LG ANNOUNCES THIRD QUARTER 2010 FINANCIAL RESULTS

Home Entertainment Ships Record Number Flat Panel TVs, Home Appliance Records Consistent Growth

A picture of LG Twin Towers in the daytime

SEOUL, Oct. 28, 2010 -– LG Electronics (LG) today announced unaudited earnings results based on IFRS (International Financial Reporting Standards) for the three-month period ending September 30, 2010. Earnings reflected a strong performance in flat-panel TVs and home appliances while revenue and profit declined in mobile phones during the quarter.

Sales and Profit
LG posted consolidated third quarter 2010 revenues of KRW 13.4 trillion (USD 11.3 billion) a 2 percent decline from the same period last year (up 3 percent USD). Net profit was KRW 8 billion (USD 6.4 million) in the third quarter.

LG Home Entertainment Company shipped more flat panel TVs in the third quarter – 6.6 million units – than at any time in its history, a 37 percent increase from the same period the previous year. Home Entertainment revenues grew 9 percent in KRW (14 percent USD) from the year earlier due to improved LCD TV sales, especially in emerging markets. Sales were 5.4 trillion (4.5 billion USD) and operating profit was KRW 123 billion (USD 104 million).

LG Mobile Communications Company revenues decreased by 30 percent year-over-year (27 percent USD) as a result of a decline in handset shipments across developed markets. The company shipped 28.4 million handsets in the quarter, reflecting a 32 percent (29 percent USD) decline in sales year-over-year. The global introduction of the Optimus One smartphone and new Windows Phone 7 models are expected to generate a positive response from consumers in the coming months.

LG Home Appliance Company showed consistent performance with 9 percent (14 percent USD) growth year-over-year on sales of KRW 2.8 trillion (USD 2.3 billion) and an operating profit of KRW 67 billion (USD 57 million). Sales from overseas markets grew 17 percent (USD) from the previous year due to OEM business expansion in the North American market and peak season promotions in India and China. Continued growth is anticipated, especially in developing markets.

LG Air Conditioning Company sales increased 35 percent (42 percent USD) year-over-year to KRW 1.1 trillion (USD 0.9 billion) with significant growth in developing markets. The company will continue to invest in its B2B infrastructure – including commercial air conditioners – and new opportunities for its LED lighting and solar power businesses to generate a long-term foundation for growth.

LG Business Solutions Company results were essentially unchanged with third quarter revenues of KRW 1.2 trillion (USD 1.0 billion). Sales of car infotainment products grew due to the recovery of the automotive market. The company expects sales and profitability growth in the coming months with upcoming launches of premium monitors, commercial displays and hotel TVs.

2010 4Q Business Direction and Prospects
The company will focus on strengthening profitability through aggressive cost innovation and strategic investment management for the long-term. Stronger competitiveness in global smartphones, Nano FULL LED technology and consumer-friendly energy efficient products, combined with anticipated strong sales during the holiday season, are expected to contribute to the company’s overall performance in the future.

2010 3Q Exchange Rates Explained
Amounts in Korean Won (KRW) are translated into US Dollars (USD) at the average rate of the three month period in each corresponding quarter: KRW 1,185 per USD (2010 3Q) and KRW 1,241 per USD (2009 3Q).

Earnings Conference and Conference Call

LG Electronics will hold a Korean-language earnings news conference on October 28, 2010 at 16:30 Korea Standard Time at the LG Twin Tower Auditorium (B1 East Tower, 20 Yeouido-dong, Yeongdeungpo-gu, Seoul, Korea). An English-language conference call will follow on October 29, 2010 at 10:00 Korea Standard Time (02:00 GMT/UTC). Participants are asked to call +82 2 6677 3356 and enter the passcode 51029. The corre-sponding presentation file will be available for download at the Investor Relations sec-tion of the LG Electronics website (http://www.lg.com/global/ir/reports/earning-release.jsp) at approximately 13:00 Korea Standard Time on October 28. Please visit http://pin.teletogether.com/eng/ and pre-register with the passcode provided. For those unable to participate, an audio recording of the news conference will be available for a period of 30 days after the conclusion of the call. To access the recording, dial +82 2 6677 3358 and enter the passcode 279432 at the prompt.

