Key Elements of LG's Bold Vision to Transform LG Into 'Smart Life Solution Company'

Key Elements of LG’s Bold Vision to Transform LG Into ‘Smart Life Solution Company’

LG CEO announcing the company's future vision

Company Pursues New Growth Engines,
Enhancing Customer Experience at Every Contact Point

LG will innovate with a platform-based service business model that continuously generates profits, such as content and services, subscriptions and solutions, to the hardware-oriented businesses, which generate sales and profits at the time of purchase. This is part of the company’s attempt to create a business model centered on customer engagement, combining services with hundreds of millions of LG devices used by customers around the world.

To start, as of the end of this year, LG’s TV business is projected to make a great transformation based on its webOS operating system, which powers more than 200 million smart TVs around the world. In line with this, the company intends to transform its TV business portfolio into a “media and entertainment service provider” by expanding content, services and advertisement in products, including LG OLED and LG QNED TVs, which have differentiated competitiveness.

The company will invest more than KRW 1 trillion over five years to strengthen the content competitiveness and drive growth of LG Channels – an advertising-based free broadcast platform. LG Channels increased from 20 million users in 25 countries last year to 48 million users in 29 countries this year. To achieve quantitative growth, LG will expand customer contact points by increasing the supply of the webOS platform to external TV brands and expand the application of webOS to other product groups.

Household appliances are also speeding up the transformation of service-based portfolios. The goal is to further evolve LG ThinQ UP appliances that upgrade functions customers need even after purchase and evolve into a “Home as a Service” platform that combines hyper-personalization, subscriptions and smart home services. LG ThinQ will support the emerging home solutions business that encompasses the entire house by adding services that customers need in the home complementing connected devices.

The home appliance rental and care service business is also expanding to include all services necessary for spaces in the house, including product maintenance, management and cleaning. The compound annual growth rate of LG’s rental and care service sales has exceeded 30 percent over the past five years.

Accelerating the expansion of its B2B businesses, the company aims to evolve its electric vehicle (EV) business into a top electric component part provider worth more than KRW 20 trillion by more than doubling sales by 2030. Responding to trends, such as vehicle electrification and connected services, LG is actively seeking new opportunities in future mobility areas, such as autonomous driving, software solutions and content. The order backlog of LG’s Vehicle component Solutions Company is expected to reach KRW 100 trillion by the end of the year, showing the competitiveness of the business.

By 2030, LG aims to double sales for its heating, ventilation and air conditioning (HVAC) business and become a global top-tier comprehensive air conditioning company. The company also plans to discover inorganic strategies, such as completing mergers and acquisitions and making equity investments. The company is establishing a localized business structure that covers research and development, production, sales and maintenance of air conditioning projects in major regions such as North America and Europe. Also, LG will preemptively prepare for the future in energy service sectors, such as energy storage systems, home energy management systems and virtual power plants.

In the case of built-in home appliances, the company will expand markets in North America and Europe, which account for more than 70 percent of the global market and foster LG to become one of the top five built-in appliance brands. Commercial displays provide customized solutions for each specific customer group and secure growth momentum.

Over the past two years, considering market conditions and evolving business model strategies, the company boldly exited its mobile phone and solar panel businesses and, instead, focused resources on future high-growth areas. In the future, LG plans to accelerate future development by selecting and concentrating on new businesses that are expected to have similarly high growth potential.

The company is also continuing its strategic investment in digital healthcare, a key focus of the North American Innovation Center known as LG NOVA based in Silicon Valley, California. The scale of investment in LG NOVA is also on the rise. Among other LG NOVA-led initiatives, LG is providing remote medical treatment solutions in North America through the partnership with Amwell, a U.S. telemedicine company. In the future, the company will consider expanding its services through strategy investment to preventative and follow-up management.

LG’s EV charging business has an aim to provide an integrated solution that encompasses the control area, not just the sales of chargers. The company recently launched four products in South Korea through its affiliate company HiEV Charger and will expand markets to Europe and Asia next year. LG also plans to start building additional production bases within the year to target the North American market.

The company is also establishing a wide range of strategic collaborations in the metaverse. Mixed Reality devices are continuously being developed jointly with leading global platform companies, while the development of Augmented Reality devices is underway at the Korean Ministry of Science and ICT’s project to advance the development of AR Glass Advancement and the building of content production ecosystem. Various efforts are also being made to provide a more immersive experience on large screens, such as TVs.

Breaking Business Limitations via Full Potential Strategy

LG has been operating a company-wide task force to preemptively respond to changes in the business environment. The task force aims to not only reduce short-term costs but also promote fundamental changes in business structure and methods to maximize business potential, securing suitable profit levels and promoting sustainable growth despite prolonged economic uncertainty.

These efforts have contributed greatly to LG’s performance as well. The company’s sales and operating profit in the second quarter of 2023 were the highest ever for the second quarter. In the first half of 2023, the company recorded the second highest sales ever and the third highest operating profit. These tangible results were achieved by improving the fundamentals of the business despite the prolonged slump in global demand.

LG believes that, in order to innovate the customer experience (CX), a company needs to advance digital transformation (DX) as it is essential to have a data-based understanding of customers to reflect hidden needs – which customers may not be aware of – in products and services. In this regard, the company is making efforts to combine CX and DX to make a business model to better communicate with customers by establishing various points of contact, provide a never-before-seen CX, build organizational capabilities to research and plan differentiated CX and innovate experiences throughout the customer experience journey.

To expand customer contact points, LG will strengthen direct-to-consumer (D2C) sales through LGE.com, the company’s online brand shop, and increase operation of pop-up stores to interact with the younger generation, including Gen Z. The number of visitors of pop-up stores throughout Korea since last year adds up to 600,000.

