LG Opens New Scroll Compressor Production Line in Mexico

Increased Manufacturing Capacity to Strengthen Company’s Competitiveness,
Help It Meet Growing Demand From North American Businesses

SEOUL, Jan. 19, 2024 — LG Electronics (LG) announces the opening of a new scroll compressor production line at its factory in Monterrey, Mexico. The new line bolsters LG’s scroll compressor manufacturing infrastructure, enabling the company to produce more of its acclaimed, eco-conscious solutions while creating a shorter supply chain for servicing customers across North America.

LG’s decision to establish a production line in Mexico comes at a time when many U.S. heating, ventilation and air-conditioning (HVAC) manufacturers are facing challenges due to escalating logistical disruptions. The strategic move places an LG scroll compressor production base in close proximity to key North American markets; setting up a production/logistics system that will help the company better respond to regional demand and lessen the impact on customers of factors such as logistic issues.

LG’s scroll compressors play a major role in the company’s HVAC components business. At AHR Expo 2023 in Atlanta, Georgia, LG showcased its energy-efficient Gen 3 Scroll Compressors for residential air conditioners and heat pumps, as well as large-capacity scroll compressors for commercial system air conditioning.

Designed with the future in mind, Gen 3 Scroll Compressors are symbolic of LG’s continuing leadership in HVAC innovation. In anticipation of refrigerant regulations taking effect in 2025,¹ and in line with the company’s commitment to the environment and sustainability, the compressors utilize low Global Warming Potential (GWP) refrigerants. With GWPs less than 700 – far lower than the 2,088 GWP of R410A – these refrigerants easily meet the newest eco-focused standards for refrigerants. The structure of the Gen 3 Scroll Compressors also helps to ensure compliance with the latest efficiency standards² by reducing energy waste and heat loss.

“The new, state-of-the-art production line in Mexico will enable us to produce more of our eco-conscious scroll compressors and fortify our ability to service the North American market,” said Kim Yang-sun, head of the Component Solution Business Unit at LG Electronics Home Appliance & Air Solution Company. “LG will continue to provide advanced technologies and components to meet the diverse needs of its global customers.”

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¹The state of California has passed legislation that will ban the use of refrigerants with a GWP over 750 from the year 2025.
²LG’s compressors meet the requirements of the U.S.’s new HVAC efficiency standard, which went into effect on January 1, 2023.

Reinvent Your Laundry Experience With the LG WashCombo

Image of a woman using the LG WashCombo and a man with a dog next to her

In today’s fast-paced world, finding the time to take care of our household chores is no easy thing. Doing the laundry can be among the most time-consuming and effort-intensive of these chores, typically necessitating a lengthy, multi-step process to get everything clean and dry. To liberate us from the more inconvenient aspects of this essential task, LG is introducing the WashCombo™ All-in-One Washer/Dryer – the newest addition to its line of advanced laundry solutions – in the United States. This new product revolutionizes the laundry experience as a time-saving appliance that boasts high efficiency, bringing us closer to the dream of a Zero Labor Home.

The WashCombo seamlessly integrates a washer and dryer into a single, space-friendly appliance. Saving time and simplifying the entire laundry process, LG’s all-in-one runs a complete wash-and-dry cycle in under two hours, with no need to transfer clothes from one appliance to another.¹And thanks to its compact, ventless design with standard 120v plug, the innovative laundry solution offers outstanding installation flexibility and ensures the ideal use of your precious indoor space.

Featuring LG’s renowned Inverter HeatPump™ technology and Direct Drive Motor, the WashCombo delivers a quiet performance while maximizing efficiency, using up to 60 percent less energy than a vented model.² Equipped with built-in sensors and AI technology, it can detect fabric texture, soil level and load size, then automatically select the best settings (washing and drying motions, temperatures and more) to provide advanced fabric care and outstanding laundry results. The WashCombo also boasts a 5.0-cubic-foot capacity, so that it can handle larger loads – even a bulky king-size comforter.³

LG’s latest washer/dryer also presents convenient control with ThinQ™ technology. The ThinQ app offers solutions to potential issues, preventing product misuse and enabling easy maintenance. Through AI Speaker Connectivity, the app also lets you monitor and remotely control your products by simply commanding Amazon Alexa or Google Assistant with your voice. What’s more, you can download additional cycles and access Smart Diagnosis and customer support⁴ through the app, enhancing the overall user experience and making life – and laundry – much easier.

With LG’s groundbreaking product, you can bid “farewell” to the hassles of laundry past and say “hello” to a brand-new era of efficient and effortless clothing care.

The new LG WashCombo All-in-One is available for purchase on LG.com.

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¹Based on independent testing of Wash+Dry cycle, Dryer on Energy Saver mode, 10 lb. load (October 2023).
²60 percent more energy efficient drying – efficiency rating as compared to the requirements for ENERGY STAR® qualification for standard electric dryers. Based on EnergyStar.gov (November 2023).
³Based on manufacturers’ published specs of front-load washer/dryer combos with a width of 27 inches or less (September 2023).
⁴Available on select LG smart appliances. Features may vary by model.

LG and BoConcept Captivate Parisians With Immersive Design

Photo of three people in a living room enjoying the LG Objet Collection Pose

The mark of a successful partnership is a result that demonstrates how coming together creates something better than what one could accomplish alone. World-renowned for its TVs that feature exceptional technology and high-quality materials, LG is dedicated to ensuring its products also present design options that fit seamlessly into the atmosphere of a home.

To show LG’s commitment to product design, LG France partnered with BoConcept, a renowned Danish designer furniture brand famous for its aesthetics and attention to detail. Highlighting how the company’s Lifestyle Screen products provide interior-design freedom, the BoConcept showroom became the canvas for the LG Objet Collection Posé – a blend of technology and design elements that elevate the home entertainment experience with exquisite style.

The unveiling of the product at BoConcept attracted the attention of many journalists and influencers, with some visitors remarking on LG’s growth as a company that equally values appearance and advanced technical components in its products. The success of the collection also sparked anticipation for further collaborations between LG and premium designer furniture brands.

A successful demonstration of the combination of technology and contemporary design, this partnership formed the perfect amalgamation of noble materials and refined finishes with both brands’ products. The LG Objet Collection Posé was on display at 24 BoConcept showrooms across France until the end of last December, providing the perfect opportunity for customers to explore the premium TV that will redefine the ambience of any home. With this event, LG further solidified itself as a brand with a strong sense of aesthetics and points to an optimistic future of collaborative design.

More details of this partnership can be found on the LG x BoConcept website. Stay tuned for more updates on LG’s future design collaborations that highlight the design of its state-of-the-art products.

Contributed by LG France

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LG UltraGear at the Forefront of Esports Culture With Ongoing Gen.G Partnership

Image of five players standing with UltraGear

‘Born to Game,’ LG UltraGear Has Been Supporting Gen.G Teams With Its High-
Performing Gaming Monitors Since 2021

SEOUL, Jan. 17, 2024 — LG Electronics (LG) is extending its official partnership with Gen.G Esports (Gen.G), one of the world’s preeminent esports organizations. As part of this collaboration, LG UltraGear™ – the industry-leading gaming monitors, renowned for their rapid refresh rates and responsive performance – will continue to be provided to Gen.G’s professional teams. The partnership aims to promote esports globally and will involve various exciting activations in the international esports scene.

Gen.G operates a number of professional esports teams specializing in popular multiplayer games including League of Legends. Since LG UltraGear was named the official display of Gen.G in 2021, the organization’s League of Legends team in South Korea has achieved remarkable success in the League of Legends Champions Korea. The team secured three consecutive season victories – starting from the 2022 summer season through to the 2023 summer season.