 

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About LG Electronics, Inc.
LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing more than 80,000 people working in over 115 operations around the world. With 2009 global sales of 55.5 trillion Korean Won (43.4 billion US Dollars), LG comprises of five business units – Home Entertainment, Mobile Communications, Home Appliance, Air Conditioning and Business Solutions. LG is one of the world’s leading producers of flat panel TVs, audio and video products, mobile handsets, air conditioners and washing machines. LG has signed a long-term agreement to become both a Global Partner of Formula 1™ and a Technology Partner of Formula 1™. As part of this top-level association, LG acquires exclusive designations and marketing rights as the official consumer electronics, mobile phone and data processor of this global sporting event. For more information, please visit www.lg.com.

Media Contact
Seye Im
LG Electronics Corporate Communications
82 2 3777 3631
lgpr@lge.com
www.lgnewsroom.com

LG DOES THE BUSINESS WITH ITS NEW E10 LED MONITORS

A front view of the LG E10 monitor series

Designed with Convenience, High Energy Efficiency and Cost Savings in Mind,LG’s E10 Series is a Perfect Fit for Office Environments

Seoul, Oct 20, 2010 –- LG Electronics (LG) today unveiled its new LED monitor series, the E10, which is specifically designed to cut costs and to increase efficiency and productivity in the workplace.

The E10 series brings cost savings and economic value through more efficient energy consumption, while its ergonomic design and eco-friendly technology help improve the office environment. Better still, a wide range of monitor sizes and features make it possible for businesses to select the model that is best-suited to their specific needs.

“We’ve seen a marked increase in demand for practical business products, and LG’s new E10 series is a direct response to this,” said Brian Kwon, Vice President of LG Business Solutions Company. “As ever, customer desires and needs are what drive new product creation at LG, and they will continue to be the key factor for us at the Business Solutions Company.”

Effective Monitors, Smarter Work
The E10 series includes a range of technologies that put a premium on users’ economic and environmental concerns. In line with LG’s overall eco-friendly policies, E10 monitors consume up to 40 percent less energy than conventional LCD monitors. This technical feat has earned the E10 series Green IT Certification Gold from EPEAT, an environmental ratings agency, and ratings of EPA 5.0 from the United States’ Environmental Protection Agency, as well as the 5.0 rates of TCO from Total Cost of Ownership Development, owned by the Swedish Confederation of Professional Employees. And as well as being environmentally conscious, this energy efficiency means much lower bills for users, too.

Also buttressing the E10 series’ eco-credentials, the E10 uses no halogen or mercury, ensuring a healthy environment for users who spend long stretches of time parked in front of their monitors. And thanks to the E10 series’ ergonomic design, users can maintain the correct posture by pivoting the screen and adjusting its height and tilt to their exact requirements.

Convenient Functions for Better Working Conditions
A true trailblazer in business-friendly monitors, the E10 series includes a host of other excellent functions for the workplace. On the stand, space-saving factors ensure the monitor fits well into any space; a “Keep the Stationary” slot has been carved out on the base of the stand to hold pens and other small stationary; and a built-in speaker also ensures the monitors take up no more room than is necessary. What’s more, thanks to their narrow bezel, E10 monitors can be lined up together to form multi-vision screens.

In addition, the clear images of E10 monitors – delivered via a mega contrast ratio and 250nits of brightness – ensure eye strain is kept to a minimum. And thanks to the monitors’ wide-viewing angle, it’s easy to watch and share on-screen content with coworkers.

LG’s new E10 monitor series will be available according to region. Please check your local office near for further details.

