LG Releases Preliminary Earnings for Second-Quarter 2024

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

SEOUL, July 5, 2024 — LG Electronics Inc. (LG) today announced its preliminary earnings results for the second-quarter of 2024, reporting a consolidated revenue of KRW 21.7 trillion and operating profit of KRW 1.19 trillion.

Both revenue and operating profit exceeded market expectations, setting new records for the second quarter. Operating profit surged by 61.2 percent year-over-year, surpassing KRW 1 trillion for the first time in a second quarter. Revenue increased by 8.5 percent year-over-year.

For the first half of 2024, revenue rose by 5.9 percent and operating profit by 13 percent compared to the same period last year. LG’s first-half revenue exceeded KRW 40 trillion for the third consecutive year, and first-half operating profit surpassed KRW 2 trillion for the fourth consecutive year.

During the second quarter, LG maintained balanced qualitative growth across core businesses and future growth sectors.

The home appliance and air solution business continues to outpace industry growth. The air solutions segment, in particular, contributed significantly to the strong second-quarter performance, driven by seasonal demand.

The vehicle component solutions business is increasing its focus on premium product sales while proactively preparing for future technology advancements, including the shift to software-defined vehicles, exemplified by the introduction of LG AlphaWare.

In the home entertainment sector, premium OLED TV sales in advanced markets are gradually rebounding, despite challenges from rising LCD panel prices. Moreover, substantial sports momentum in Europe is anticipated to create more opportunities.

The business solutions sector is targeting the market with premium IT products, including the AI-on-device laptop LG gram and the world’s first variable resolution and refresh rate gaming monitor. The sector is also applying AI to commercial displays and penetrating the edutech market with customized products like electronic whiteboards. Efforts are ongoing to energize new businesses, such as robotics and electric vehicle charging.

This strong performance can be significantly attributed to LG’s strategic transformation towards a future-oriented business model. This shift has maximized the potential of existing operations and facilitated reinvestments aimed at discovering new growth engines.

The B2B business is continuing to drive this business transformation with steady growth. With AI emerging as a critical inflection point in the industry, the heating, ventilation and air conditioning (HVAC) business, particularly in chillers, is unlocking new growth opportunities in AI infrastructure, signaling a positive future outlook.

The vehicle components business, another pillar of B2B growth, maintains stable growth thanks to a robust order backlog and a balanced portfolio that includes in-vehicle infotainment, electric vehicle powertrain components, and automotive lamps, despite a temporary slowdown in electric vehicle demand.

In B2C, LG is overcoming market uncertainties and growth limits with new business models like subscription services. The subscription business currently spans 22 products, reducing initial purchase burdens and combining service solutions for continued revenue. New business models such as subscription services leverage LG’s vast product portfolio as platforms to offer content and services globally.

LG is accelerating its shift towards a customer relationship-centered business model. The recent acquisition of smart home platform company Athom marks a push towards personalization and service-oriented approaches in the home appliance business. The home appliance business is also focusing on space solution-centered paradigms and expanding Affectionate Intelligence appliances that cater to customer needs.

Meanwhile, LG Channels, the webOS flagship content service offering over 3,500 free channels in 28 countries, has surpassed 50 million users. LG is also expanding the webOS content and service business beyond TVs to include IT and automotive infotainment.

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.

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[Mobility Inside] LG Revolutionizes Automotive Displays with Flexible, Distortion-Free OLED Technology

A photo of automotive displays with flexible, distortion-free OLED technology

As the mobility industry shifts towards software-defined vehicles (SDVs), the importance of automotive displays continues to grow. Advanced display technology is already enhancing in-car infotainment systems and user experiences by presenting drivers with a wealth of vehicle and road-related information, while offering passengers an array of entertaining content.

The trend of incorporating larger and more numerous displays within vehicles, often referred to as ‘screenification,’ is elevating the convenience, safety and enjoyment of vehicle occupants, while also influencing vehicle cabin design. OLED panels, known for their superior image quality and unmatched flexibility (both literally and in terms of design), are increasingly being adopted in the premium auto segment.

Market research firm Omdia projects that by 2030, one out of every two information display units used in premium vehicles will be an OLED panel. Several global automakers are now equipping their high-end models with large, high-resolution displays to meet customers’ evolving expectations and preferences. With their stunning colors, clarity and contrast, OLED panels are raising the bar for automotive displays and are expected to drive the market’s continued expansion.