Chovy, a gold medalist in the League of Legends event at the 19th Asian Games Hangzhou and the mid-laner for Gen.G’s League of Legends team, praised LG UltraGear gaming monitors saying, “Their quick response times and high refresh rates provide an advantage in complex in-game situations, enabling more precise control and smoother playmaking.” While very impressed by all of the high-performance options in the UltraGear monitor lineup, Chovy’s personal favorite is the 27-inch UltraGear OLED gaming monitor (model 27GR95GE).

In addition to supporting Gen.G team members in their pursuit of championship goals, LG actively collaborates with them in the development of new LG UltraGear gaming monitors. The feedback from professional players helps fine-tune the latest models. The recently unveiled League of Legends-themed UltraGear OLED gaming monitor (model 27GR95QL) offers an incredibly immersive gaming experience with a unique ‘League of Legends’ aesthetic, and its design was influenced by input from professional players. LG also supports the Gen.G Global Academy by providing ultra-fast gaming monitors (model 25GR75FG) to students aspiring to become esports professionals.

“It is such an honor to enter into our fourth year of partnership with LG UltraGear. Since 2021, they have been our partner in innovation, enriching the world of esports for gaming fans around the globe,” says Arnold Hur, CEO of Gen.G Esports. “They support not only our professional teams, but also the development of the next generation of gamers in the Gen.G Global Academy.”

“We are very proud and pleased that LG UltraGear is helping Gen.G players to deliver consistently excellent results in major tournaments,” said YS Lee, vice president and head of the IT business unit of LG Business Solutions Company. “LG UltraGear remains committed to developing high-end gaming products and to supporting the latest gaming technologies, with the goal of delivering a gaming experience that can satisfy all esports players, whether they’re enthusiastic amateurs or top-ranked professionals.”

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LG Opens Its First U.S. Factory to Produce Advanced EV Chargers

An image of three flags standing at the factory site

Texas Production Factory to Solidify Company’s Position
as a Trusted EV Charging Solutions Provider

SEOUL, Jan. 15, 2024 — LG Electronics (LG) has expanded its electric vehicle (EV) charging solutions infrastructure, opening its first EV charger production factory in the U.S. The new, 5,500-square-meter facility, located in Fort Worth, Texas, will focus on delivering chargers for the North American market and is expected to have an annual capacity of more than 10,000 units.

The factory is LG’s first EV charger production site outside of South Korea, where the company last year opened an EV charger manufacturing operation under its affiliated company HiEV Charger.

LG chose to establish its U.S.-based EV charger production factory in Texas for multiple, strategic reasons, such as the ability to utilize existing facilities. The state also boasts excellent logistics and transportation networks and is home to major operations for companies in industries ranging from automobile manufacturing to finance.

In 2023, when announcing the company’s future vision, LG CEO William Cho noted that ‘Electrification’ would be a major driver of rapid mid- to long-term growth. LG’s entry into the U.S. EV charging market will enable the company to address rising local demand and discover new business opportunities. Strategically and philosophically aligned with several of the energy and environmental goals set out in the U.S. government’s Inflation Reduction Act, the sustainability-focused company is committed to bolstering its EV charger business, and has commenced plans to grow its presence around the world, including in Asia and Europe.

LG has started assembling 11kW chargers at its Texas factory and will begin production of 175kW fast chargers within the first half of the year. LG also aims to introduce a 350kW ultra-fast charger in 2024, expanding its EV charger lineup to meet the varied needs of customers, especially those operating in areas such as commercial travel and long-distance transportation.

The company is quickly earning a reputation as a reliable EV charger provider thanks to its manufacturing capabilities, quality control and after-sales service. Through emphasizing its differentiated offerings, including control and advertising solutions, LG is confident that the EV charging solutions business will continue to improve its market position over the mid- to long-term.

Furthermore, LG intends to tap into the diverse EV charging demands of various businesses and facilities, such as hotels, shopping malls, retail stores, gas stations and parking garages, to drive future growth. LG’s B2B experience in the U.S. hotel TV and digital signage sectors provides valuable insight that is expected to aid in the U.S. expansion of the company’s EV charging solutions business.

The global EV charging market is expected to grow to USD 186 billion by 2030, according to Roland Berger, a global management consulting firm. The market expansion is being driven by several factors, including the ongoing implementation of regulations aimed at protecting the environment and the continuous progress of vehicle electrification.

“By establishing our EV charger production factory in Texas, we will be able to actively respond to the rapidly growing demand for EV infrastructure in the U.S.,” said Jang Ik-hwan, president of the LG Business Solutions Company. “LG is dedicated to delivering uncompromising quality and will offer customers reliable EV charging solutions that combine efficient charger units with advanced control systems.”

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Innovations Lifting Customer Experience on Full Display at CES 2024

Photo of LG's booth at CES 2024 with the OLED T display

From January 9-12, LG displayed its newest innovations at CES 2024 under the theme of ‘Reinvent your future.’ This meticulously curated booth, featuring zones across various spaces, demonstrated LG’s expansion beyond the home into new areas, such as mobility and commercial spaces, in its journey to become a ‘smart life solution company.’

Let’s take a look at some of LG’s cutting-edge products introduced at CES 2024, designed to make life better not only for customers but the earth as well.

Before entering LG’s booth, visitors were welcomed by the familiar hues of LG Active Red, a signature color for the company. The entrance featured two large displays showcasing the company’s Life’s Good brand promise incorporating new creative elements aimed at resonating with younger audiences, infusing the brand with a touch of youthful exuberance. This preview set the stage for an exploration of how LG’s advancements in technology are poised to enhance the customer experience to, ultimately, make life better.

The spotlight of the show was the LG SIGNATURE OLED T, the world’s first 77-inch 4K wireless transparent TV – a truly spectacular innovation unlocking new possibilities. The massive media art display, comprised of fifteen 77-inch LG OLED Ts seemingly floating in the air, highlighted the TV’s ability to move freely without being constrained by wires or cords – a feat made possible by the Zero Connect Box.

In the ‘Life with OLED T’ zone, created in collaboration with premium Dutch lifestyle brand Moooi, LG presented how the LG OLED T can redefine the screen experience, liberating the space and transforming into a design object to open a realm of possibilities like never before. The TV’s Transparent Mode enables it to blend with the surroundings, transcending the traditional dominance of a television and becoming a part of interior design. When it’s time to view content, users simply have to raise the black screen to enjoy the exemplary LG OLED picture quality to the fullest.

The zone also featured other TVs, including the Posé, a lifestyle TV from the LG OLED Objet Collection, which also elevates the home as an object of décor. The LG StanbyME Go, with its portable briefcase design, adjustable 27-inch touchscreen and 3-hour battery life, prioritizes user convenience and offers ultimate flexibility for on-the-go entertainment.

The zone featured more than just TVs. Unveiled for the first time at CES, the LG gram Pro 2-in-1 is the newest model that takes the ultra-lightweight, compact design and powerful performance that LG gram is known for to the next level. Next to the LG gram Pro, visitors had the opportunity to try out the newly unveiled LG MyView Smart Monitor, equipped with LG’s webOS platform, providing access to OTT streaming services, home office applications and various content, all without the need for a PC connection.

LG’s smart TV platform, webOS, provided a wealth of entertainment and engaging experiences, aligning with LG’s objective to transform into a media and entertainment platform company. Inviting users to explore the world of entertainment powered by webOS, the ‘webOS Experience Zone’ comprised numerous self-lift OLED displays playing an endless stream of content from webOS content partners. Placed at the end of the tunnel, the 97-inch LG OLED M stood as LG’s first 4K 144Hz wireless TV, powered by Alpha 11, the world’s first processor dedicated to OLED. This innovative technology played a crucial role in ensuring lifelike picture quality and immersive, space-filling sound by adapting to the viewer.