LG DOES THE BUSINESS WITH

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About LG Electronics, Inc.
LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing more than 80,000 people working in over 115 operations around the world. With 2009 global sales of 55.5 trillion Korean Won (43.4 billion US Dollars), LG comprises of five business units – Home Entertainment, Mobile Communications, Home Appliance, Air Conditioning and Business Solutions. LG is one of the world’s leading producers of flat panel TVs, audio and video products, mobile handsets, air conditioners and washing machines. LG has signed a long-term agreement to become both a Global Partner of Formula 1™ and a Technology Partner of Formula 1™. As part of this top-level association, LG acquires exclusive designations and marketing rights as the official consumer electronics, mobile phone and data processor of this global sporting event. For more information, please visit www.lg.com.

About LG Electronics Business Solutions Company
LG Electronics Business Solutions Company is the leading providers of business solutions, creating optimal products for companies and individuals. LG offers innovative products, LED LCD monitors, commercial displays, security solutions and car infotainment systems, as well as integrated solutions that take advantage of LG’s expertise in hardware, software, content and systems, and are tailored to the particular needs of different business environments.

Media Contact
Seye Im
LG Electronics Corporate Communications
82 2 3777 3631
lgpr@lge.com
www.lgnewsroom.com

LG RAISES THE BAR IN EUROPE WITH MULTI V III, ITS MOST ADVANCED COMMERCIAL HVAC SOLUTION

A line of three LG Multi V III commercial air conditioners

Company Targeting USD10 Billion in Global Sales by 2014

 

Seoul, Oct. 15, 2010 -– LG Electronics (LG) today unveiled its new Multi V III commercial air conditioner in Europe, targeting large-scale facilities such as commercial buildings, office complexes and retailers. The third generation of the popular Multi V series, the new air conditioner will be LG’s flagship product in Europe, where demand for energy-saving technology is growing fast.

The launch of the Multi V III, the company’s most advanced commercial HVAC solution, is a central part of LG Air Conditioning Company’s plan to secure USD 10 billion in global sales by 2014. With its advanced efficient heating system, the Multi V III is expected to gain significant market share throughout Europe.

The Multi V III boasts three key consumer benefits; energy efficiency, larger capacity and longer piping design. The unit’s energy efficiency, boosted by LG’s unique V-Scroll inverter compressor and HiPORTM (High Pressure Oil Return) technology,  delivers a COP (coefficient of performance) level  of 4.6, one of the highest in the industry. LG’s new Multi V III can help building owners reduce their operational costs while still providing reliable heat in extremely cold regions.

Another advanced feature of the Multi V III is its continuous heating system, which maintains a pleasant indoor temperature without heat loss from defrosting. In addition, with an increased piping length of 1,000m, 20HP capacity per unit (with a maximum of 80HP with four connected units) and smaller space requirement, the Multi V III is easy and efficient to install and maintain.

“As a company with a strong focus on producing products with energy efficiency, we feel that the Multi V III addresses all the major HVAC requirements of businesses in Europe,” said Hwan-yong Noh, CEO of LG Air Conditioning Company. “With this product, we are in a strong position to work with our European dealers and business partners to make LG the leading provider of HVAC solutions.”

The Multi V III will be available from October in markets including France, Germany, Italy, Spain and Portugal. Availability outside of Europe will be announced at a later date.

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About LG Electronics, Inc.
LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing more than 80,000 people working in over 115 operations around the world. With 2009 global sales of 55.5 trillion Korean Won (43.4 billion US Dollars), LG comprises of five business units – Home Entertainment, Mobile Communications, Home Appliance, Air Conditioning and Business Solutions. LG is one of the world’s leading producers of flat panel TVs, audio and video products, mobile handsets, air conditioners and washing machines. LG has signed a long-term agreement to become both a Global Partner of Formula 1™ and a Technology Partner of Formula 1™. As part of this top-level association, LG acquires exclusive designations and marketing rights as the official consumer electronics, mobile phone and data processor of this global sporting event. For more information, please visit www.lge.com.