OLED technology makes it possible to create large, curved and flexible screens for use in digital cockpits. In response to the auto industry’s increasing interest in premium displays, the R&D laboratory at LG’s Vehicle component Solutions (VS) Company has recently developed an algorithm for its in-vehicle OLED displays that compensates for any visual distortion related to viewing angle. This advanced technology, first showcased at Display Week 2024, ensures that LG’s automotive OLED screens deliver consistent brightness and distortion-free colors from practically any angle. As a result, drivers can now see images and text more clearly across all parts of the display, enhancing safety by reducing the time needed to check on-screen information.

LG’s new technology overcomes the viewing-angle limitations typically associated with large, curved OLED displays. Currently, LG is the only automotive display supplier to have developed an algorithm that corrects these particular issues and is now in the process of commercializing this innovation.

Research into flexible OLED automotive displays has been a major focus for LG VS Company’s R&D laboratory over the past year. Kim Kyung-lack, vice president of Display Development at LG VS Company, noted that due to extensive and ongoing efforts, LG is able to offer a wide range of automotive displays leveraging next-generation technology to deliver outstanding performance. Since 2022, LG has been developing advanced in-vehicle displays and now boasts an impressive portfolio of solutions, including screens with rollable, flexible and foldable form factors. The company’s diverse offerings provide automakers with more choices when designing vehicle interiors and offer vehicle users a richer, more varied in-car experience.

Beyond automotive displays and components such as EV motors and smart lamps, LG VS Company offers cutting-edge in-vehicle software platforms and solutions. This software integrates seamlessly with the company’s display products to form a complete in-car experience solution, adding significant value for automakers seeking to enhance the functionality of their existing infotainment systems.

Through its innovative solutions for vehicles, LG is accelerating the arrival of the SDV era and playing a leading role in redefining the future of mobility.

To learn more about LG’s advanced automotive display products, visit www.lg.com/global/mobility.

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LG Acquires Athom to Advance AI-Enabled Intelligent Space Business

A photo of the LG ThinQ AI Home, which LG acquired Athom to advance its AI-enabled intelligent space business

Company to Gain Deeper Insights Into Customers’ Lifestyle and Usage Patterns and
Accelerate LG ThinQ AI Home Business

SEOUL, July 3, 2024 — LG Electronics (LG) recently acquired an 80 percent stake in Athom, an industry-leading smart home platform company based in Enschede, Netherlands. The agreement includes plans to acquire the remaining 20 percent within the next three years. This strategic move aims to enhance LG’s connectivity within open smart home ecosystems. By integrating Athom’s capabilities with LG’s Affectionate Intelligence technology, LG aspires to lead the AI-driven home innovation era.

LG plans to integrate Athom’s extensive connectivity – which links thousands of appliances, sensors and lighting devices – with the generative AI-enabled LG ThinQ platform. This integration aims to create an AI home that delivers optimal space solutions by gaining a deeper understanding of the customer. In LG’s AI home, customers will engage with generative AI, which will manage appliances and IoT devices to create a personalized environment tailored to their preferences.

LG envisions expanding the differentiated customer experience of AI homes to various spaces where customers spend their time, such as commercial spaces and mobility environments, ultimately realizing and advancing the concept of ‘Intelligent Space.’

Athom is a technology company that sells the smart home hub ‘Homey,’ which connects with home appliances and IoT devices, and also offers cloud subscription services. Founded in 2014, ‘Homey’ has expanded primarily in Europe over the past decade, gaining a loyal customer base of hundreds of thousands of users. As of 2023, Homey devices are available in Australia, Singapore, the US and Canada, in addition to Europe.

Athom has developed its own hub and OS to create an independent smart home ecosystem. Its flagship product, Homey Pro, can connect to more than 50,000 devices and supports various connection methods, including Wi-Fi, Bluetooth, Z-Wave, Matter and Thread, making it highly versatile and open.

The Homey App Store, managed by Athom, offers around 1,000 applications for connecting and controlling home devices from brands such as Philips Hue and IKEA. Many of these applications are based on official partnerships, alongside a large number of apps developed by the Homey community. This community of developers actively contributes to Athom’s open platform, continuously expanding the range of brands and devices that can be connected to the hub. Users can easily create a smart home environment by downloading apps from the store and linking their devices.

LG is poised to significantly enhance the scalability required for implementing AI homes, aiming to achieve the highest industry standards. This will be accomplished by integrating its LG ThinQ platform’s smart home technology with Athom’s open ecosystem and IoT device connectivity. The acquisition of Athom is particularly noteworthy, as it will enable LG to incorporate third-party devices and services into its ecosystem. This integration will provide LG with deeper insights into customer usage patterns and expedite the delivery of personalized services.