Next, the ‘Smart Home’ zone highlighted CEO William Cho’s insights shared during LG World Premiere, where he introduced the concept of redefining AI as “Affectionate Intelligence.” To offer visitors an idea of the rich ecosystem created by LG products and connected through ThinQ, the zone was filled with a wide variety of LG appliances equipped with AI-supported intelligent sensors, optimized to study and analyze users’ unique life patterns to generate data that can be used to train LG’s AI.

At the zone, visitors were able to witness a demonstration of LG’s smart home AI agent, an all-around home manager and companion that showcased the company’s commitment to realizing the vision of a “Zero Labor Home.” The AI agent, featuring an advanced ‘two-legged’ wheel design, autonomously navigates through the home. Leveraging multi-modal AI technology, it possesses the capability to comprehend context and intent, enabling seamless communication with users.

After exploring LG’s TVs and home appliances, visitors moved on to see how LG is expanding into new spaces, starting with mobility. Introduced at IAA Mobility in September 2023 and showcased for the first time at CES 2024, LG Alpha-able proposed a future mobility experience where vehicles transcend mere transportation functions, evolving into spaces for efficient use of time and diverse experiences.

The zone also featured the EV Charger section, demonstrating LG’s capabilities as an integrated solution provider in the mobility space, with LG e-Centric standing as the company’s solution for the optimal operation and efficient management of EV chargers.

Transitioning to the ‘Commercial’ Zone, attention shifted to LG’s B2B products. The zone, themed around a trip to Las Vegas, showcased various products, including transparent OLED displays, biometric authentication, AI-based personalized advertising solutions and robot products such as LG CLOi, in various commercial environments. The zone also introduced digitalized and eco-conscious HVAC solutions and Building Energy Management, delivering exceptional performance to commercial buildings.

Continuing the journey, the ‘LG Labs’ zone, an area dedicated to the company’s experimental and innovative products and services, garnered significant attention. At its center, ‘Bon Voyage’ showed LG’s take on a customized living space designed to extend the living space into nature. The upgraded camping trailer version of Bon Voyage optimizes space utilization and mobility, furnished with various LG products, including a refrigerator, electric stove, water purifier, Styler and shoe care products. Additional showcased products included the 4K projector LG CineBeam Qube, LG gram Fold, LG XBOOM and LG StanbyME Go.

Last but not least, the ‘Sustainability’ zone highlighted LG’s efforts to create a Better Life for All through products incorporating recycled materials, such as LG tiiun mini. Also on display were LG’s sustainable home solutions, such as LG’s hydronic heating system and Home Energy Platform.

LG’s CES booth spotlighted the company’s latest innovations, not only enhancing the customer experience within homes but also extending into mobility and commercial spaces. Stay tuned for more updates on LG’s innovative products and solutions, ensuring customers continue to believe that Life’s Good.

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LG CEO and Key Executives Share Plan to Achieve ‘Future Vision 2030’ Goal

A photo of LG CEO William Cho speaking while holding a mic

Company Outlines Direction and “Break Through Limits” Management Policy
During Press Conference in Las Vegas

LAS VEGAS, Jan. 10, 2024 — LG Electronics’ (LG) CEO William Cho and key company executives introduced the strategies LG is implementing to achieve its ‘Future Vision 2030’ goal, during a press conference held for Korean media in Las Vegas, Nevada, U.S.A., on January 10.

The CEO began the proceedings by noting that LG had identified three major inflection points – electrification, servitization and digitalization – that will ultimately reshape business and the customer experience. The company aims to overcome challenges, such as persistent market and supply chain uncertainties, and accelerate growth by building a high-performance, results-oriented organization with a winning spirit.

“If 2023 was the year in which we set the direction for new changes, we will make 2024 the year in which we truly accelerate these changes,” said CEO Cho. “Future Vision 2030 is our promise to the market and to our customers, and we will strive as a company to deliver on this promise.”

Announced by the CEO last year, Future Vision 2030 is LG’s long-term goal to transform into ‘Smart Life Solution Company’ that can connect and expand the customer experience across various spaces, including home, commercial, mobility and virtual.

Strengthening Future Competitiveness Through Investment

CEO Cho set ‘Break through Limits’ as the key phrase for, and underlying philosophy of the company’s management policy in 2024. Having already established three focus areas for future growth – a non-hardware business model, B2B expansion and the development of new businesses – LG will now make an all-out effort to further refine its portfolio.

To start with, the company will maximize the potential of its future growth engines by expanding investment based on the strategic priorities of the business. This year, the company will more than double its level of investment; putting USD 8 billion* into R&D and other critical areas to strengthen competitiveness, moving forward.

High-growth and high-profit core businesses will also see larger investment in 2024. These include B2B businesses, such as vehicle components, HVAC, built-in appliances and digital signage, as well as the webOS platform business. LG will continue to invest in new businesses, such as electric vehicle (EV) charging and robotics, and has already announced plans to invest more than USD 40 billion* by 2030 to transform its portfolio for qualitative business growth.

Furthermore, beginning this year, LG will actively seek inorganic growth opportunities, such as mergers, acquisitions and partnerships, in addition to adopting strategies designed to invigorate its internal growth engines. Emphasis will also be placed on game-changing areas of technology that add customer value, such as AI and mixed reality (MR).

The CEO identified the newly established Overseas Sales and Marketing Company as a valuable asset for helping LG “break through limits.” Already playing an important role in LG’s global success, the new organization accounted for approximately two-thirds of the company’s total sales. The Overseas Sales and Marketing Company implements specialized strategies that take into consideration the unique characteristics of each region and market. Its efforts have maximized the performance of the business, worldwide, and have played a significant role in strengthening the capabilities and growth of LG’s international subsidiaries.

Achieving ‘Triple Seven’ Goals for Growth, Profit and Value

With platform-based service businesses, the B2B business and new businesses as its three, main growth engines, the company aims to reach its goal of ‘Triple Seven’: an average growth rate and operating profit of seven percent or more, as well as enterprise value that translates to an EBITDA ratio of seven.

Last year, despite a decline in market demand, the company performed impressively thanks to the growth of its B2B business. Over the past five years, the compound annual growth rate of LG’s B2B businesses has easily exceeded double digits, with the average annual growth rate of overall sales reaching around eight percent.

The Vehicle component Solutions (VS) Company has likewise emerged as a key business for LG, achieving annual sales of USD 8 billion* in its 10th year of existence. The global transition to EVs is expected to increase the demand for high-value EV parts, one of the VS Company’s core areas of expertise.

Based on the three pillars of in-vehicle infotainment (IVI), e-powertrains and vehicular lamps, the VS Company is projected to enjoy continuous, rapid growth. From 2024, it will focus primarily on securing software-defined vehicle capabilities, expanding its EV parts customer-base, and strengthening its leadership in smart lamps. To respond to the increasing number of new orders, the company will invest in boosting production capacity in Central America, South America and Europe.

The HVAC business, another important part of LG’s B2B portfolio, is growing quickly in emerging markets such as Asia and Central and South America, while in advanced markets, including Europe and North America – where demand for high-efficiency, eco-friendly products is strong – it continues to uncover new opportunities.

LG’s HVAC business aims to leverage the competitiveness of its technologically advanced components, such as motors and compressors, to expand its product lineup. After establishing a consortium for advanced heat pump research in Alaska, U.S.A., last November, LG plans to build an R&D base in Europe this year. The company also intends to broaden its business with the introduction of differentiated air conditioning products, such as the Dedicated Outdoor Air System.

Recognizing that B2B companies are impacted less directly by the economy than B2C companies, LG is actively bolstering its B2B business as a means to maintain sales and profit stability. The company has announced plans for the expansion of its B2B businesses, and is seeking to raise sales volume to more than USD 32 billion* (double the current level) by 2030 through launching a variety of new, value-added solutions.