About LG Electronics Air Conditioning Company
The LG Electronics Air Conditioning Company is a global total heating, ventilation and air conditioning (HVAC) and energy solution company providing Residential Air Conditioning (RAC), Commercial Air Conditioning (CAC), Solution, Solar Energy and Lighting around the world. LG AC offers a wide range of products from consumer and individual units to industrial and specialized B2B solutions. Through its innovative technology, heavy investments in R&D and superb marketing strategies, LG has broken its own sales records every year since 2000, thus cementing its place as the global leader of the HVAC industry.

Media Contacts
Nanako Kato
LG Electronics Corporate Communications
+822 3777 3918
lgpr@lge.com
www.lg.com/press

PRESIDENT NASHEED PANEL INSTALLATION

LG Electronics (LG) announced today that its donated solar modules were installed on the official residence of the president of the Maldives as part of a major global effort to fight climate change. LG’s effort is part of the 10/10/10 Project, a worldwide effort coordinated by 350.org, an international environmental organization, to reduce greenhouse gases. The panels were installed on the president’s official residence, Mulee Aage Palace, on October 7, the same week US President Barack Obama’s office announced plans to install solar panels on the White House by early next year.

MALDIVES PRESIDENT GOES SOLAR WITH HELP FROM LG

Mohamed Nasheed, president of the Maldives, helps install one of LG’s solar panels on the roof of the president’s official residence, Mulee Aage Palace.

 

LG Partners with Government, NGO in Environmental Initiative to Combat Global Warming

 

SEOUL, Oct. 7, 2010 –- LG Electronics (LG) announced today that its donated solar modules were installed on the official residence of the president of the Maldives as part of a major global effort to fight climate change. LG’s effort is part of the 10/10/10 Project, a worldwide effort coordinated by 350.org, an international environmental organization, to reduce greenhouse gases. The panels were installed on the president’s official residence, Mulee Aage Palace, on October 7, the same week US President Barack Obama’s office announced plans to install solar panels on the White House by early next year.

“It is a tremendous honor to be part of this campaign to demonstrate how the private and public sectors can work together with NGOs to help raise awareness of the critical issue of global warming,” said Hwan-yong Noh, CEO of LG Air Conditioning Company. “The Republic of Maldives has been at the forefront of the movement for nations to take more responsibility for the environment so it’s a fitting location to demonstrate the role renewable energy can play in our lives.”

An established leader in consumer electronics and appliances, LG is also a growing player in total energy solutions, which employs the latest in energy-saving technologies, such as solar and LED lighting, to make buildings and spaces as eco-friendly as possible.

Mulee Aage Palace has been fitted with 48 of LG’s 240W modules, enough to produce 11 kilowatts (kW) of solar power, whereas solar systems in an average household will provide between 3 and 5kW of power. It is expected that the system will save Mulee Aage more than $300,000 over the lifecycle of the solar panels.

The Maldives already suffers from water shortages and the erosion of its seashore, two phenomena widely attributed to climate change. Over the last century, sea levels surrounding the island nation have risen about 20 centimeters, threatening the existence of the Maldives, already one of the lowest countries in thee world at only 1.5 meters above sea level. President Mohamed Nasheed, the country’s president and an outspoken environmental campaigner, has long urged world leaders to adopt stronger measures against climate change, and holds the title for hosting the first underwater cabinet meeting in the world to draw attention to the dangers of global warming.

 

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About LG Electronics, Inc.
LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing more than 82,000 people working in over 115 operations around the world. With 2009 global sales of 55.5 trillion Korean Won (43.4 billion US Dollars), LG comprises of five business units – Home Entertainment, Mobile Communications, Home Appliance, Air Conditioning and Business Solutions. LG is one of the world’s leading producers of flat panel TVs, audio and video products, mobile handsets, air conditioners and washing machines. LG has signed a long-term agreement to become both a Global Partner of Formula 1™ and a Technology Partner of Formula 1™. As part of this top-level association, LG acquires exclusive designations and marketing rights as the official consumer electronics, mobile phone and data processor of this global sporting event. For more information, please visit www.lg.com.