“The acquisition of Athom is a cornerstone for our AI home business,” said Jung Ki-hyun, executive vice president and head of LG’s Platform Business Center. “By leveraging the synergy between the two companies, we will expand our open ecosystem and external integration services, aiming to provide customers with more diverse and multidimensional space experiences.”

Even after the acquisition, Athom will continue to operate independently, maintaining its business operations and branding. This strategy is designed to maximize Athom’s growth potential and unique strengths while fostering synergies in business, research and development capabilities, and platform utilization.

LG’s introduction of the AI home, which integrates Athom’s open smart home platform with its own AI technology, underscores the company’s commitment to transitioning from a hardware-focused to a software-based platform business. In 2021, LG expanded its TV business from hardware to software by entering the TV platform market with its webOS platform. To support this shift, LG acquired Alphonso, a US-based global technology company specializing in television media, machine learning and big-data analytics. Alphonso now operates as LG Ad Solutions, a core component of the webOS content and service business.

LG aims to establish continuous relationships with customers through numerous devices connected to the AI home, ultimately transforming into a ‘Smart Life Solution Company’ that provides differentiated value.

According to market research firm TechNavio, the global smart home market is projected to grow from USD 81.2 billion in 2023 to USD 260.24 billion by 2028, with an average annual growth rate of 26.23 percent.

“LG is evolving into an intelligent space solutions company that connects and expands experiences in various living spaces. We will continue to make strategic investments to shift our business paradigm, as evidenced by our successive entries into platform-based appliance services and solutions such as the webOS advertising platform and AI home,” said William Cho, CEO of LG Electronics.

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Bringing Sport to Life: Cheer on Your Favorite Athletes in Hong Kong’s ‘Life’s Good Zone’

A picture of the Life's Good Zone stairway with several products displayed at MegaBox mall

The summer season has arrived, bringing with it a host of eagerly anticipated sporting events, such as the Summer Games in Paris and the European Football Championship in Germany. As many people in Hong Kong seek larger screens to watch their favorite athletes and sports teams in stunning detail and realism, along with live updates on the latest results, LG Hong Kong has seized the perfect opportunity to showcase its latest and greatest products.

LG has partnered with Built-in Pro, a popular appliance store located in MegaBox, the largest shopping mall in Kowloon Bay. From June until the end of the year, LG will run the ‘Life’s Good Zone,’ offering locals the chance to experience the thrill of watching their favorite sports on the most advanced OLED TVs, in the comfort of a home filled with life-enhancing appliances.

Visitors to the ‘Life’s Good Zone’ are greeted by the state-of-the-art LG OLED SIGNATURE M series, the world’s first wireless OLED TV. Making its Hong Kong debut last year, this expansive 97-inch OLED TV features a Zero Connect Box that enables the wireless transmission of high-quality video and audio to the screen at 4K 120Hz, eliminating unnecessary cables and accessories.

The cutting-edge TV’s self-lit OLED technology delivers unparalleled picture quality on a 97-inch screen. Its advanced Zero Connect Box not only offers more design freedom but also supports Dolby Vision and Dolby Atmos, bringing every game or race to life with realistic sounds and visuals that immerse viewers in the fast-paced action.

The zone also features the innovative LG PuriCare AeroFurniture, inviting customers to take a break with a breath of fresh, purified air. With a large staircase adorned with the Life’s Good logo, visitors are reminded to live life to the fullest with the help of LG innovations designed to enhance their comfort and convenience.

An air purifier that doubles as a side table and mood lamp, the LG PuriCare AeroFurniture can be tailored to match any home interior, regardless of space constraints. Achieving a remarkable balance between functionality and design, AeroFurniture even includes a wireless charger on its tabletop, adding an extra layer of convenience for users.

By seamlessly integrating the company’s large-screen OLED TVs and sleek PuriCare AeroFurniture into the showroom space, LG Hong Kong has curated a cohesive environment that effectively demonstrates how LG products and technologies can elevate the shared social experience. This initiative beautifully illustrates how ‘Life’s Good’ when people come together through a love of sport.

Stay tuned to LG Newsroom to learn how other offices around the world are spreading the Life’s Good philosophy far and wide.