LG will also fast-track the evolution of its overall business model, entering non-hardware areas, such as content, services and subscriptions, to complement its existing product-centric home appliance and TV companies. Leveraging the hundreds of millions of LG products already in use around the world as ‘platforms,’ the company expects to generate continuous sales and profits.

In line with this shift in business direction, the Home Entertainment (HE) Company aims to become a media and entertainment platform company and accelerate the growth of its webOS platform business. The HE Company is rapidly reinforcing the foundations of its platform business by expanding the webOS ecosystem to include smart monitors, IVI systems, and other TV makers. LG expects the webOS platform business to become one of the most potential growth engines in the near future.

The Home Appliance and Air Solution (H&A) Company, whose success is playing a preeminent role in supporting LG’s organization-wide transformation, is also developing a smart home solution business that combines services and subscriptions. The H&A Company’s ultimate goal is to deliver on its ‘Zero Labor Home, Makes Quality Time’ vision, which goes beyond home appliances to make homelife smarter and more convenient than ever.

The subscription business, encompassing ‘daily’ services that augment LG’s home appliance products, has been growing at a fast pace in South Korea. The overseas expansion of the subscription business is underway, with strategic markets in Asia the first outside of Korea to experience its many benefits.

The percentage of LG’s total sales accounted for by its non-hardware businesses – such as the webOS platform-based content and service business, and the home appliance subscription business – has more than doubled over the past five years.

Additionally, LG will aggressively promote the commercialization of intangible assets, such as its standard essential patents in critical areas of technology including communications, media, mobility and IoT connectivity. And, during its recent reorganization, the company established new business entities to commercialize its know-how in the construction of smart factories.

Moreover, LG will secure growth opportunities offering high potential and a high degree of business synergy. As a prime example, the LG NOVA will increase its startup promotion fund to more than USD 100 million by the end of 2024, enabling the company to help discover new technologies and solutions to drive future innovation, and to lead new business segments.

LG’s recently created EV charging business is emerging as a comprehensive EV charging solutions provider, boasting advanced charging units and control solutions, remote diagnosis and servicing capabilities, as well as vehicle battery diagnosis and robust manufacturing and sales infrastructure. Entering the North American market, the company has completed the construction of a charger production line in Fort Worth, Texas, U.S.A.

In the digital healthcare segment, the company is expanding its telemedicine business in cooperation with Amwell, and will also review the viability of offering services in areas such as prevention, diagnosis, post-management and recovery. In virtual reality, another promising business area, LG is preparing for the commercialization of MR devices. At the end of 2023, the company established an eXtended Reality business unit within the HE Company, and is continuing to collaborate on augmented reality solutions with various technology partners.

In addition, the company’s Chief Technology Office (CTO), which leads the development of future technologies, is conducting intensive R&D programs to strengthen business competitiveness and discover new core technologies. In particular, the CTO is focusing on eight areas of technology: software, system on chip, AI, robotics, materials and parts, standards, next-generation computing and cloud/data.

Accelerating DX Through Data-Driven Practices and Next-Gen ERP Investment

Through digital transformation (DX), LG will provide customers with F.U.N. – First, Unique and New – experiences, and further enhance its customer-centric management system.

The company is making large-scale IT investments to establish DX across the entire organization. On top of this, LG is building N-ERP, or Next-generation Enterprise Resource Planning, to seamlessly integrate and link the company’s business processes and systems. Intellytics Customer 360, a customer data platform that enables integrated management of data gathered from diverse customer contact points, will be rolled out globally from this year.

LG’s DX efforts extend beyond the innovation of the customer experience to the improvement of value chain efficiency; from purchasing and manufacturing to delivery and sales. Last year, by applying DX to each value chain, LG raised productivity and efficiency to the value of more than USD 240 million.*

Transforming Into a High-Performing Organization and Spreading ‘Life’s Good’ Values and Philosophy

When speaking with employees, CEO Cho often quotes noted American management scholar, Peter Drucker: “Culture eats strategy for breakfast.” The CEO truly believes that a strong organizational culture is essential to turning strategy into good performance.

During his ‘CEO F.U.N. Talk’ with employees last December, Mr. Cho outlined the company’s vision for 2024, which includes becoming a high-performing organization. He stated that, “To accomplish this, we need to intricately connect our mission, vision and goals, and have a relentless focus on execution.”

United under the brand promise of Life’s Good, a variety of integrated brand activities, spanning marketing, ESG and CSR, will be initiated starting this year. The company will spread the values and philosophy that underpin Life’s Good with the spirit of a brave optimist, while also infusing the brand with a youthful dynamism. A self-professed ‘brave optimist,’ LG is an innovator that daringly faces difficulties, believes in pursuing opportunities for improvement, even during tough times, and finds solutions by listening and paying attention to its customers and the market.

Visitors can experience LG’s latest innovations at its CES booth (#16008, Las Vegas Convention Center) from January 9-12. For more information on LG products unveiled at CES 2024, please view the CES 2024 Press Kit.

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* Exchange rate: KRW 1,250 per USD.

LG Captivates CES 2024 Spectators With Immersive webOS Experience Zone

Man and a woman are pointing at the large variety of content playing throughout the LG webOS zone

LG Celebrates the Decade-Long Journey of webOS With Immersive Experiences From
the Upcoming Masters of the Air on Apple TV+ and More Exciting Content

LAS VEGAS, Jan. 9, 2024 — LG Electronics (LG) welcomes visitors to the company’s booth at CES 2024 with a wealth of entertaining and dazzling experiences through the webOS zone. Building on its legacy of showstopping installations on vivid self-lit OLED displays, LG’s Home Entertainment Company continues to redefine itself as a media and entertainment powerhouse. The webOS smart TV platform breathes life into immersive visuals and inspiring narratives, aligning with the company’s visionary transformation.

Thanks to the numerous OLED displays, the attention-grabbing webOS installation engrosses visitors in the world of infinite entertainment, each moment enlivened thanks to LG OLED’s unrivaled picture quality and unique form factors. This captivating experience highlights LG’s commitment to pushing technological boundaries and providing the ultimate entertainment experience.

An invitation to explore the world of entertainment powered by webOS platform, the webOS Zone treats guests to an extensive collection of video clips from a diverse range of genres, sourced from content partners. Among the highlights is an exclusive experience of ‘Masters of the Air,’ the highly-anticipated action-packed epic series from Apple TV+, produced by Steven Spielberg, Tom Hanks and Gary Goetzman. The compelling series preview teases viewers with breathtaking visuals and an explosive, dynamic soundscape. ‘Masters of the Air’ premieres exclusively on Apple TV+ on January 26 and will be available to watch on LG Smart TVs via the Apple TV app.

With impressive visuals and spellbinding storytelling, audiences will be enchanted by the live-action reimagining of ‘The Little Mermaid’ now streaming on Disney+, a story of a beautiful and spirited young mermaid with a thirst for adventure, brought to life by filmmaker Rob Marshall. Superb cinematography on OLED displays transports viewers to the seashore, with waves gently lapping at the feet and soothing sounds of the ocean in the background.

Attendees can anticipate a mesmerizing exploration of space with exciting clips from the ‘Rebel Moon’ Netflix series, released last December, and a sneak peak of the highly anticipated series, ‘Star Trek: Discovery’ from Paramount+. Offering an enthralling glimpse into unexplored planets and otherworldly landscapes, the videos promise unprecedented encounters with intricate space battles and the cosmic frontier.