To plan and develop new products, the company actively utilized systems internally to understand customers based on data and discover hidden needs. This includes “Lifegraphy,” a customer data analysis system, and “IC 360 (Intellytics Customer 360),” a company-wide platform that integrates and manages customer data collected from all customer contact points.

In addition, in terms of organizational capabilities, LG is defining and applying its core customer experiences to products and services through customer behavior research led by the CX Center. The company is actively making changes in customer-centric working methods, with employees voluntarily participating in campaigns to define ‘customers’ and ‘customer value.’

Spreading Change Across Organizational Culture and Brand to Business Strategy

Internally, REINVENT LG, an organizational culture innovation campaign, was put in place to change the way of working and communicating at LG. By doing this, the company hopes to reinvent the brand by having employees lead changes themselves.

Transformations have also been made to bring a dynamic and youthful look to the brand at customer contact points. Changes that redefine the brand’s core values – Uncompromising Customer Experience, Human-Centered Innovation and Warmth to Power a Smile – and add dynamism to LG’s visual identity are actively being made around the world.

Supporting the ESG vision of a Better Life for All, the company has made six core commitments: achieving carbon neutrality, circular economies, eco-conscious products, sustainable supply chains, an inclusive organizational culture, and accessible products and services.

In particular, LG plans to actively expand various activities that customers can engage in, enabling them to better relate to the company’s ESG vision and understand its meaning and significance. With ESG management not only focused on suppliers, LG’s vision also takes ESG to a new level to instill a sense of pride in consumers that they positively contributed to the environment by selecting LG’s products and services, providing an experience of increased convenience and usability.

# # #

LG CEO Announces Bold Vision to Transform LG Into ‘Smart Life Solution Company’

LG CEO William Cho presenting the company's future vision

Company Aims to Advance Business Portfolio by Transitioning to Platform-Based
Service Business Model, Accelerating B2B Business and Procuring New Growth Engines

SEOUL, July 12, 2023 — LG Electronics (LG) declared its vision to transform from its current position as a top global home appliance brand to a “smart life solution company” that can connect and expand customers’ diverse experiences while driving for global annual revenues of KRW 100 trillion by 2030.

In a landmark speech today at the LG Sciencepark in Seoul, South Korea, CEO William Cho outlined the bold vision built on three growth engines: pursuing new platform-based service businesses through the advancement of business portfolio, accelerating business-to-business (B2B) and exploring new business areas such as electronics vehicle charging and digital health. The CEO identified electrification, servitization and digitalization as key inflection points LG will focus on to achieve rapid mid- to long-term growth.

“LG will continue to pursue its bold vision to transform and leap forward as a smart life solution company that connects and expands customers’ various spaces and experiences, rather than resting on its current position as the best home appliance brand that provides quality products,” said CEO Cho. “We will establish a brand-new LG by reinventing the way we work and communicate toward this goal.”

The CEO also highlighted the company’s financial objectives. “We will achieve Triple Seven, which encompasses an average growth rate and operating profit of 7 percent or more as well as enterprise value to EBITDA ratio of 7,” said the CEO. “With the goal of raising sales from KRW 65 trillion last year to KRW 100 trillion by 2030, we will establish ourselves as a company that is properly recognized by the market and customers.”

Cho said LG will focus on the transition to the platform-based service business model, acceleration of B2B areas and procurement of new growth engines based on competitive edge as three pillars to focus on customer experience. By 2030, the proportion of these three pillars in sales and operating profit is expected to increase to more than 50 percent.

The company plans to invest more than KRW 50 trillion by 2030 for the qualitative growth of the business, including the advancing of the business portfolio led by the three new growth engines. This includes an R&D investment of more than KRW 25 trillion, facility investment of more than KRW 17 trillion and strategic investment of KRW 7 trillion.

The company is also accelerating the expansion of its B2B business, the CEO explained. LG’s rich understanding of customers as well as the know-how to communicate and empathize with customers that have been accumulated in the B2C business, which has seen continuous innovation over the past 65 years, will be fully expanded to commercial, mobility and virtual spaces.

Cho highlighted how LG is accelerating company-wide changes from corporate culture to brand communication at every customer contact point with the ultimate goal of becoming a brand that warms the hearts of customers and puts smiles on their faces while enabling customers to feel the value and philosophy of Life’s Good. The company is also driving ESG management activities to fulfill its responsibilities as a global corporate citizen.

# # #

LG Recognized for Leading Sustainable Innovation to Address Global Challenges

First-of-Its-Kind LexisNexis Report Ranks LG Among Top 100 Companies
Accelerating Innovation to Achieve United Nations Sustainable Development Goals

NEW YORK, July 11, 2023 – LG Electronics Inc. (LG) has been recognized as a world leader in leveraging technology to address sustainability and social challenges, according to a just-released groundbreaking report. LG is ranked 13th among the top 100 corporate patent owners advancing transformative solutions toward the United Nations Sustainable Development Goals (SDGs) in the new report, “Exploring the Global Sustainable Innovation Landscape: The Top 100 Companies and Beyond,” by LexisNexis^®Intellectual Property Solutions.

“Now more than ever, the intersection of innovation and sustainability is creating opportunities for companies to make a difference in addressing some of the world’s most pressing issues,” said LG Electronics North America CEO Thomas Yoon. “LG’s Better Life for All ESG mission builds on our longstanding role in the UN Global Compact and aligns with SDG initiatives driving positive impact for people, communities and the planet.”

With the release of Exploring the Global Sustainable Innovation Landscape, LexisNexis introduces what it calls “a new standard of excellence for responsible and sustainable business.” By objectively mapping the SDG targets and indicators to the global patent system and applying the Patent Asset Index, a widely accepted evaluation methodology featured in the LexisNexis^®PatentSight^® platform, the report identifies the companies such as LG that are building a healthier, prosperous and more sustainable world through the contributions of their patent portfolios.