Contributed by LG Hong Kong

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LG Strengthens Wireless OLED Leadership With the New LG OLED evo M4

A photo of a man watching a helicopter on the screen of a wall-mounted LG OLED M4, with a wireless Zero Connect Box sitting on a small table in the living space

Now Available in 65 Inches, the M4 Is the First and Only TV to
Wirelessly Transfer Video and Audio at 4K 144Hz

SEOUL, July 1, 2024 — LG Electronics (LG) is set to begin the global rollout of its new OLED evo M4 series TV with the accompanying Zero Connect Box that provides wireless connectivity between the TV and the receiver. The company is presenting the new model in 65 inches, in addition to the 77, 83 and 97 inches; the M series offers to accommodate the personal preferences and living spaces of as many customers as possible. Powered by the cutting-edge LG α (Alpha) 11 AI Processor, the OLED M4 delivers superior home entertainment experiences while its proprietary wireless-transmission technology unlocks new possibilities in living-space curation.

LG’s OLED evo M4 is the first-ever TV with the ability to display wirelessly transmitted video and audio at 4K 144Hz.^* The Zero Connect Box sends signals to the TV’s self-lit OLED screen without any direct wire connections, as there are no cables between the two devices to disconnect and reconnect.

Thanks to its wireless transfer capability, the Zero Connect Box can be placed almost anywhere in the room, letting users enjoy the flexibility to arrange their living space however they want to. Bringing numerous new possibilities to the art of ‘interior curation,’ the Zero Connect Box also enables users to effortlessly move the screen, or the Zero Connect Box itself, whenever necessary.

An additional benefit with the Zero Connect Box is that it becomes a simple solution to achieving a clean, clutter-free living space. Users no longer have to think up creative ways to hide or tolerate the usual tangle of cables around the TV.

Meanwhile, in addition to wireless connectivity, the LG OLED M4 boasts spectacular picture quality with its stunning self-lit screen and the new α (Alpha) 11 AI Processor. Designed exclusively for use in LG’s award-winning OLED TVs, this processor leverages three decades of AI innovations, providing personalized experiences tailored to user preferences and habits.

The M4’s faster AI processing speeds, along with its Neural Processing Unit (NPU), elevate it to the status of the ultimate gaming TV. Supporting 4K content at a blazing 144Hz, it delivers fluid gameplay and lifelike visuals. LG’s powerful processor, combined with the state-of-the-art OLED display, takes gaming enjoyment to the next level.

LG’s OLED M4 series TV with the Zero Connect Box will be rolling out in major markets worldwide from July 1.

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^* LG 2024 OLED M4 series TVs up to 83 inches (screen size) provide support for 4K@144Hz. The 97-inch OLED M4 supports 4K@120Hz.

Paving Innovative Pathways to Exceptional Customer Value with STUDIO341

A picture of people sitting, smiling, and posing together on stage at a demo day event of STUDIO341.

Steadfastly embracing its mantra of ‘Life’s Good,’ LG believes that its products are more than the sum of their parts. That’s why the company is constantly innovating cutting-edge products which can help it shape a world where exceptional value is the norm and a smarter, more convenient life is accessible to everyone. These efforts bring LG one step closer to realizing a Better Life for All.

Since 2020, LG has been exploring new business opportunities to innovate the customer experience, leveraging the ideas, experiences and skills of its members through its in-house venture and company-in-company system.

In line with this commitment, LG has fostered a work environment that encourages employees to embrace new challenges, exemplified by last year’s launch of ‘STUDIO341.’ This initiative’s primary mission is to identify and foster internal ventures that encapsulate the spirit of challenge and innovation, the very spirit that has driven LG’s transformation from its humble beginnings as Goldstar in 1958 to a global powerhouse.

Designed with the Brave Optimist mindset, this initiative is tailored for company executives and employees based in Korea. The sole criterion? A creative idea that can solve a problem worth solving and provide a new experience to customers.

The five most outstanding ideas were selected for spin-off. Let’s delve into them.

MASKIT Founder Bae Ho-yeon

MASKIT: Secure & Queue-Free Concert Ticketing Solution
In response to the constraints of traditional concert hall ticketing systems, MASKIT collaborated with customer experience specialists at LG to create a system that allows customers to verify their identity at home and gain entry to a venue without enduring long queues. MASKIT also encrypts all the personal data it collects, ensuring consistent user protection.

This solution provides concert-goers an unprecedented level of convenience, while enabling concert organizers to achieve significant cost efficiencies. MASKIT’s ambition is to roll out this ticketing solution to large concert halls and entertainment companies nationwide, while evolving into a comprehensive culture and arts solution that utilizes personal data in the most secure manner possible.