The webOS Zone also presents imaginative stories that are sure to captivate adventure lovers. Scenes from Prime Video’s ‘The Lord of the Rings: The Rings of Power’ invite spectators to step into the epic landscape of Middle-earth and feel the irresistible allure of sweeping action, harrowing journeys and the rise of one of the greatest villains of all time: the Dark Lord Sauron.

What’s more, fans of fighting games will be delighted with a clip of Tekken 8, set to be released on January 26 by Bandai Namco Entertainment and expected to be one of the best games of the genre this year.

Established in 2014, LG’s webOS platform has emerged as a global leader with its evolution into one of the most widely used smart TV platforms, with a continuously expanding user base. Boasting a compelling selection of content for LG Smart TVs around the world, the company delivers an extensive collection by maintaining valuable partnerships with more than 3,500 content providers. LG’s decade-long commitment to fostering strong relationships with streaming service partners has enhanced the home entertainment experience for millions of customers worldwide.

LG is dedicated to upholding its leadership position in the realm of viewing experiences with technological advancements and content curation. Through the ongoing evolution of webOS, LG strives to enrich lives by providing customers with infinite entertainment and endless inspiration.

LG’s awe-inspiring webOS zone will be on show at CES 2024 from January 9-12 in the company’s booth (#16008, Las Vegas Convention Center). For more information on LG products unveiled at CES 2024, please visit CES 2024 Press Kit.

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LG Showcases Latest Innovations at CES 2024

Company’s ‘Smart Life Solutions’ Offers Look Into Future Experiences to
‘Reinvent Your Future’ in Various Spaces Beyond the Home

LAS VEGAS, Jan. 9, 2024 — LG Electronics (LG) is showcasing its smart life solutions at CES 2024, extending beyond the home to various spaces including mobility and commercial environments. Under the theme of “Reinvent your future,” LG’s exhibition presents how the company will elevate customer experiences in everyday lives through its latest innovations – including the transparent and wireless 4K LG SIGNATURE OLED TV; a smart home powered by artificial intelligence (AI), Internet of Things (IoT) and communication technologies; and the mobility concept Alpha-able.

The Ultimate TV Experience With Innovative Technology and Infinite Content

The heart of LG’s booth is the world’s first transparent and wireless 4K OLED TV, the LG SIGNATURE OLED T. Visitors are greeted by a massive media art display created by combining fifteen 77-inch OLED Ts, showcasing captivating video content with perfect black levels and vibrant colors. These displays gradually transform into a transparent OLED TV, revealing a new era uncovered by OLED T. The floating appearance of the OLED TVs emphasizes the wireless transmission of video and audio signals and connection to external devices, simplifying installation and providing more freedom in interior design.

A dedicated zone highlights the LG SIGNATURE OLED T’s transparent and wireless technology, which allows the TV to exceed the constraints of space and seamlessly blend into everyday life. Serving as a TV that complements the interior design of any space, the LG SIGNATURE OLED T offers an extension of future living experiences. Additionally, the transparent screen enhances the viewing experience of media artworks by adding depth and dimensionality.

Moving on to the next zone, visitors encounter an impressive tunnel structure featuring over 140 55-inch OLED displays. This webOS experience Zone serves as a platform to showcase an extensive range of content, curated through collaborations with diverse partners. An invitation to explore the world of entertainment powered by webOS platform, the webOS Zone treats guests to an extensive collection of video clips from a diverse range of genres, including highly anticipated series, games or sports. This immersive experience invites visitors to explore and indulge in the world of webOS, offering a captivating and interactive journey.

AI Technology Enhancing the ‘Smart Life Solution’ Experience

In the smart home exhibition zone, LG presents how AI technology can enhance its future smart life solutions. The company’s AI-powered smart home utilizes various sensors to not only digitize people’s lives but also proactively detect needs as well as propose tailored solutions based on customers’ words, actions and even emotions.

For example, the non-contact sensors installed in the house can measure and digitize customers’ heart and breathing rate, analyzing their health status to automatically adjust the indoor temperature and humidity.

In the future smart home, LG ThinQ will connect sensors and IoT devices installed throughout the home, acting as a service platform that autonomously controls the devices to ensure ideal settings without the need for customer intervention.

If, perhaps, a customer brings home a new pet cat, the microphones, cameras and mmWave sensors embedded in household devices detect the furry friend’s presence, automatically asking whether to download the ‘pet mode’ on LG ThinQ UP home appliances or recommending accessory kits specifically for pets. Additionally, the sensors even prioritize energy efficiency by switching smart products in unoccupied rooms to power-saving mode or turning them off when no one is home. The sensors can even activate crime prevention mode, sending notifications through the LG ThinQ app if any unusual activity is detected.

The zone also introduces the newly unveiled smart home AI agent, which moves on its own two wheels to welcome visitors. This AI agent serves as a versatile household assistant and a smart hub, offering comprehensive support in customers’ daily lives by connecting and managing household appliances and IoT devices. Equipped with a camera, speaker and a range of home monitoring sensors, it can gather real-time data of the home environment to facilitate appliance control. Its front display allows for expressive facial expressions, actively engaging and communicating with customers.

The commercial zone showcases a variety of customized services connected under the theme of traveling in Las Vegas. One notable example is the integration of LG MAGNIT, a Micro LED Display, with facial recognition and AI advertising solutions. This combination allows for personalized advertisements to be delivered to users in various locations, such as hotels, retail spaces and transportation areas. Other scenarios include customers receiving guidance from the GuideBot at a hotel or making payments through facial recognition at a cafe.

Alpha-able, LG’s Future Mobility Concept

Going beyond the home, LG recently redefined future cars as a “personalized digital cave.” To demonstrate this concept, the company established a dedicated zone featuring Alpha-able within its exhibition space. Alpha-able serves as a tangible representation of LG’s mobility vision, offering passengers a preview of the innovative solutions they can expect to experience in the future mobility environment.

The future mobility concept aims to deliver unique customer experiences based on three themes: Transformable, Explorable and Relaxable. By transforming the car into spaces reminiscent of home or office environments, passengers can find rest or work on the go. Alpha-able utilizes cutting-edge display technologies, including rollable, flexible and transparent displays, along with LG’s unrivaled home appliance technologies and solutions, to provide Transformable experiences that adapt to passengers’ needs. Additionally, Alpha-able offers Explorable experiences by delivering tailored information and content for unique situations, as well as Relaxable experiences for passengers to unwind and enjoy some personal time.

In addition to Alpha-able, LG has also dedicated a zone to showcase its electric vehicle (EV) charging solutions, a key growth area for the company. This zone highlights LG’s EV charger and control solution called e-Centric.

Experimental yet Innovative LG Labs and Sustainable Solutions Aligned Under ESG Vision

LG also unveiled a range of new products developed through LG Labs, the company’s experimental yet innovative product and services development project focused on creating unique customer experiences.

The LG Labs zone showcases a range of innovative products, including DukeBox by LG Labs, the all-in-one audio device seeking to reinvent the depth of audio and video experience with a modernized jukebox concept; DUOBO by LG Labs, a capsule coffee machine that extracts two flavors at once; and Bon Voyage by LG Labs, a customized living space designed to extend the life quality at home to nature. In addition, the zone includes products like LG CineBeam Qube and brid.zzz by LG Labs, which offer bold and innovative approaches to elevate the customer experience.

The company also set up the Better Life for All zone, dedicated to highlighting its efforts in environmental, social and governance initiatives. A notable feature in this zone was the LG mycup, a tumbler washer that made its debut at CES. Furthermore, LG presented its sustainable home solution, leveraging the capabilities of LG’s home energy platform to optimize energy management and utilization. This comprehensive solution offers users efficient usage, easy control and the ability to distribute renewable energy.