The six pillars of LG’s global ESG strategy – carbon neutrality, circular economies, eco-conscious products, sustainable supply chains, an inclusive organizational culture and accessible products – are aligned with UN SDGs. The company is working toward carbon neutrality by cutting emissions from operations through measures such as highly efficient buildings, renewable energy, fleet electrification and carbon offset projects. LG’s climate action efforts also focus on reducing the environmental impact of its products throughout their entire lifecycle, from design and production to packaging and transportation to use and disposal.

To download the report, view the complete ranking of the Top 100 companies and learn about the report’s approach to mapping patents to the SDGs, visit www.lexisnexisip.com/sustainable-innovation-report.

# # #

LG Channels Ready to Excite K-Content Fans in Australia, Europe and Latin America

The BINGE KOREA page on LG Channels showing various Korean content available for free on the streaming service

BINGE Korea on LG Channels to Give LG Smart TV Owners in 23 Countries
Over 40 Channels of Top-Quality Korean Content to Enjoy

SEOUL, July 11, 2023 — LG Electronics’ (LG) exclusive, free streaming service, LG Channels, is set to present LG Smart TV owners in Australia, Europe and Latin America¹ with a vast selection of compelling K-content, which has gained growing popularity worldwide. Spanning multiple genres and offering something for every age and taste, BINGE Korea is the latest collaboration between LG and South Korea-based digital content and platform distribution company, NEW ID, the first in-house venture of the media group NEXT ENTERTAINMENT WORLD (NEW).

In June 2023, LG launched YTN on LG Channels in Australia, Brazil, Mexico and Europe, bringing live news directly from Korea’s first 24-hour news service to a global audience.

Building on this, LG is expanding the selection of K-content available on LG Channels with the introduction of BINGE Korea. LG Smart TV users in the applicable markets will have more than 40 channels at their disposal, allowing them to watch Korean news, entertainment and lifestyle shows, K-dramas, K-pop, animation and more – all without a paid subscription. Whatever their preferences or interests, users will find a wealth of great viewing choices on the new home of K-content on LG Channels.

Popular Korean TV shows like Running Man, the beloved SBS series that offers friendly competition and laughs as 2 teams compete to win missions – often involving well-known Korean landmarks – are available to watch. Coming in July, LG is proud to present a collection of K-dramas that includes historical favorites, such as The Nokdu Flower, and iconic series set in modern-day Korea, such as The Heirs. The latest wave of K-content to arrive on LG Channels will also feature the NEW KMOVIES channel from NEW ID and an exciting lineup of SLL drama titles.

LG Channels has become a go-to hub for K-pop enthusiasts around the world, enabling them to watch their favorite pop stars perform on the large screens of LG’s Smart TVs. Among the must-see shows users can now tune into is Inkigayo, SBS’s weekly Korean music ranking program which features the hottest K-pop artists of the moment. They can also head to the NEW KPOP channel for a variety of K-Pop TV shows boasting music videos and live performances, as well as reality shows, K-dramas and documentaries.

Younger viewers will be enthralled and engaged by the delightful collection of Korean children’s programs on LG Channels. From Toony Planet and Kongsuni, to Tobot and Robocar POLI, there are plenty of colorful characters and exciting adventures to captivate the youngest members of the household.

Many of the 40-plus K-content channels on BINGE Korea provide user-friendly options to enhance the viewing experience for overseas audiences, including content dubbed in English, and programming with subtitles available in English, Spanish, French or Italian.²

Viewers can access LG Channels by pressing the dedicated button on the Magic Remote or the LG Channels icon on their LG Smart TV’s home screen. This takes them to a full-page menu where they can learn all about the diverse channels on LG’s free, premium service. Every channel is assigned an IP- number which can be easily inputted using the number pad on the remote.

LG Channels can also be activated via antenna (over-the-air) by selecting the Live TV button on the main screen. This method allows viewers to browse both broadcast TV channels and LG Channels at the same time. BINGE Korea channels can be found starting at IP-800 in Australia, Europe and Latin America.³

LG Channels is LG’s exclusive free streaming service, offering a wide selection of premium live and on-demand programming, including movies, TV shows, news, sports, children’s programs and more. With an always growing number of channels in 27 markets globally, LG TV owners can easily discover their favorite programs by launching the LG Channels application on their LG TV’s webOS platform (LG Smart TV models 2016-present).

With its extensive and expanding library of premium K-content, LG Channels continues to take the lead in delivering the best of Korean news, entertainment and culture to viewers worldwide.

# # #

¹Content available in sixteen markets in Europe (Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, United Kingdom) and six markets in Latin America (Argentina, Brazil, Chile, Colombia, Mexico, Peru).
² Subtitle language varies by title and country.
³ Viewers in Belgium, Denmark, Luxembourg, Netherlands, Norway, Sweden, United Kingdom can launch LG Channels from the app, while viewers in other countries can also launch the channels over-the-air, by selecting Live TV and browsing the channel numbers.

[Future Tech] The Post-Smartphone Era: Ambient Computing

Various icons are connected with lines and a photo of a living room is in the background

As artificial intelligence (AI) evolves beyond the capabilities of humans across various aspects of life, social and economic paradigms are shifting. This is making more people curious about the ways this state-of-the-art technology will shape the future. According to a survey by LG AI Research, 1000 respondents in Korea and the US are highly interested in AI-powered functions and experiences that make life easier, like a machine that can perform daily tasks on their behalf.

Choi Ho-young, AI Platform TP Leader of the Ambient Intelligence Lab at LG Electronics

Ambient computing – AI decisions made without human intervention – is all about realizing the people’s visions of the future. This broad term depicts an environment of smart devices, AI and data designed to enable flawless computer actions to make everyday life easier.