About LG Electronics Air Conditioning Company
The LG Electronics Air Conditioning Company is a global total heating, ventilation and air conditioning (HVAC) and energy solution company providing Residential Air Conditioning (RAC), Commercial Air Conditioning (CAC), Solution, Solar Energy and Lighting around the world. LG AC offers a wide range of products from consumer and individual units to industrial and specialized B2B solutions. Through its innovative technology, heavy investments in R&D and superb marketing strategies, LG has broken its own sales records every year since 2000, thus cementing its place as the global leader of the HVAC industry.

 

Media Contacts
Nanako Kato
LG Electronics Corporate Communications
+822 3777 3918
lgpr@lge.com

LG’S FIRST LED IPS MONITOR OFFERS PERFECT BRAND OF ADVANCED LED AND IPS

SEOUL, Oct. 5, 2010 – LG Electronics Business Solutions (LG) today introduced its new LED IPS monitors, the IPS1 and IPS6 series, that combine IPS and LED, two technologies in which LG is already an established leader. The IPS1 and IPS6 series boast exceptionally real colour, high uniformity of brightness and truly dazzling picture quality.

“LG has been a pioneer and leader of IPS panel development and we’re excited to have applied this new technology so successfully to our new monitors,” said Brian Kwon, Vice President of LG Business Solutions Company. “With advantages from both of these advanced technologies, LG’s IPS monitors will take the monitor industry in exciting new directions.”

Realistic Colour, Stable Brightness, Brilliantly Vivid

An alchemic convergence of IPS and LED, the new IPS1 and IPS6 monitor series deliver supremely advanced monitor picture quality without any colour shift along with a wide viewing angle. Answering the need for the premium panel of the market, LG’s new LED IPS monitor uses IPS panel instead of TN  to overcome the limit of viewing angle and provide a real colour.

As a leader in the emerging IPS technology -– which has been drawing increasing attention for its ability to reduce eye fatigue -– LG has been able to harness all the advantages of IPS and use them in its IPS monitor series. Using premium IPS panels, LG’s IPS1 and IPS6 monitors provide stable colour and a high uniformity of brightness at any viewing angle, making them ideal for editing video and graphics, as well as watching movies or playing games. The IPS6 series also boasts a low GtoG response time difference, meaning viewers will feel less eye fatigue even when watching for long periods.

What’s more, LG’s LED IPS monitors have all the advantages from LG’s original LED monitor technology -– pictures greatly enhanced by a mega contrast ratio, a complete lack of harmful substances, and a significantly slimmer depth than on regular LCD monitors.

At the same time, the IPS1 series boasts enhanced colour accuracy making it the perfect choice for graphic designers.

Energy Efficiency with Premium Design

The new monitors’ advantages continue to stack up with their high energy efficiency, resulting in cuts in energy use of up to 27 percent compared with other models. In recognition of their efficiency, the IPS6 monitors have EnergyStar Certification.

Developed with consumers in mind, the IPS6 series boasts a slim and sleek design, with a depth of just 19.5mm on 20-23 inch screens, that makes it a delight to look at. A gorgeous transparent neck with distinctive colouring and a wine glass shape accentuate the stylish, upscale appearance. And as a final touch, the monitors boast a 3D power knob with an arresting silver-chrome finish.

Specifically designed for the office, the IPS1 series boasts an ergonomic design that makes it ideal for using at work. Its 110mm height-adjustable stand, which can pivot, tilt and swivel, enables users to adjust the direction of the monitor screen to their convenience. Also, with its built-in hidden speakers, the IPS1 takes up the minimum of space on office desks.

A new type of premium monitor with all the advantages of LED and IPS technologies, LG’s brand new IPS1 and IPS6 monitor series will be available from.

Specifications:

 IPS206T

IPS226V

IPS236V

  Panel

IPS, LED BLU

IPS, LED BLU

IPS, LED BLU

Screen Size

20W

21.5W

23W

Native Resolution

1600 x 900

1920 x 1080

1920 x 1080

Brightness

(cd/m2, Typ.)

