — LG Electronics Inc. (LG) today announced second-quarter 2024 consolidated revenue of KRW 21.69 trillion and operating profit of KRW 1.20 trillion, reflecting an 8.5 percent year-over-year increase in revenue and a 61.2 percent surge in operating profit. These figures mark new records for the highest second-quarter revenue and operating profit in the company’s history.

Key drivers of this performance include the home appliance and vehicle component sectors, both achieving their highest quarterly revenues to date. Sales from LG’s Home Appliance & Air Solution Company and Vehicle component Solutions Company combined reached KRW 11.53 trillion, up 8.2 percent from the previous year. Both Companies also reported record-high second-quarter operating profits, totaling KRW 776.1 billion, which represents a 45 percent year-over-year increase.

These results highlight LG’s balanced growth across its core and future businesses. This growth demonstrates not only external expansion but also solid profitability, contributing to qualitative improvements in overall performance.

LG continues to transform its business portfolio towards a future-oriented approach, maximizing the potential of existing businesses while securing new growth opportunities. The company is also focused on rapidly advancing high-growth potential new businesses.

The fast growth in LG’s B2B sector significantly contributes to establishing a future-oriented business structure. Despite a temporary slowdown in EV demand, the vehicle component business continues to grow, supported by a diversified client base of electric and internal combustion vehicles and a strong order backlog. Additionally, LG’s heating, ventilation and air-conditioning (HVAC) business, which includes high-efficiency chillers, is exploring growth opportunities within the AI infrastructure sector.

In the B2C domain, LG is accelerating the integration of new business models that combine traditional hardware sales with intangible, non-hardware offerings such as content, services and subscriptions. The webOS content and services business is expanding beyond TVs into IT and infotainment, with projected revenues set to surpass KRW 1 trillion this year.

Additionally, the subscription business, which merges products with services, is gaining remarkable momentum. After achieving success in Korea, LG is now expanding this subscription model internationally. Last year, subscription revenue exceeded KRW 1 trillion, with growth accelerating this year. In June, 36.2 percent of major home appliances sold at LG Brand Shops in Korea were subscription-based. This model, particularly popular among young Korean customers, is now being introduced to global markets. For example, LG has launched LG Rent-Up in Malaysia, offering subscriptions for nine products, including washing machines, dryers and refrigerators.

LG is also expediting the advancement of new businesses. The smart factory business, which combines the company’s manufacturing expertise with AI, is expected to secure orders worth KRW 300 billion this year, expanding its customer base in industries such as semiconductors and biotechnology. Furthermore, LG’s partnership with ChargePoint, North America’s leading EV charging company, is set to boost the EV charging business by combining ChargePoint’s chargers with LG’s commercial display advertising solutions, ‘LG DOOH Ads,’ creating new market opportunities.

The LG Home Appliance & Air Solution Company generated second-quarter revenue of KRW 8.84 trillion and an operating profit of KRW 694.4 billion. Compared to the same period last year, revenue increased by 11 percent and operating profit by 16 percent, marking the highest revenue for a single quarter and the strongest second-quarter operating profit to date.

In the second quarter, LG’s volume zone strategy – designed to address polarized market demand – proved effective by diversifying its product lineup and pricing to meet growing needs in emerging markets such as Latin America, the Middle East and Africa. Contributions from new business areas, including subscriptions and Online Brand Shop sales, bolstered the strong performance. Looking ahead to the third quarter, LG intends to remain agile in adapting to market shifts and to continue expanding its B2B sectors, particularly HVAC and built-in appliances. The recent acquisition of smart home platform company Athom is expected to create synergies within the home appliance sector. Additionally, LG will leverage its top-tier global manufacturing capabilities to secure robust profitability.

The LG Vehicle component Solutions Company achieved second-quarter revenue of KRW 2.69 trillion and an operating profit of KRW 81.7 billion. Revenue increased by 1 percent year-over-year, and the operating profit turned positive. This quarter’s revenue was the highest for any quarter, and the operating profit was the strongest for a second quarter.

Despite a temporary slowdown in the EV market during this period, LG saw growth by effectively addressing increased demand for premium in-vehicle infotainment products and plans to continue expanding its vehicle components business. This strategy includes increasing sales of premium new products as well as safety and convenience solutions, such as Advanced Driver Assistance Systems, in line with existing order programs.

The LG Home Entertainment Company posted second-quarter revenue of KRW 3.62 trillion and an operating profit of KRW 97 billion. Revenue increased by 15 percent compared to the same period last year, driven by a recovery in demand in Europe, a key market for premium OLED TVs. Growth also continued in the webOS content and service business. However, operating profit declined due to increased costs, including rising LCD panel prices.

Overall TV market demand is expected to show modest growth in the third quarter compared to last year, with premium OLED TVs anticipated to outperform the broader market. LG will aim to maintain operational efficiency by minimizing cost burdens, such as rising LCD panel prices, through increased sales of OLED TVs.

The LG Business Solutions Company reported second-quarter revenue of KRW 1.46 trillion and an operating loss of KRW 5.9 billion. Revenue increased by 9.9 percent year-over-year, driven by expanded sales of strategic products such as LED signage, electronic whiteboards and gaming monitors. However, profitability was impacted by cost increases, including LCD panel prices, and ongoing investments in growth areas like EV charging and robotics.

In the third quarter, market growth for premium products such as commercial displays and gaming monitors is expected to continue. The Company will focus on expanding sales of strategic products and improving profitability through efficient resource management.

Earnings Conference and Conference Call
LG Electronics will hold a Korean / English conference call on July 25, 2024, at 16:00 Korea Standard Time (07:00 GMT/UTC). Conference call participants should pre-register online to receive a private PIN. The corresponding presentation file will be available for download at the LG Electronics website before the call.

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