Though this may sound like mobile computing, ambient computing is much more as it demands that multiple devices work unison to offer a customized, seamless experience to several users simultaneously. To fulfill the needs of all its customers with this ubiquitous technology, LG is incorporating ambient computing technology, such as its AI smart home companion ATOM (Ambient computing Technology of Multiverse), into its home appliances and TVs.

As soon as someone walks through the front door, ATOM identifies who they are, sets the room temperature and recommends recipes for later, all based on their unique preferences and tastes. Ultimately, it aims to understand the users’ behavioral patterns and make assumptions based on the data it constantly collects, improving the efficiency and effectiveness of LG products. When fully developed, ambient computing will free customers from the time and effort spent on operating devices or learning how to use certain functions.

Other LG technologies utilizing ambient computing include ThinQ Home Concierge, which gives detailed information about home features just like a hotel concierge would, and Smart Mat Technology, which allows users to take a picturesque nature walk via their living room’s LG TV.

Through constant evolution, LG appliances equipped with ambient computing will be able to autonomously present living environments optimized to customers’ distinctive needs. Imagine a day in your life where the air conditioner lowers the temperature during your daily workout, the washing machine sets the ideal cycle for your clothes without fail, the water purifier updates you on your water intake and the refrigerator manages ingredients to ensure you’re eating a balanced diet.

To help bring about a future where AI safely guides and takes care of users both inside and outside the home, LG is striving to establish technologies going beyond simply answering questions to provide services tailored them. Based on three major technologies – AI Sensing, which senses and comprehends various situations, AI Brain, which makes judgments based on data, and AI Body, which enables communication with users – LG AI Research is developing differentiated technologies to deliver next-level customer experiences.

The company is looking forward to a future where all its products are connected wirelessly, exchanging information freely and providing a convenient lifestyle that allows customers to live in bliss every single day.

By Choi Ho-young, AI Platform TP Leader of the Ambient Intelligence Lab at LG Electronics

# # #

LG Releases Preliminary Earnings for Second-Quarter 2023

Highest Second Quarter Revenue With
Steady Growth Based on Strong Fundamentals

SEOUL, July 7, 2023 — LG Electronics Inc. (LG) today announced its preliminary earnings results for the second quarter of 2023.

LG reported revenues of KRW 19.9 trillion in the second quarter of 2023, the highest second-quarter revenue, with operating profit of KRW 892.7 billion, the second highest second-quarter operating profit in the company’s history.

The revenue reflects the company’s actions to fundamentally improve its business structure by continuously expanding the B2B segment, even as profitability was impacted by the challenging global economic conditions and intensifying competition in the market. Operating profit increased by 12.7 percent compared to the same quarter last year, reflecting continuous growth based on the company’s strategy to strengthen business competitiveness.

The LG Home Appliance & Air Solution Company recorded strong profitability on the back of increased sales of high demand products such as air conditioners and energy efficient heat pump-enabled products as well as energy storage systems.

Despite the challenging global economic conditions, the LG Home Entertainment Company is achieving meaningful growth of content and service businesses based on LG’s webOS smart TV platform. At the same time, the company’s Lifestyle Screens are expanding sales and driving the premium TV market.

The LG Vehicle component Solutions Company is continuing the growth momentum supported by high order backlog of auto parts and stable supply chain management. At the same time, the company’s growth was positively impacted by a stable business portfolio made up of the 3 key areas of infotainment, e-powertrain and lighting solutions. The LG Business Solutions Company is accelerating the expansion of the customer experience to discover potential customer demand by introducing the world’s first commercial television sets to feature Apple AirPlay technology support for hotel TVs.

These figures are tentative consolidated earnings based on K-IFRS provided as a service to investors prior to LG Electronics’ final earnings results, including net profit. Details regarding each division will be announced officially later this month.

# # #

LG Launches New R&D Subsidiary in Indonesia

LG Electronics' newly constructed 40,000 square meter R&D center in Indonesia

New Research Subsidiary to Play Key Role in Streamlining
Company’s Business Operations in Asia

SEOUL, July 6, 2023 — LG Electronics (LG) is establishing a new 40,000 square meter R&D subsidiary* in Indonesia. The first-ever overseas research subsidiary on behalf of the LG Home Entertainment Company, the facility finishes LG’s complete, local business operation encompassing product development, production and sales.

The opening ceremony, which was held on July 6 in Cibitung, Indonesia, was attended by Park Hyoung-sei, president of the LG Home Entertainment Company, as well as government officials representing both nations.

This new subsidiary will conduct all R&D projects for products targeting the global market, pointing to LG’s continued dedication to addressing the unique needs of local consumers as a leading brand loved worldwide. Enabling the unified operations of product development and manufacturing, the new subsidiary will allow LG to develop new models with higher efficiency as well as expand the company’s businesses in the global TV market with heightened speed.

The company also aims to foster local product operation systems focusing on R&D with the aim of developing a more diverse lineup of TV products that respond to the rapidly growing Asian market, particularly Indonesia. Under the initiative, the company launched the LG Electronics Indonesia R&D subsidiary, the predecessor of the current research subsidiary under the same name, in 2021 and last year put together a new team under its Home Entertainment Company dedicated to product development in the Indonesian market. Latest in these efforts, the new R&D subsidiary will serve as a launching pad for LG’s innovations targeting the global market.

This R&D subsidiary is especially meaningful as it provides a local one-stop system for seamless business operations. In his visit to Indonesia last April, CEO William Cho stressed the importance of streamlining local operations to achieve a new level of excellence in quality, cost and delivery. Situated in close vicinity to its Cibitung production and Jakarta sales subsidiaries, this new R&D subsidiary allows the entire supply chain to be carried out within the region.