In addition, LG presented its ‘Universal UP Kit’, a range of accessories designed to assist all users in conveniently operating LG home appliances, regardless of gender, age or disabilities. Visitors had the opportunity to experience these accessories firsthand. The company also placed a strong emphasis on accessibility for everyone through its TV accessibility experiences.

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World’s First Wireless Transparent OLED TV Redefines the Screen Experience

LG OLED T displays a snowy scene in a bedroom with a bookshelf visible behind the transparent screen

LG SIGNATURE OLED T 4K Marks the Beginning of an
Exciting New Chapter in LG’s Ongoing Legacy of TV Innovation

LAS VEGAS, Jan. 8, 2024 — LG Electronics (LG) is unveiling the world’s first wireless transparent OLED TV at CES 2024. The LG SIGNATURE OLED T is a true technological marvel, combining a transparent 4K OLED screen and LG’s wireless video and audio transmission technology to transform the screen experience in ways that have never been possible before. The OLED T unlocks a world of near-limitless potential, giving users the unprecedented freedom to meticulously curate their living spaces. This is complemented by the class-leading picture quality and performance of LG OLED, powered by the new α (Alpha) 11 AI processor. A genuine game changer, LG’s transparent OLED is the winner of five CES 2024 Innovation Awards, including a Best of Innovation honor.

LG SIGNATURE OLED T liberates users from a dominant black screen that competes with the décor in their home. Maintaining its 77-inch screen size, OLED T and its innovative transparent display seamlessly harmonizes with its environment. Practically invisible when turned off, it blends into the environment and frees users from the long-standing problem of what to do with the ‘big black screen.’ The TV’s beautiful see-through screen also helps to make one’s space feel larger, providing a sense of openness.

The unique LG OLED T brings with it many new possibilities, from where it can be placed in the room, to the kinds of user experiences that LG can now deliver.

Its transparent OLED screen removes the usual constraints that come with conventional TVs. No longer does the TV have to be placed against the wall. Instead, users can place the OLED T in the middle of the room to become a divider or prop it against the window without blocking the view outside. The included Zero Connect Box, which leverages LG’s cutting-edge wireless transmission technology to send 4K images and sound to the OLED T, also enables users to place their TV anywhere, regardless of where the electrical outlets are located in the room. With no cables between the Zero Connect Box and the OLED T, users can enjoy a clean, cable-free viewing environment.

What’s more, the modular design of the LG OLED T facilitates diverse installation methods. The OLED T comes in stand-alone, against-the-wall or wall-mount options. Customers can further customize by adding standing or floating shelves on either or both sides of the screen to best suit their unique tastes and preferences.

LG’s transparent OLED lets owners discover new forms of entertainment and use via its dual viewing experiences: transparent and opaque. The OLED T becomes a transparent digital canvas for showcasing artwork, videos or photos with the Always-On-Display (AOD) feature. Content displayed on the transparent screen appears to float in air, yet simultaneously fuses with the surrounding space to create a compelling and atmospheric visual effect. Another option is the T-Bar feature that offers a helpful info-ticker running along the lower part of the screen. The T-Bar displays news alerts, weather updates or the title of songs being played while the rest of the screen presents a clear, unobstructed view of the space behind it.

For viewing in picture perfect OLED, simply click a button to raise the contrast screen. In this way, users can instantly switch to take full advantage of LG OLED’s enhanced picture quality through the new α (Alpha) 11 AI processor with 4-times greater AI performance. This provides a 70 percent improvement in graphic performance and a 30 percent faster processing speed compared to its predecessor. OLED T offers the best of both transparent and vibrant-color screen experiences with just a click of a button.

“An incredible feat of consumer-driven innovation, LG SIGNATURE OLED T offers brand-new screen experiences plus the picture quality and performance of our award-winning OLED technology,” said Park Hyoung-sei, president of the LG Home Entertainment Company. “LG’s transparent OLED gives customers greater freedom to curate their living spaces, completely redefining what’s possible and pointing the way to an exciting future for the television industry.”

The stunning LG SIGNATURE OLED T will be on show during CES 2024 from January 9-12 at the company’s booth (#16008, Las Vegas Convention Center). For more information on LG products unveiled at CES 2024, please visit CES 2024 Press Kit.

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LG Presents Vision to ‘Reinvent your future’ With AI-Powered Innovations at LG World Premiere

LG's CEO William Cho talking in front of a big display that has the words 'LG's AI Brain'

LG CEO Redefines AI as ‘Affectionate Intelligence,’ Highlights the Technology’s Key Role
in Elevating the Customer Experience and Creating a Better Life for All

LAS VEGAS, Jan. 8, 2024 — LG Electronics (LG) today held its LG World Premiere press conference at the Mandalay Bay Convention Center in Las Vegas, Nevada, USA, introducing its new vision and exhibition theme for CES 2024, ‘Reinvent your future.’

CEO William Cho opened the proceedings by restating the company’s ambitious goal – first announced last year – to transform into a Smart Life Solution Company. Having gained a rich understanding of global consumers and their living spaces for close to seven decades, the company is now going beyond the home, expanding its business into diverse spaces including mobility, commercial and virtual. In every arena, the company aims to improve the customer experience by focusing on five key elements dubbed 3C2S: Care, Connectivity, Customization, Servitization and Sustainability.

AI Redefined as ‘Affectionate Intelligence’

In its journey to innovate and elevate the customer experience, LG has identified AI as one of the most essential enablers of success. Rather than fixating on the evolution of the technology itself, LG is dedicated to demonstrating how AI can provide tangible benefits in the real world.

The company redefined AI as “Affectionate Intelligence,” revealing a belief that AI can foster a customer experience that is more caring, empathetic and attentive.

Real-Time Life Intelligence

During the press conference, CEO Cho highlighted the unique characteristics of LG’s AI solutions, starting with its capacity to harness a wealth of data, in both scale and quality. Among the 500 to 700 million LG products currently in use worldwide, there are many smart devices equipped with AI-supported intelligent sensors that are optimized to learn and analyze users’ ‘physical’ and ‘emotional’ life patterns.

Whereas many companies rely on internet-based data to train their AI, LG has the advantage of being able to draw on ‘real life’ data gathered from billions of connected devices, encompassing LG smart products and a wide range of IoT devices. This dataset can provide valuable insight into customer-device interactions, as well as customers’ environments, behavior patterns and emotional states. This multi-faceted data can also give the company a more complete picture of its customers’ lives at home, enabling the delivery of better and smarter lifestyle solutions.

Orchestrated Intelligence With LG AI Brain

CEO Cho went on to explain the integral role played by the LG AI Brain, a powerful processing engine driven by LG’s large language model. Leveraging the company’s vast repository of user data, the AI Brain forecasts customers’ needs based on user-product interactions and contextual learning, performs advanced reasoning processes and generates optimal solutions through orchestrating the actions of physical devices.

Ultimately, this allows the company to provide intelligent services and experiences for the various spaces in customers’ lives, all delivered in a more intelligent and efficient manner, showcasing the attentiveness embedded in LG’s concept of Affectionate Intelligence.

Commitment to Responsible Intelligence

LG is acutely aware of its responsibility to employ AI in an ethical manner and is dedicated to being accountable for the impacts and consequences of its decisions and actions. The company aims to develop AI systems that benefit all users, promote safe behavior and ensure the security of all collected personal data.

Highlighting this commitment is the company’s robust data security system, LG Shield, designed to protect personal data and information at every stage of the process, from collection and storage to utilization. Dedicated to realizing Responsible Intelligence, LG aims to surpass required industry benchmarks for the implementation of AI.

In his concluding remarks at LG World Premiere, CEO Cho emphasized that LG’s approach to AI is firmly rooted in the belief that customers should have full control. He also added, “Life’s Good. This is our solid and uncompromising promise that motivates us to create a better life for our customers, even in the age of AI.”