X UP Founder Lee Yong-soo

X UP: Smart Sensor-based Golf Course Green Management Solution
X UP offers a robotic turf maintenance solution that manages golf courses by analyzing turf data via heat maps. The unpredictability and unknown causes of turf damage make it difficult to prevent, often necessitating repairs after the damage has occurred. However, X UP allows golf courses to shift from physical repairs to a data-driven preventative management strategy.

Looking ahead, X UP aspires to become the go-to robotic solution company offering a more efficient alternative to manual golf course maintenance.

FRESH GO Founder Lee Sung-hoon

Fresh GO: Modular Individual Refrigerator for Cold Chain Transportation
Fresh GO has pioneered an individual cooling cold chain solution that facilitates the transportation of fresh food in conventional trucks, meeting the growing demand for food deliveries. This innovative cooling method uses Physics-Informed Neural Networks and Ref Cycle technology, matching the performance of competitors at half the cost.

The temperature can be individually adjusted for each item, and the design, which eliminates the need to open the entire door, aids in maintaining internal temperatures. It can even be adapted for air deliveries. Fresh GO’s CEO, Lee Seong-hoon, has leveraged his experience at LG to bring this concept to life, addressing customer needs.

Cucumbers Founder Lee Jae-hyuk

Cucumbers: Cost-Effective Pickup Service and Marketing Tool for Restaurants
Cucumbers provides an intelligent solution that lessens the commission burden on restaurants while also acting as a marketing tool to draw in regular customers. By offering a pickup service with in-store prices and group pickup discounts, it allows users to reduce their cost burden, encouraging a symbiotic relationship.

Found Objet Founder Kim Ju-hee

Found Objet: Recycled Materials Trading Platform for a Sustainable Future
Found Objet, a platform that streamlines transactions between recycling companies and buyers, is the brainchild of CEO Kim Ju-hee, formerly of LG Vehicle component Solutions Company. She observed that many recycled materials businesses were run by the older generation, who often didn’t fully grasp market prices and needed to acquire new customers as the market expanded. Concurrently, purchasing managers at chemical companies were looking to gather information from various businesses to secure a consistent supply of raw materials. Found Objet bridges this information gap, contributing to a more sustainable future.

STUDIO341’s final five were selected based on their potential for growth and their capacity to continually innovate the customer experience moving forward. LG and Bluepoint intend to collaboratively invest up to KRW 400 million in each of these start-ups.

Stay tuned to LG Newsroom to see how its solutions based on innovative technologies are innovating new value for customers across various future industries.

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Exploring the World of Premium Design at the Signature Kitchen Suite Showroom in Milan

A picture of Signature Kitchen Suite showroom entrance in Milan

Milan Design Week, also known as Salone del Mobile, is the world’s preeminent furniture and design fair. Held in Italy’s famous fashion capital, it is a truly global showcase of innovation, creativity and luxurious style. Amidst this year’s celebration of inspiring and aspirational home living, LG presented its latest premium built-in products, including collaborations with renowned designers, at the Signature Kitchen Suite Showroom on Milan’s Piazza Cavour.

Open since 2020, the showroom artfully exhibits the sleek offerings of the Signature Kitchen Suite while introducing visitors to the brand’s True to Food philosophy. This stylish space, where tradition meets innovation, spans three levels – ground floor, basement and mezzanine – each featuring stellar Signature Kitchen Suite built-ins designed and made to the most exacting standards. The advanced appliances on display are complemented by a nature-inspired décor designed by Calvi Brambilla, an esteemed multidisciplinary design studio based in Milan.

One of the showroom’s special zones cleverly evokes the natural beauty of Italy through the use of Milano Pink, a warm, soothing color inspired by the pink hues that adorn the Alps when viewed from Milan at sunset. Visitors can experience the unique value of Signature Kitchen Suite and LG home appliances firsthand by exploring the showroom’s Food Academy and simulated domestic spaces, which include a kitchen, living room, bedroom and laundry room.

Structured around the theme of the Art of Precision, the showroom compellingly conveys the Signature Kitchen Suite design philosophy through a hand-picked selection of artworks and engaging experiential programs. Visitors can discover different examples of the ‘art of precision’ via the exhibit’s Master Craftsmen encounters, where a flavorist, a watchmaker, a baker and a glazier each demonstrate the level of care and skill that LG’s premium built-in brand has come to represent.

A delightful display of delicate origami decorations, which greets guests as they enter the showroom’s reception area, serves as another symbolic tie to the craftsman-like quality of Signature Kitchen Suite appliances. The origami pieces are accompanied by dozens of bottles containing artisanal vanilla essence, each with its own unique aroma.