To support the subsidiary’s diverse research projects, LG is operating training programs for TV R&D developers and plans to continuously hire experts to reach 500 employees by 2025. The company will also strengthen its ties with local universities by launching industry-academic collaborations designed to uncover budding professionals. This sets the environment for a fully localized R&D system, contributing to versatile product planning and development quickly carried out on a global scale for heightened cost competitiveness. Lee So-yeoun, head of R&D in Indonesia, has taken office as the new head of the LGE Indonesia Research and Development Subsidiary.

“The R&D subsidiary is a step towards our goal of reaching our consumers in the best way possible from product development all the way to customer-end services,” said Park Hyoung-sei, president of the LG Home Entertainment Company. “The facility will become a testing bed for the latest LG innovations preparing to revolutionize the industry on a global scale.”

For all the latest news on LG’s global ventures, visit the LG Newsroom.

# # #

^*LGE Indonesia Research and Development Subsidiary.

LG’s Software Center Earns Latest Accreditation From TÜV Rheinland

Park In-sung, head of the Software Center at LG Electronics, posing for a photo with a certificate from TÜV Rheinland

A TÜV Rheinland Appointed Laboratory, Company’s Center Now Able
to Evaluate Functional Safety of Home Appliance Software

SEOUL, July 4, 2023 — LG Electronics’ (LG) Software Center has been officially designated a TÜV Rheinland Appointed Laboratory for the purpose of evaluating the functional safety of home appliance software. LG is the first company to have its dedicated software testing facility receive this particular accreditation from TÜV Rheinland, a global leader in testing, inspection and certification services.

Using tests conducted in accordance with relevant international standards (IEC 60730-1, IEC 60335-1), LG can evaluate the architecture of software applied to its smart home appliances to determine if functional safety requirements have been met. This will help the company to reduce the length of time needed to provide its customers with safe, high-quality products.

Additionally, LG expects that the accreditation for software testing will further strengthen the competitiveness of its home appliance business, enhancing the trust that customers have in the reliability and overall quality of its advanced household solutions.

LG continues to advance its business portfolio by expanding its software capabilities across all business areas. In June 2022, the Software Center was designated a TÜV Rheinland Appointed Laboratory, becoming a credible provider of automotive software functional safety evaluations. Prior to that, the center earned accreditation from the Korea Laboratory Accreditation Scheme (KOLAS) to assess autonomous vehicle software and measure the quality of electric and electronic products.

“We will continue to pursue a variety of activities and initiatives to enhance software quality and boost public confidence, which will ultimately help strengthen the software competitiveness of LG’s products and services,” said Park In-sung, head of the Software Center at LG Electronics.

# # #

LG Reaffirms Its Leadership in 6G Development

Company Once Again Elected to Chair
Next G Alliance’s Applications Working Group

SEOUL, July 3, 2023 — LG Electronics (LG) announces the reelection of Dr. Lee Ki-dong, assistant vice president at the Research and Standards Lab in LG USA, as chairperson of the Next G Alliance’s Applications Working Group. Dr. Lee was first elected to the position in 2021 and will now continue as the chair of the working group until May 2025, a result that reflects his and LG’s exemplary leadership over the past 2 years.

Founded in 2020 by the Alliance for Telecommunications Industry Solutions (ATIS) with the foundational goal of advancing 6G technology, the Next G Alliance comprises 6 working groups including Applications, Technology and National 6G Roadmap. With the commercialization of 6G expected to begin in 2029, more than 100 companies from various fields – including major mobile carriers in North America – have joined the alliance to actively accelerate the “NGA Lifecycle to 6G,” which spans research, development and manufacturing, standards leadership, market readiness and realization.

Dr. Lee’s reelection is significant for LG, serving as recognition of the company’s global leadership in the journey towards 6G advancement, a technology that is poised to play a crucial role in the evolution of many sectors, including mobility, the metaverse, smart city and manufacturing. As the only Asian-headquartered company contributing to leadership roles for Next G Alliance, LG will continue to oversee North American initiatives outlined in the Alliance’s roadmap, such as establishing 6G technical requirements and discovering new applications and use cases.

LG continues to demonstrate its commitment to and excellence in 6G technology by partnering with various companies and organizations to propel the technology forward. Last year, at the Fraunhofer Heinrich Hertz Institute (HHI) in Berlin, Germany, LG successfully tested the transmission and reception of 6G THz data over a distance of 320 meters outdoors. In addition, the company has been leveraging its mobile communications experience and expertise while cooperating with academic institutes to develop 6G core technologies. In 2019, through a collaboration with the Korea Advanced Institute of Science and Technology (KAIST), the company launched the LG-KAIST 6G Research Center.

“6G technology will be a game changer that accelerates innovation across newly established business areas, such as artificial intelligence, the metaverse, robotics and urban air mobility,” said Dr. Kim Byoung-hoon, CTO and executive vice president of LG Electronics. “Through its highly-advanced R&D programs and strong commitment to industry cooperation, LG is playing a major role in realizing the future of network communications.”

# # #

LG’s Reinvention of Personalized Entertainment Powered by AI

An LG TV displaying six different picture settings to choose from during the setup of Personalized Picture Wizard

At the beginning of 2023, LG unveiled its vision statement for a new era of TVs – “Sync to You, Open to All” – which signifies the company’s unwavering dedication to tailoring the user experience to unique preferences and lifestyles.

Aspiring to revolutionize the consumer landscape, LG is paving the way for truly exceptional customer experiences with a diverse array of personalized products and services which offer value to users regardless of their age, gender and location.