At the event, CEO Cho was joined on stage by Jung Ki-hyun, vice president and head of LG’s Platform Business Center, and Eun Seok-hyun, president of LG Vehicle component Solutions (VS) Company, who introduced AI-based innovative technologies and strategies.

Starting with the home, vice president Jung presented a blueprint for LG’s AI-based smart home. In line with the vision to transform into a smart life solution company, the company is incorporating LG’s unique ‘Affectionate Intelligence’ technology into the ThinQ platform. Mr. Jung not only unveiled innovative new services, such as ‘ChatThinQ,’ a generative AI chatbot that enables natural conversations with customers, and ‘3D Home View,’ a 3D visualization of the home for integrated control of spaces in an intuitive way, but also revealed plans to launch a new smart home hub.

And, in mobility, the company shared its vision for cars as a ‘living space on wheels’ powered by software-defined vehicle (SDV) solutions. In line with this vision, Eun Seok-hyun, president of LG VS Company, introduced LG AlphaWare, the company’s suite of software solutions for SDV. LG AlphaWare includes versatile software modules to enhance existing vehicle operating systems and to assist in building new platforms; operation solutions to help software developers throughout the SW development process from design to deployment; in-cabin entertainment solutions that enable high definition content viewing and high quality sound; and human-machine interface solutions that utilize AR/MR and AI technologies to provide an immersive in-vehicle experience.

Visit LG’s dedicated CES site (www.LG.com/CES2024) and the LG Global YouTube channel for more information on what the company has in store for CES 2024, and to keep up with all the latest news during the event (January 9-12).

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LG Releases Preliminary Earnings for Fourth-Quarter 2023

SEOUL, Jan. 8, 2024 — LG Electronics Inc. (LG) today announced its preliminary earnings results for the fourth quarter and full-year of 2023.

LG reported an annual consolidated revenue of KRW 84 trillion, marking the third consecutive year of achieving the highest annual revenue, and an annual operating profit of KRW 3.5 trillion. These figures demonstrate a resilient business performance, approaching the results observed during the prior period of pent-up demand, despite challenges posed by delayed demand recovery from the economic slowdown as well as heightened market competition.

The historic high in annual revenue can be attributed to the robust fundamentals of LG’s core businesses and the growth experienced in B2B sectors. Notably, the compound annual growth rate (CAGR) of LG’s revenue over the last three years stands at over 13 percent. Additionally, the annual operating profit demonstrated a solid performance, reaching levels comparable to the preceding year.

LG’s effective management performance in the face of a challenging external environment is particularly noteworthy, setting it apart within the industry. Strategic efforts to enhance the business portfolio, including the early identification of market turning points to drive high growth in B2B sectors, played a pivotal role. Business model innovation, such as diversifying from hardware-oriented businesses to platform-based service business, also contributed to maintaining stable profitability.

In the home appliance & air solution business, LG is expected to have achieved an annual revenue milestone of KRW 30 trillion. Strategic market approaches, such as expanding volume zone lineups while retaining premium leadership to address demand polarization, played a key role in this success. B2B expansion in areas like HVAC, components and built-in appliances further contributed to overall growth. Going forward, LG will concentrate efforts on strengthening core competencies in product and manufacturing competitiveness, while accelerating changes in business models, including direct-to-consumer (D2C) and subscriptions, to prepare for the future. The company will also accelerate efforts to evolving its smart home solutions, reflecting the value of “Zero Labor Home,” by expanding the lineup of home appliances embedded with operating systems.

The vehicle component solutions business is anticipated to have exceeded KRW 10 trillion in annual revenue within a decade of its establishment, becoming one of LG’s core businesses. The average operating rate of production facilities has surpassed 100 percent since last year, driving growth. Starting this year, LG will intensify efforts to secure capabilities in the evolving trend of software-defined vehicles while aiming for growth in volume. Leveraging differentiation technologies accumulated in home appliances and IT, the company plans to enhance in-vehicle experiences while accelerating the efficiency and synergy of the entire business, including EV components and headlamps.

Despite challenges in key markets like Europe, the home entertainment business experienced meaningful growth in webOS content and services. This year, the expansion of the webOS ecosystem will extend beyond TVs to encompass smart monitors, in-vehicle infotainment and other areas, further broadening the business scope. From a product perspective, LG will significantly strengthen both the top-tier OLED lineup and the QNED lineup, following a dual-track strategy to lead the premium market.

The business solutions company is concentrating on the early commercialization of key areas such as EV charging and robotics. As a leader in LG’s B2B business, the segment aims to accelerate the shift from supplying single products to integrating and providing adjacent solutions. With a significant proportion of new businesses within the organization, investments are prioritized for future preparations rather than short-term management performance.

It is important to note that these figures represent tentative consolidated earnings based on the Korean International Financial Reporting Standards and are provided as a service to investors before LG Electronics releases its final earnings results. The official announcement of confirmed results, including the net profit for the year 2023 and the management performance of each Company, is scheduled for later this month.

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LG Accelerates Next-Generation Autonomous Driving and Infotainment Solution

A design illustration featuring the logos of LG and Magna alongside a vehicle on a sky background

LG’s Innovative In-Vehicle Infotainment Capabilities Combine With Magna’s Cutting-
Edge ADAS and AD Technologies in Companies’ Latest Collaboration

SEOUL, Jan. 4, 2023 — LG Electronics (LG) will hold a private demonstration for major automakers at CES 2024, introducing a new cross domain platform integrating Advanced Driver Assistance System (ADAS), Automated Driving (AD) and In-Vehicle Infotainment (IVI) technologies. Developed by LG in collaboration with Magna, a global mobility tech company, the game-changing future mobility platform is expected to arrive on the market in the near future.

Initiated in 2023, the collaboration leverages the combined technological prowess of LG and Magna, to help deliver differentiated user experiences in the vehicle cabin. The two companies have successfully integrated a cross domain cockpit computing system into a single System on Chip (SoC) representing a flexible and cost-effective solution for OEMs.

The single electronic module supports multiple IVI systems and ADAS/AD domain integration, and can efficiently handle various Automotive Safety Integrity Level (ASIL) requirements while using fewer electronic control units and taking up less packaging space. This scalable solution is ideal for the coming transition towards the Software-Defined Vehicle (SDV) and for the consolidation of its electrical/electronic architecture. The integration of functionalities into a single module enables the real-time sharing of rich data across domains.

Via a dedicated Human Machine Interface (HMI), LG’s platform can provide drivers and passengers with compelling, new experiences – and more intuitive interactions – when using advanced automotive displays, digital clusters, Augmented Reality-Head Up Displays (AR-HUD) and visualization software. Additionally, the solution can be customized to meet any OEM’s integrated communications and IVI system needs. 2027 model year vehicles are expected to be the first to benefit from this advanced technology.

“We are extremely pleased with the progress we have made on this future mobility technology,” said Eun Seok-hyun, president of LG Vehicle component Solutions Company. “LG and Magna’s joint efforts will help push the industry forward, facilitating the rapid adoption of crucial technologies that elevate driving safety and the on-road experience.”

Another successful collaboration between the two companies, LG Magna e-Powertrain unites Magna’s expertise in electric powertrain systems with LG’s capabilities in component development for e-motors, inverters and on-board chargers. Announced in 2021, the joint venture, which encompasses engineering, design and manufacturing, enables LG and Magna to proactively respond to market trends and deliver innovative solutions to fulfill customers’ evolving needs.