Coinciding with Milan Design Week, LG showcased a variety of stunning appliances brought to life through its collaborations with high-end furniture brands and design groups. This year, acclaimed furniture designer and architect Patricia Urquiola, known around the world for iconic designs such as the Dudet Chair and Sengu Table, partnered with LG to create a new masterpiece for Signature Kitchen Suite. Visitors to the Signature Kitchen Suite Showroom have the privilege of seeing Urquiola and LG’s ultra-chic undercounter modular refrigerator in person.

A seamless fit for both kitchens and living rooms, Urquiola’s unerringly elegant creation aligns with the popular home and interior design trend of blurring the boundaries between living spaces. Resembling a sophisticated cabinet or set of drawers,the refrigerator offers custom size and color choices to suit the specific needs and preferences of each customer. Its upper compartment can be used for the efficient storage of bottled water, beer, wine (or other beverages) and even cosmetics, while its lower compartment functions as a convenient freezer.

Another aesthetically-unimpeachable appliance that debuted during Salone del Mobile was the Signature Kitchen Suite Wine Cabin. A collaboration between LG and m2atlier, a Milan-based architectural design group, this remarkable piece provides temperature-controlled wine storage in its lower compartment, storage space for wine glasses and bottles in its upper compartment, and a beautiful cigar box in between.

The Wine Cabin’s central rotating base supports a structure that can be customized with different finishes. Encased in micro-ribbed glass, the effortlessly luxe m2atlier design was conceived as a “precious container” for the Signature Kitchen Suite under-shelf wine cellar.

From creative collaborations with leading designers to carefully curated exhibits, the Signature Kitchen Suite Showroom in Milan celebrates the essence of design, technology and luxury living.

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LG Named the Official Partner of the Esports World Cup 2024 in Saudi Arabia

Company’s Industry-Leading LG UltraGear Gaming Monitors to Support the World’s
Top Pros at Global Festival of Esports in Riyadh

SEOUL, June 26, 2024 — LG Electronics (LG) has been announced as the official partner of the Esports World Cup (EWC) 2024, set to take place in Riyadh, Saudi Arabia, from July 3 to August 25. Formerly known as Gamers8, EWC is an annual international esports tournament. This year’s edition – the first under the EWC name – will host competitions for 21 of the world’s biggest online games, including League of Legends, Overwatch and Fortnite. The exclusive gaming monitor of the event for the third consecutive year, the LG UltraGear^™ will take center stage at EWC 2024, supporting the world’s top gamers as they battle for victory in Riyadh.

Boasting the largest prize pool of any esports tournament, EWC 2024 promises eight weeks of thrilling gaming action, featuring over 1,500 professional athletes. The acclaimed LG UltraGear OLED gaming monitor (model 32GS95UE) will be prominently featured at the event. Additionally, more than 990 UltraGear gaming monitors will be utilized during league matches and showcased at LG’s booth at EWC.

LG UltraGear, the company’s premium gaming brand, provides next-level gaming experiences for both professional athletes and amateur enthusiasts alike. These gaming monitors offer high refresh rates, rapid response times, and vibrant, crystal-clear images; a combination that drives gaming immersion to dizzying new heights.

Along with its premium self-lit screen, the 32-inch LG UltraGear OLED gaming monitor (model 32GS95UE) features the world’s first VESA-certified dual-mode technology, ensuring an optimized gaming experience at both UHD 240Hz (ideal for visually stunning, narrative-rich games) and FHD 480Hz (a great choice for fast-paced FPS, MOBA and racing titles). It also incorporates LG’s Pixel Sound technology for more realistic and three-dimensional in-game audio.

LG’s involvement in EWC 2024 is part of the company’s ongoing efforts to advance esports worldwide. In addition to EWC and its predecessor, Gamers8, LG sponsors and actively participates in major gaming competitions such as the League of Legends Champions Korea and the League of Legends EMEA. Through consistent engagement with the gaming community and the exceptional performance and features of its UltraGear gaming monitors, LG has become a respected name in the world of esports.

EWC 2024 attendees can visit LG’s booth to try out the same UltraGear gaming monitors used by their gaming idols throughout the tournament. They can also improve their own gaming skills by taking part in coaching sessions run by the LG-sponsored Gen.G Global Academy. Furthermore, visitors to LG’s booth can win prizes by participating in exciting competitions and events.