In its latest attempt to create personalized home entertainment experiences, LG has brought a special feature to its 2023 smart TVs which lets users discover and apply their ideal picture settings. The winner of LG’s fourth company-wide customer value innovation contest, the AI-powered “Personalized Picture Wizard” goes beyond offering several picture presets to ensure images always look precisely how the user wants them to look.

To use the new Personalized Picture Wizard feature, all users need to do is select a few options that best reflect their ideal picture settings and preferences from a set of images, whether that be with warmer or cooler color tones or with sharper versus more softened images. The feature then offers a specialized preset based on these selections.

The goal is to make picture customization easier and more accessible to non-TV experts for all consumers. “Calibrating the TV is a daunting task for most users. First, they must navigate through several settings to get to the picture presets, and even then the complicated technical terminology and fear of ruining a new TV puts them off,” explained Ki Dong-jun, professional at the LG HE Company’s HE Product Planning Division. “In fact, we found that 90 percent of our consumers stick to the TV’s default settings, Standard and Eco Mode.”

A comparison of two images before and after applying the Personalized Picture Wizard

While this feature makes tailor-made entertainment experiences simpler, the cutting-edge technology behind it is far more complex. “Picture presets are grounded on six basic elements,” said Nam Yeon-oh, research professional at the LG HE Company’s HE R&D Lab. “Subtle variations of these elements combined remarkably create more than 85 million preset possibilities. The Picture Wizard’s AI technology then picks out an option based on the user’s selections, as well as providing descriptions of their picture preferences with easy-to-understand key words such as bright, warm and clear.”

First introduced at this year’s CES, the Personalized Picture Wizard has already received warm praise from consumers. In a user survey, 75 percent of people said the customized setting precisely reflects their picture quality preferences, and 90 percent found this feature intuitive and easy-to-use. An added convenience to being highly usable, the feature even allows users to further tweak and modify their customized picture settings to their liking.

LG’s innovation for customized home entertainment does not stop here. Besides providing personalized content recommendations based on the user’s voice search inquiries and keywords, LG’s smart TVs will soon come with a feature that lets every family member save their unique picture preset to their individual accounts.

To learn more about the LG Home Entertainment Company’s efforts to deliver unparalleled viewing and listening experiences for each and every user, stay tuned to the LG Newsroom.

# # #

LG Showcases First Hotel TVs With Apple AirPlay at HITEC 2023

LG’s Vehicle Solutions Business Marks 10-Year Anniversary, Emerges as Industry Leader

LG Vehicle Solutions business 10-year anniversary design image

Company Celebrates Decade-Long Legacy With Its Employees and Partners,
Recognizing Their Tireless Efforts in Driving Mobility Sector Innovation

SEOUL, June 29, 2023 — LG Electronics (LG) marked the 10th anniversary of the establishment of its Vehicle component Solutions (VS) Company this week, hosting a ceremony in Seoul under the theme of Driving Better Future Mobility, attended by over 3,000 employees. While presenting at the 10th anniversary ceremony, Eun Seok-hyun, president of LG VS Company, shared ‘Vision 2030,’ a bold initiative to secure the company’s position as a global leader in the automotive solutions market by the beginning of the next decade.

“The surplus in sales we achieved last year is a testament to the solid business structure our company has built over the past 10 years,” said Eun Seok-hyun. “We will become a global leader in the electric vehicle (EV) components industry, driving the era of EVs and autonomous vehicles through technological and design innovation.”

LG CEO William Cho made a special appearance at the event, delivering an inspiring message of encouragement. “We have arrived at this significant milestone thanks to the trust of our customers and the dedication of our employees,” said CEO Cho. “The LG VS Company will continue to innovate and strive for better future mobility.”

Since establishing the VS Company in 2013, LG has continued to nurture its auto parts business, viewing it from the outset as a key driver of future growth. Moving forward a decade, LG is now strengthening its position in the global auto parts market based on consistent growth in three key areas: the LG VS Company’s vehicle infotainment solutions; LG Magna e-Powertrain, a joint venture with Magna International to develop and produce EV powertrain technology; and ZKW Group’s vehicle lighting systems.

The LG VS Company successfully turned an operating profit in the second quarter of 2022, marking a turnaround after 26 consecutive quarters in the negative since 2015. Last year, the company recorded sales of KRW 8,649.6 billion and an operating profit of KRW 169.6 billion. It also finished 2022 with an order backlog with a total value of approximately KRW 80 trillion.

Infotainment, which combines driving information and entertainment, provides a vehicle’s driver and passengers with enhanced in-car experiences. The heart of any EV, the powertrain – including the motor, inverter and converter – generates and transmits power. Located at the front of the car and integrating electric auto parts and sensors, the lighting system in smart vehicles plays a vital role in maintaining on-road safety.

At the core of the company’s business lies its in-vehicle infotainment system (IVI), which employs advanced telematics (vehicle communications module) and a digital cockpit system (head unit). LG’s telematics solution secured an impressive 22.4 percent share of the vehicle telematics market in the first quarter of 2023, while its digital cockpit system has recorded a double-digit market share since 2021.

LG’s global partners shared inspiring, congratulatory video messages that were screened at the Seoul event:

Ahn Hyung-ki, senior vice president of the Electronics Development Center & Mobility Technology Center at Hyundai Motor Group, said, “LG has demonstrated a dedication to making better products, consistently meeting our requests by solving difficult challenges. We hope that the LG VS Company and Hyundai will continue to work together to lead the automobile industry.”

Kwon Hae-young, vice president of the Infotainment Development Center at Hyundai Motor Group, stated, “Participating with LG in the mass production joint ceremony in 2018 was especially memorable for me. I would like to thank LG’s development team for their passion and dedication to our ongoing collaboration.”