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More LG Smart TV Owners Set to Enjoy the Latest webOS Upgrade, Making Their TVs Feel Brand New

Photo of a man using a TV remote to browse content on the webOS platform screen

Coming to Earlier LG Smart TV Models, webOS Re:New Program Gives More Users
Access to the Elevated Home Entertainment Experience Most Recent Platform Provides

SEOUL, Jan. 4, 2024 — LG Electronics (LG) announced that it is offering the latest upgrade^* of the webOS smart TV platform to owners of older LG Smart TVs, effectively evolving their smart TV into the ultimate home entertainment hub.

In early 2024, the webOS Re:New program will bring the latest webOS upgrade to every model in LG’s 2022 OLED TV lineup, LG OLED Flex, LG OLED Objet Collection Posé as well as LG’s 2022 QNED Mini LED 8K (QNED99/95 series), promising users the joy of a new TV experience for the next five years. This upgrade will be extended to more LG TVs worldwide in the future to add more entertainment and versatility to the TV experience across the world.

With the latest version of webOS, LG Smart TV owners can enjoy an even more personalized TV experience with a Home Screen that greets users with recommendations according to their tastes. The user interface is highly customizable, which means viewers can personalize the selection of content and services and access them with even greater ease. And to make the process even more seamless, the Quick Card UI intuitively sorts diverse content and services into categories like music, games and sports within a user-centric interface that resembles mobile user interface design.

What’s more, courtesy of advanced security technology and an optimized operating system, users are protected with a high level of stability, security and seamlessness throughout the entire viewing experience.

With more LG Smart TVs adopting the latest webOS upgrade, content providers and service developers will have more opportunities to spread new content, services and features to a wider audience.

LG has shared its bold vision to become a media and entertainment platform, a business transformation that will enrich customers’ lives by delivering valuable services and a unique collection of curated content across its wide-ranging products. Powering more than 200 million LG Smart TVs worldwide, webOS will continue to evolve through significant upgrades to constantly revolutionize the customer experience. LG is poised to invest heavily in its webOS business to secure a vast library of content and services so that it can cater to the diverse lifestyles and preferences of consumers, strengthening its competitive edge in content selection and convenience.

“Demonstrated by the constant improvement to the webOS platform’s UX and UI, LG is firmly dedicated to elevating convenience and security, ensuring that users benefit from a hassle-free and secure experience when using our products,” said Baik Seon-pill, leader of the LG Home Entertainment Company’s Product Planning Division. “We strive to provide life-enriching experiences for our customers by delivering a wide range of content and services on our TVs.”

The LG Home Entertainment Company’s latest innovations will be on show at CES 2024 from January 9-12 at the LG booth (#16008, Las Vegas Convention Center). To keep up with all of LG’s exciting announcements at CES, visit www.lg.com/ces2024 and LG Global YouTube channel.

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^*Pop-up notifications offering a full upgrade without the need to select specific UX, UI or features are only sent to customers who have agreed to receive them. Please note that this upgrade does not cover the TV’s hardware performance, features or durability.

LG Styler Introduces New Era in Clothing Care Management at CES 2024

Photo of a man using a handheld high-pressure steamer attached to the LG Styler on a shirt in a dressing room

New Styler Features a Handheld, High-Pressure Steamer, the
Dynamic Moving Hanger and the Dual TrueSteam Technology

SEOUL, Jan. 3, 2024 — LG Electronics (LG) is unveiling its advanced, new LG Styler clothing care solution at CES 2024. Incorporating a handheld, high-pressure steamer, the Dynamic Moving Hanger™ and Dual TrueSteam™ technology, the latest Styler delivers faster and more effective clothes-refreshing cycles with improved drying, dehumidification and de-wrinkling performance.

A first for the LG Styler lineup, the new model features a handheld, high-pressure steamer that makes it easier to remove wrinkles from shirts and other garments, and saves the hassle of having to use a separate iron. Users can simply hang their wrinkled clothes inside the door, take out the steamer attached to the bottom of the Styler, and initiate the steam process with the press of a button. The steamer employs powerful, high-pressure steam to penetrate garments, leaving them smooth and soft, significantly reducing the need for ironing.¹ Moreover, the compact size of the high-pressure handy steamer enhances convenience and allows for easy storage inside the Styler.

Implementing the exclusive Dynamic Moving Hanger system, LG Styler can provide tailored care for various types of garments and fabrics. Unlike its predecessor – the Moving Hanger, which simply moved side-to-side for dust removal – the new system provides a delicate and powerful garment care. It boasts enhanced dust removal, deodorization,² drying and wrinkle mitigation with a twisting motion, a rotating mechanism. It also contributes to Styler’s upgraded cycles, such as the Fine Dust cycle, which twists and shakes up to 350 times per minute to remove large and fine dust particles from clothing.³

A key feature of the new Styler is LG’s Dual TrueSteam technology. Instead of a single heater, Dual TrueSteam employs two heaters to boil water and generate steam, allowing for more precise control of the steam spray’s volume and strength. The course for delicate fabrics such as silk and cashmere utilizes only one of the system’s two heaters, delivering gentle fabric care through optimized steam-flow control. Dual TrueSteam also enables the Styler’s Sanitary cycle, a specialized cycle that keeps clothes hygienically clean by eliminating over 99.99 percent of the germs and 11 different kinds of harmful bacteria.⁴

Additionally, LG’s latest clothing care solution has a built-in ventilation system to automatically circulate air throughout the room. It also offers a dehumidification function that can collect up to 10 liters of moisture⁵ from the room without opening the door of the Styler; ensuring a pleasant indoor environment and preventing clothes from becoming damp after being ‘refreshed by Styler.’

For convenient management, the new Styler’s time-saving Pants Press adopts an upgraded hanging structure that enables sharper, wrinkle-free creases. What’s more, the new Styler has an intuitive-to-use LCD touchscreen that makes course selection quick and easy.

“The new LG Styler is a versatile clothing care solution that ensures optimal care for diverse fabrics, and optimal convenience for our customers,” said Lyu Jae-cheol, president of LG Electronics Home Appliance & Air Solution Company. “The pioneer in clothing care systems, LG will continue to enhance LG Styler’s capabilities, redefining wardrobe management and making it easier than ever to keep clothes looking and smelling fresh.”

Visitors to CES 2024 from January 9-12 can experience all of LG’s latest innovations, including the new LG Styler, at the company’s booth (#16008, Las Vegas Convention Center). To keep up with all of LG’s exciting announcements at CES, visit www.lg.com/ces2024 and LG Global YouTube channel.

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¹Tested by Korea Apparel Testing & Research Institute (KATRI) using built-in high-pressure handy steamer in new LG Styler on a cotton business shirt. Visible wrinkles were reduced by 50 percent.
²Tested by Korea Apparel Testing & Research Institute (KATRI) using the Refresh cycle of the new LG Styler on a cotton business shirt according to KS K 0891:2014 standard.
³Based on LG internal test results, the revolutions per minutes (RPM) of Dynamic Moving Hanger of the new LG Styler ranges from 120 to 350 depending on the cycles. Results may differ depending on actual usages and environmental factors.
⁴ According to Intertek research, the Sanitary cycle eliminates 99.99 percent of 11 types of viruses, including influenza A viruses (H1N1, H3N2), influenza B virus, Infectious Bovine Rhinotracheitis virus (IBRV), Porcine epidemic diarrhea virus (PED), Porcine Entero A virus, Human Coronavirus OC43, Infectious Canine Hepatitis Virus, Human Rota virus, Hepatitis A virus and Rhino virus. A recent experiment conducted by KATRI also demonstrated the effectiveness of the Sanitary cycle in neutralizing bedbugs.
⁵Based on LG internal test results, the LG Styler’s dehumidification feature collects 10 liters of moisture per 24 hours, measured in an enclosed space with a temperature of 27 degrees Celsius and 60 percent humidity (LG Styler door opened at an angle of 45 degrees or greater). Dehumidification performance may vary based on the usage environment.

LG Newsroom