250

250

250

Contrast Ratio (DFC)

5000000:1

5000000:1

5000000:1

Viewing Angle (Ver./Hor.)

178/178

178/178

178/178

Response Time

(G to GBW)*

6ms

6ms

6ms

PC Interface

D-sub, DVI-D

D-sub, DVI-D, HDMI

D-sub, DVI-D, HDMI

Control Key

Front (Touch)

Front (Touch)

Front (Touch)

Speaker

No

No

No

Stand

Simple

Simple

Simple

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LG AND MICROSOFT ENTER INTO STRATEGIC PARTNERSHIP: LG NETWORK MONITOR TO ADDRESS NEW COMPUTING SCENARIOS

Kwon Soon-hwang, president and CEO of Business Solutions company at LG, and Steve Guggenheimer, corporate vice president of the OEM division at Microsoft, sign up for the strategic partnership

 

With Microsoft Windows MultiPoint Server and RemoteFX , LG targets B2B Markets

 

SEOUL, Sep. 30, 2010 –- LG Electronics (LG) and Microsoft today signed a license agreement to collaborate on the development and marketing of the LG Network Monitor1, a multi computing solution with Windows MultiPoint Server (WMS) and RemoteFX. This signifies an important milestone for the two companies and their joint efforts to advance integrated network monitor solutions in centralized desktop computing environment.

Under the agreement, LG will introduce a new line of Network Monitor with RemoteFX in mid-2011, placing LG at the center of the fast-growing B2B cloud computing market. The strategy will also allow LG to significantly expand its presence into enterprise and mid-markets in order to address customer needs for session virtualization and VDI (Virtual Desktop Infrastructure).

Soon Kwon, President and CEO of LG Electronics Business Solutions Company, said: “With Microsoft’s unrivaled background in OS development and LG’s proven multi computing technology, this collaboration will help LG expand its monitor solutions and position LG as a leader in the business cloud computing market.”

“LG’s support of the Windows platform and continued advancements in their integrated network monitors will drive new computing experiences into enterprises looking at virtualization,” said Steve Guggenheimer, Corporate Vice President of the OEM Division at Microsoft. “We look forward to continued collaboration with LG and the evolution of monitors into centralized computing environments.”

LG’s Network Monitor will use Microsoft’s WMS 2010 which will allow schools to provide more students with individualized Windows experiences at lower total cost of ownership. In addition, LG Network Monitor working with Microsoft WMS 2010 is designed to be simple enough for a teacher without technical skills to set-up and manage student stations. For multilingual needs, each student can also work independently on a Network Monitor connected to a WMS host in a different language.

One of the major sectors for LG’s Network Monitor is education, a market that is expected to grow to 20M units (per seat) by 2015. LG will aggressively pursue opportunities for its Network Monitor using WMS 2010 in the global education solutions market, with a goal of capturing 25 percent of the market by 2012 to become the industry leader.

LG and Microsoft are also teaming up to develop an integrated Network Monitor with RemoteFX functionality. As the RemoteFX platform gains significantly enhanced security and management functions, its use in conjunction with LG’s advanced Network Monitor technology will enable LG to expand its monitor solutions to cloud computing in the enterprise market. Cloud computing is virtual-based computing which allows users to access the exact infrastructure, platform and software services they need via the internet in a market expected to grow 1.2M units by 2012.

 

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About LG Electronics, Inc.
LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing more than 80,000 people working in over 115 operations around the world. With 2009 global sales of 55.5 trillion Korean Won (43.4 billion US Dollars), LG comprises of five business units – Home Entertainment, Mobile Communications, Home Appliance, Air Conditioning and Business Solutions. LG is one of the world’s leading producers of flat panel TVs, audio and video products, mobile handsets, air conditioners and washing machines. LG has signed a long-term agreement to become both a Global Partner of Formula 1™ and a Technology Partner of Formula 1™. As part of this top-level association, LG acquires exclusive designations and marketing rights as the official consumer electronics, mobile phone and data processor of this global sporting event. For more information, please visit www.lg.com.