Jeff Morrison, General Motors’ (GM) vice president of Global Purchasing and Supply Chain, offered these words: “We sincerely congratulate LG VS Company on its 10th anniversary. LG has been a trusted supplier to GM since even before the VS Company was officially formed, and has long proved its commitment to helping our brands provide differentiated in-vehicle experiences. Let’s all stay committed to developing innovative technologies that enhance the driving experience and promote safety on the road.”

Julien Battiston, Head of Renault’s Software Defined Vehicle (SDV) Product Line, said, “LG has very talented software engineers and a flexible business model. I hope that we can create more success together in the future.”

# # #

LG Smart Cam Pairs With LG TVs to Deliver a Smarter, More Interactive Experience

A woman using a fitness application on her LG TV to exercise at home, with LG Smart Cam attached to the top of the TV

Designed to Seamlessly Integrate With LG TVs, New Video Camera Allows Users to
Enjoy Enhanced Interaction and Convenient, High-Quality Video Calling

SEOUL, June 28, 2023 — LG Electronics (LG) announces the global rollout of its new Smart Cam (model VC23GA). A Full HD (FHD) video camera with built-in dual microphones and multi-view function, the Smart Cam seamlessly integrates with LG’s webOS-powered smart TVs* to provide enhanced user interaction with a host of premium apps and services. The pairing offers convenient video calling and conferencing, an elevated home fitness experience and much more to cater to the diverse needs of customers as they enjoy various services offered by LG Smart TVs.

Compatible with many of the services available on LG TV’s webOS platform, LG Smart Cam opens up a range of diverse and compelling interactive experiences. For example, users can now conveniently connect with co-workers, clients, family or friends via RemoteMeeting, an innovative web-based video conferencing service that also works across PCs, laptops and smartphones. The FHD resolution (1,920 x 1,080) Smart Cam provides smooth, crisp video that looks remarkably clear and lifelike when displayed on LG’s large screen TVs, which are known for their excellent picture quality. Setting up the RemoteMeeting app on LG TV is fast and simple and conveniently eliminates the need for a laptop or PC connection. Moreover, the Smart Cam’s built-in mics mean no extra peripherals are required.

Those who enjoy fitness and wellbeing apps will love the benefits of pairing LG Smart Cam with an LG TV. Exercite, a home fitness app that utilizes advanced AI motion- and exercise-recognition algorithms, accurately tracks the user’s body throughout each movement with the Smart Cam to provide real-time feedback on exercise technique – helping users optimize their performance. FlexIt, a platform boasting camera-assisted live one-on-one sessions with top fitness and wellness professionals, takes full advantage of the Smart Cam-LG TV integration. The powerful combo enhances the customized user experience offered by FlexIt, which delivers tailored programs and motivational tips and tricks to support users to achieve their fitness and wellbeing goals and maintain a healthier lifestyle.

Additionally, the duo of Smart Cam and LG TV enables new entertainment options including the new selfie app, Fun Mirror and the popular dance tutorial app, 1M HomeDance. Fun Mirror brings users a wide array of filters, fun photo effects and editing options to choose from, while Home Dance by 1M, a collaboration between LG and South Korea’s iconic 1 MILLION Dance Studio, one of K-Pop’s most popular choreography teams, provides a variety of tutorials and dance clips to help users hone their dancing skills. With Smart Cam connected, users can perform alongside the instructor in Camera Mode and learn the choreography of their favorite routines more efficiently.

LG Smart Cam’s integrated cover effectively blocks the camera lens when not in use to safeguard users from potential security breaches.

Stylish as well as functional, LG Smart Cam has a slim design that fits perfectly with the modern aesthetic of compatible LG Smart TVs launched since 2022, including its lifestyle TV lineup. Attaching firmly with its magnetic connectors, LG’s camera discreetly blends in with the TV to give the appearance of a single device. And thanks to its built-in dual microphone, the new camera ensures crystal-clear voice quality.

LG is committed to elevating users’ everyday lives with innovations that deliver exceptional value and differentiated user experiences. The flawless integration of the Smart Cam and LG TV enhances convenience, interactivity and entertainment opportunities for LG TV owners. LG Smart Cam is currently available from LG’s online stores in Korea and the U.S., and is scheduled to roll out in other major markets worldwide.

# # #

^*LG Smart TV models running webOS 23 and webOS 22.

LG Showcases First Hotel TVs With Apple AirPlay at HITEC 2023

Visitors Experience LG’s Cutting-Edge Commercial Display Solutions
for Guest Rooms, Lobbies, Restaurants, Meeting Spaces and More

SEOUL, June 27, 2023 — LG Electronics (LG) is showcasing its new hospitality display solutions in Toronto, Canada, this week at HITEC 2023, the world’s premier hospitality technology tradeshow. From Transparent OLED Signage and Micro LED displays to interactive digital boards and content management solutions, LG is demonstrating a broad range of powerful display technologies and solutions designed to improve guest experiences in hotel rooms, lobbies, meeting spaces and restaurants.

LG is introducing the world’s first commercial television sets to feature Apple AirPlay technology support for hotels, offering guests a seamless and secure way to share content from their iPhone or iPad to their guest room TV. Hotel guests will connect iPhone or iPad securely to LG smart hotel TV by simply scanning a unique QR code. With no logins or passwords to remember and no separate app to download, this will be the simplest way for a hotel to enable guests to access their personal entertainment apps and accounts on the big screen in their room.

Hotel operators will be able to start offering AirPlay capability on LG smart hotel TVs later this year. AirPlay capability will be available on 2023 LG smart hotel TVs and on recent years’ models as well.

Visitors can also see how LG’s commercial display solutions enable a diverse range of experiences and capabilities for specific hospitality scenarios. Starting in the Lobby zone, a 65-inch 4K display shows how hotels can integrate digital art canvases and live content provided by Blackdove and Apollo, a digital art subscription service and LG partner. Located next to this is LG’s cutting-edge Transparent LED Film, which can be applied to glass surface, including windows.