“Saudi Arabia’s premier esports festival, EWC is the new destination for esports fans,” said Mohammed Al Nimer, Sales Director at EWCF. “We’re excited to work with partners like LG, who share our passion for gaming and esports-culture, and to have LG UltraGear as the official gaming monitor of the inaugural EWC.”

“It’s a real honor for LG UltraGear to be named the official gaming monitor brand of an esports event as momentous as EWC 2024,” said YS Lee, vice president and head of the IT business unit of LG Business Solutions Company. “Designed to satisfy the needs of both professional and casual gamers, LG UltraGear OLED gaming monitors are tailor-made for next-level gaming experiences.”

For more information about EWC 2024 and the latest LG UltraGear gaming monitors, check out and follow LG UltraGear (@UltraGearGaming).

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LG Celebrates Prolific Wins for Season 2 of Its Original Series “LG Presents: The Rivalries”

An illustrative poster about LG presenting 'The Rivalries'

LG Wins Two Gold Awards and One Honoree

SEOUL, June 25, 2024 — LG Electronics (LG) announced today that season two of its original docu-series, “LG Presents: The Rivalries” on LG Channels has received recognition from multiple international award programs, including the MUSE Creative Awards, the Webby Awards and the Telly Awards.

As an official partner of the NCAA^®, “LG Presents: The Rivalries” series is available for free on the NCAA Championships Channel (Channel 100) via LG Channels on LG Smart TVs. Each episode highlights a different college sports rivalry as told through interviews, historical moments and the most recent game footage. The series was created and produced in partnership with Shoot To Kill NYC and HSAd USA.

“LG is focused on bringing unique content to its LG Smart TV owners and sharing more ‘Life’s Good’ moments with our consumers,” said Jeannie Lee, director of Corporate Marketing at LG Electronics USA. “In developing The Rivalries, we noticed that so much already existed to cover top-tier Division I college sports and men’s competitions. We wanted to leverage LG Channels to spotlight student-athletes competing in rivalries across emerging sports, bringing attention to all of the smaller but no less mighty rivalries that exist today in other college divisions. These awards are a testament to the impact of The Rivalries and the dedication of our partners who have shared LG’s vision and brought this series to life.”

MUSE Creative Awards: “LG Presents: The Rivalries” (Season 2) is recognized as a Gold Winner in the Branded Content – Sports category. The MUSE Creative Awards celebrates and honors excellence and innovation in creative design, advertising and digital media. Spanning a diverse range of categories, the MUSE Creative Awards recognizes the best achievements from advertising to digital media, as well as in marketing strategies and PR communications. Entrants from all corners of the world participate, showcasing creative advertising, design and campaigns that inspire and set new benchmarks in the industry.

Webby Awards: “LG Presents: The Rivalries” (Season 2) has been honored in the Video, Sports (Branded) category in the 28th Annual Webby Awards. Hailed as the “Internet’s highest honor” by The New York Times, The Webby Awards is the leading international awards organization honoring excellence on the Internet. Established in 1996, the Webby Awards received 13,000 entries from over 70 countries worldwide this year.

Telly Awards: “LG Presents: The Rivalries” (Season 2) is a Gold Winner in the Non-scripted & Documentary – Branded Content category of the 2024 Telly Awards. Founded in 1979 to honor local, regional and cable television commercials, with non-broadcast video and television programming, the Telly Awards annually showcases the best work created within television and across video for all screens. Receiving over 12,000 entries globally from six continents, Telly Award winners represent work from some of the most respected advertising agencies, television stations, production companies and publishers from around the world.

Learn more about LG’s NCAA partnership, “LG Presents: The Rivalries” docu-series, and the NCAA Channel exclusively on LG Smart TVs, by visiting LG.com/NCAA.

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LG Unveils ‘Brave Optimists’ Brand Book Showcasing Its Unique Optimistic DNA

Beautifully Illustrated Brand Book Celebrates
LG’s Brave Optimism and Employee Dedication

SEOUL, June 25, 2024 — LG Electronics (LG) is set to launch its first-ever brand book as part of its global campaign aligned with the uplifting Life’s Good initiative, which aims to spread the company’s message of optimism and joy around the world.

The Brand Book is a compilation of captivating stories from current and former LG employees, providing a deep dive into the determination, compassion and the brave optimism that define ‘LG people.’ It consists of 28 chapters divided into four sections: LG’s three core values – ‘Uncompromising Customer Experience,’ ‘Human-centered Innovation’ and ‘Warmth to Power a Smile’ – followed by a section dedicated to ‘Brave Optimists.’