About LG Electronics Business Solutions Company
LG Electronics Business Solutions Company is the leading providers of business solutions, creating optimal products for companies and individuals. LG offers innovative products, LED LCD monitors, commercial displays, security solutions and car infotainment systems, as well as integrated solutions that take advantage of LG’s expertise in hardware, software, content and systems, and are tailored to the particular needs of different business environments.

Contact Details
Seye Im
LG Electronics, Inc.

Corporate Communications
+822 3777 3631
seye.im@lge.com
www.lg.com/press

LG ELECTRONICS APPOINTS NEW EXECUTIVES

Incoming Vice Chairman Koo Names New Heads of TV, Mobile, R&D

 

SEOUL, Oct. 1, 2010 –- LG Electronics (LG) announced today the appointment of new executives to lead its Home Entertainment and Mobile Communications companies, effective immediately.

Incoming LG Electronics Vice Chairman Bon-joon Koo tapped Executive Vice President Havis Kwon to lead the company’s Home Entertainment (HE) Company and current head of mobile R&D, Dr. Jong-seok Park, to head-up LG’s Mobile Communications (MC) Company.

Havis Kwon, 55, has led Home Entertainment’s LCD TV division since 2007. He first joined LG Electronics (then GoldStar) in 1980. During Mr. Kwon’s tenure, LG became the second largest flat-panel TV company in the world. In addition to TVs, Mr. Kwon has held executive positions overseeing LG personal computer products as well. He graduated from Korea University in 1981 with a Bachelor’s Degree in electrical engineering.

 

Jong-seok Park, 52, is a 30-year veteran of LG Electronics and previously headed LG’s mobile phone R&D operations. Mr. Park also has 17 years of experience in digital TV research and development. A graduate of Seoul National University and Korea Advanced Institute of Science and Technology (KAIST), Mr. Park received his M.B.A. from McGill University in Canada and a Ph.D. in electrical engineering from University of Florida, U.S.A.

 

Dr. Skott Ahn, formerly President and CEO of LG’s MC Company, will take over the role of Chief Technology Officer (CTO) while Dr. Woo Paik, the outgoing CTO, takes on a newly-created role at LG responsible for identifying and developing new business aligned with technology.

# # #

 

About LG Electronics, Inc.
LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing more than 80,000 people working in over 115 operations around the world. With 2009 global sales of 55.5 trillion Korean Won (43.4 billion US Dollars), LG comprises of five business units – Home Entertainment, Mobile Communications, Home Appliance, Air Conditioning and Business Solutions. LG is one of the world’s leading producers of flat panel TVs, audio and video products, mobile handsets, air conditioners and washing machines. LG has signed a long-term agreement to become both a Global Partner of Formula 1™ and a Technology Partner of Formula 1™. As part of this top-level association, LG acquires exclusive designations and marketing rights as the official consumer electronics, mobile phone and data processor of this global sporting event. For more information, please visit www.lg.com.

Contact Details
Ken Hong
LG Electronics, Inc.

Corporate Communications
+822 3777 3626
ken.hong@lge.com
www.lg.com/press

 

Nanako Kato
LG Electronics, Inc.

Corporate Communications
+822 3777 3918
nanako.kato@lge.com
www.lg.com/press

LG CELEBRATES “THE WORLD ON YOUR TABLE” AT THE LIFE TASTES GOOD CHAMPIONSHIP GLOBAL FINAL

Together with the Seoul Metropolitan Government,

LG Salutes Global Culinary Culture through Its New Line of Cooking Appliances

SEOUL, Sep. 30, 2010 -– LG Electronics (LG) held its third Global Final of the Life Tastes Good Championship (LTGC), its annual contest for amateur chefs in Seoul, Korea on September 29. A total of 25 teams comprised of 40 chefs from around the world showed off their home cooking skills using LG’s latest cooking appliances, making this the biggest LTGC Global Final ever.