In the Reception zone, visitors can experience the “wow factor” and power of LG’s 136-inch, 1.5mm pixel pitch All-in-One LED display, an innovation that includes an embedded controller, an on-board speaker and optional rolling floor stand. The 55-inch LG Transparent OLED Signage, a solution that delivers outstanding picture quality and high transparency, entices HITEC attendees with captivating digital media art.

In the Meeting Room Solutions zone, visitors have the opportunity to explore LG’s displays for meeting rooms, with options to suit spaces of various sizes and a range of different user needs. Among these are an impressive lineup of solutions well-suited for use in conference rooms, including the 163-inch, 1.8mm pixel pitch All-in-One LED display, products from the LG One:Quick series and 43- and 55-inch 4K UHD (3,840 x 2,160) screens. Visitors can also check out LG CreateBoard, a 75-inch interactive digital board boasting 40-point multi-touch functionality, 4K resolution and convenient screen sharing via the LG CreateBoard Share application.

Next is the Smart Room, which offers glimpse into the digitalized room technologies, including a 55-inch LG Smart TV, smart blinds and smart lights. Along with these, visitors can experience Pro:Centric, LG’s content management solution for hospitality environments.

The Suite Room zone introduces LG’s premium 97-inch OLED display, while the Presidential Suite zone impresses with the 136-inch, 0.78mm pixel pitch LG MAGNIT, which provides deep blacks, vivid colors and incredible contrast for immersive viewing experiences.

“The LG solutions highlighted at HITEC 2023 offer hoteliers an array of options to suit multiple needs and spaces,” Paik Ki-mun, senior vice president and head of the Information Display business unit of LG Electronics Business Solutions Company. “LG is committed to developing innovative hotel display solutions in collaboration with professional companies, with the aim of delivering excellent entertainment experiences that make guests feel right at home.”

Visitors to HITEC, the Hospitality Industry Technology Exposition & Conference, can explore LG’s booth (#1809) at the Metro Toronto Convention Centre. For more information about LG’s hospitality-focused products shown at HITEC 2023, visit here.

# # #

[Future Tech] Big Data and DX, Sparking the Evolution of Home Appliances

A company that understands there’s no place like home, LG is trying to make home life even better through expanding the customer experience offered by its advanced appliances.

LG presents consumers with a diverse range of products spanning around 20 different product categories, including home appliances, TVs, information technology and signage solutions. Right now, there are almost 200 million LG smart home appliances delivering customized convenience to people all over the globe. Via its rich ecosystem of products, and with the consent of its customers, the company is actively collecting and organizing data throughout the entire customer journey. Based on the analysis of this data, LG is developing various services and features to further improve the customer experience.

By utilizing ‘big data,’ the company is showing how digital transformation (DX) can simultaneously enhance business competitiveness and bring greater value to consumers. LG is applying DX technology to several key areas of its operations, such as product development, manufacturing and sales; improving the way the company works while also creating first, unique and new – or F.U.N. – customer experiences.

Let’s take a look at some of the innovative ‘DX-powered’ services that LG is able to provide its customers.

Proactive Customer Care

Inconvenient and rare though it may be, sometimes, home appliances don’t function as intended. To help avoid any major breakdowns, and the hassle that invariably comes along with them, LG developed a technology that preemptively checks for any potential issues and takes action in advance if any is required. The collection and analysis of home appliance data makes it possible to identify if a product has been incorrectly installed or is being improperly used, flagging the problem before any actual damage is done.

LG is expanding this preventive maintenance technology, which is being used throughout its home appliance lineups, by incorporating data-based AI care services. One such service enables the company’s washing machines to notify users when the drum needs cleaning due to laundry contamination or inform them if there is a risk of pipes freezing or bursting due to cold ambient temperatures. Active rather than passive, LG’s AI customer care features can be easily managed using the LG ThinQ app.

Upgradable Home Appliances

LG’s paradigm-altering ThinQ™ UP home appliances can adapt to the unique and changing lifestyles of each customer thanks to their impressive upgradability. A first for the home appliance industry, ThinQ UP technology, which allows customers to choose which additional features or functions they download and install, was no small task to develop.

In addition to providing a more tailored experience to users, ThinQ UP has helped LG to lower the total cost of developing and testing new functions for its appliances. In the future, ThinQ UP functions will be continuously improved based on customer usage data.

In order to deliver innovations like ThinQ UP, it is essential to first gain a deep understanding of how customers live. LG achieves this through analyzing product usage data and a variety of ‘external’ user data, such as whether the user is sensitive to heat, how much water they drink, and whether or not they have pets.

Customer Index

Developed and managed by LG, the Customer Index provides a wealth of data that the company is leveraging to make its smart home appliances – and related services – even smarter. The Index is helping to extend and enhance the user experience by revealing underlying usage patterns as well as customers’ hidden wants and needs – which LG then addresses by crafting clever, new services linked to its products.

In the future, owners of LG Objet Collection products who are interested in interior design will be able to use the company’s interior platform to find décor inspiration and purchase interior accessories that match with the aesthetic of their home appliances. As another example of what could soon be possible, LG’s Styler, washing machine and dryers may be able to connect users with specialist mobile laundry services aligned with their specific needs uncovered through the analysis of usage data.

By seamlessly combining products, data and services into a unified whole, LG will create continuous customer experience innovation that delivers unprecedented value and convenience. And through its commitment to implementing DX technologies, the company will keep on growing and refining its ability to help consumers everywhere enjoy healthier, happier lives.

Stay tuned to LG Newsroom for the next episode in the Future Tech series.

# # #

SUBSCRIBE