Under the theme of “The World on Your Table”, participating chefs who won national and regional titles in 22 countries across the all continental from North America, South and Central America, Europe, the CIS and Asia to MEA created a range of unique savory dishes with ovens equipped with LG’s latest Lightwave Technology. Caroline Boutoille from France, who produced barbecued pork tenderloin with rosemary, mashed cauliflower and broccoli meal, frozen vegetables, red pepper emulsion, picked up the LG Global Grand Master Chef Prize and received the LG LTGC Global Final 2010 Trophy, an LG Lightwave Oven and voucher for an F1 Abu Dhabi Grand Prix Package.

This year, LG joined hands with the Seoul Metropolitan Government to co-host the LTGC and a series of four-day culinary programs that lasted from September 27 to 30. The aim was to support the city’s greater effort to raise awareness and promote further understanding of Korean cuisine to further accelerate its globalization. Guests from around the world not only were inspired by the enlightening presentations by Guy Martin, a Michelin-starred-chef from France, and Korea’s own Edward Kwon, both members of this year’s LTGC Chef Board, but also had the exciting opportunity to witness and taste some of the world’s extraordinary culinary creations by these top celebrity chefs that captivated both the palate and the eyes.

The professional and amateur chefs relied on LG’s innovative cooking appliances to create their culinary miracles. Guy Martin amazed the crowd by showcasing the Guy Martin Signature Line, a series of 80 pre-programmed recipes on LG’s MontBlanc,  built-in oven, while LTGC contestants showed off their cooking skills using LG’s new Lightwave Oven which delivers healthier, tastier cooking. LG cooking appliances bring more smiles to the kitchen by enabling home chefs to easily deliver “The World on Your Table” at chef quality.

“This year’s Life Tastes Good Championship was yet another huge success, bringing The World on Your Table to life through LG’s latest and innovative cooking appliances,” said Young-ha Lee, President and CEO of LG Electronics Home Appliance Company. “LG will spare no effort in enriching people’s lives around the world by developing cutting-edge cooking appliances with smarter technologies and continuing to improve this annual event with different themes every year.”

The show came to an end with the announcement of USA as the venue for the next LTGC global final and lively conversation and uplifted smiles lingering for a long time.

 

For more information: www.lg.com/cooking

 

Two chefs and one LG executive pose at the front of the stage with the LG microwave and cooking oven

 

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About LG Electronics, Inc.
LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing more than 80,000 people working in over 115 operations around the world. With 2009 global sales of 55.5 trillion Korean Won (43.4 billion US Dollars), LG comprises of five business units – Home Entertainment, Mobile Communications, Home Appliance, Air Conditioning and Business Solutions. LG is one of the world’s leading producers of flat panel TVs, audio and video products, mobile handsets, air conditioners and washing machines. LG has signed a long-term agreement to become both a Global Partner of Formula 1™ and a Technology Partner of Formula 1™. As part of this top-level association, LG acquires exclusive designations and marketing rights as the official consumer electronics, mobile phone and data processor of this global sporting event. For more information, please visit www.lg.com.

About LG Electronics Home Appliance Company
The LG Electronics Home Appliance Company is an innovator in the home appliance industry, dedicated to offering healthier and greener products, blending smart technology and trend-setting design and providing a complete solution for improving daily life. LG’s insightful products, including refrigerators, washing machines, dishwashers, cooking appliances, vacuum cleaners, and built-in appliances, are designed to resonate with consumers around the world. LG’s innovative technologies and convenient features, including the world’s first interactive refrigerator, steam washing ma-chine and combination oven and microwave, set new trends in the appliance industry, helping to establish LG as a global leader

Media Contact:
LG Electronics, Inc.
Corporate Communications
Nanako Kato
+822 3777 3918
Nanako.kato@lge.com
www.lge.com/press

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