Among those interviewed for the Brand Book is the current CEO William Cho, who personifies the company’s culture of optimism and aspiration to create a better future for all. The book covers defining moments in LG’s history, from the company’s entry into the U.S. market to the development of various groundbreaking products such as the InstaView^TM refrigerator, the LG SIGNATURE OLED R rollable TV and the ultra-light LG gram laptop. It also provides insights into how LG’s business units, such as the Vehicle component Solutions Company, have continuously expanded to become key drivers of future growth. Additionally, the book delves into the story behind the company’s well-known Life’s Good brand promise.

“Our new brand book celebrates the unique identity of our company by sharing the stories of our employees and the challenges that we have faced and overcome together with brave optimism and relentless determination,” said Kim Hyo-eun, vice president and head of the Brand Management Division at LG. “It also highlights the commitment to innovation that continues to propel us on our journey to becoming the smart life solution company.”

The English version of the ‘Brave Optimists’ Brand Book will be available in an e-book format at global e-book stores by the end of this month. Royalties from the sales will support social contribution projects that align with LG’s mission to create a Better life for all.

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LG Introduces AI-Powered CLOi ServeBot for Hospitality and Healthcare

The new LG CLOi ServeBot (model LDLIM31) with a towel and water bottle amenities inside the storage space

Company’s Latest Autonomous Robot Solution Provides Safe and Reliable Delivery
With its Four-Door Design and Six Wheels With Independent Suspension

SEOUL, June 24, 2024 — LG Electronics (LG) is launching its latest LG CLOi ServeBot (model LDLIM31), an autonomous, door-type service robot designed to provide safe delivery services in hospitality and healthcare settings. Featuring a four-door design with ample interior storage space, the CLOi ServeBot can perform simple and repetitive delivery tasks to reduce the burden on busy staff.

This introduction further strengthens LG’s portfolio of advanced AI robots and robot control solutions, aligning with the company’s plans to accelerate the expansion of its B2B business, particularly in the delivery and logistics services sector. The CLOi ServeBot was first released in South Korea, with upcoming launches scheduled in key markets across North America and Asia. For more details, please visit LG.com.

The door-type CLOi ServeBot has gained international recognition for its innovative and convenient design, earning honors at the Red Dot Design Award 2024 and the iF Design Award 2024. Boasting four internal compartments, each capable of holding items weighing up to 30kg, this new model is able to make multiple deliveries or collections. Its generous and secure cargo space can comfortably accommodate as many as 32 standard-sized coffee cups,^* while its shelving can be easily adjusted according to item- or load-size.

Tailored for indoor hospitality and healthcare environments, the LG CLOi ServeBot is capable of utilizing elevators to move between floors. Its six wheels, each with independent suspension, provide excellent stability, enabling the CLOi ServeBot to transport beverages over uneven surfaces without any significant spillage. For added user convenience, the CLOi ServeBot’s doors can be set to open or close automatically during operation. The LG CLOi ServeBot can even tell when a delivery has been completed, as camera sensors built into its internal compartments detect when items have been removed. And thanks to an AI algorithm, the new model can safely navigate around obstacles, determine the optimal route to its destination(s), and communicate with up to 20 other CLOi ServeBots to maximize task efficiency and avoid potential collisions.

A front-facing 10.1-inch display on the CLOi ServeBot functions as a mobile advertising platform, with content easily uploaded via the LG CLOi Station (accessible through mobile or web) or the CMS mobile app. Furthermore, LG’s latest CLOi solution can escort customers to a given destination and provide voice guidance for visually impaired users. Additionally, users can monitor the robot’s status in real time using the LG CLOi Station, which also offers convenient paging and scheduling functions.

“LG’s latest service robot employs advanced platform technologies covering AI, communications and control, to help streamline operations in hospitality and healthcare settings,” said Roh Kyu-chan, vice president and head of the robot business division of LG Business Solutions Company. “Leveraging our capabilities and expertise in robot solutions, we will continue to deliver innovative LG CLOi ServeBot models to meet the specific needs of diverse sectors.”

With years of robotics industry experience, LG continues to provide versatile robot solutions for various environments, including airports, hotels, hospitals and warehouses. The company is now developing a comprehensive suite of solutions to efficiently manage the entire distribution process, from supplying robots to facilitating the last-mile delivery of ordered products.

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^* Approximately 350ml/11.8oz each.

LG Amplifies Positive Influence of the Life’s Good Campaign via Social Media Challenge

An illustration of images with people participating in the social media challenge

Company’s ‘Optimism your feed’ Playlist
Garners 1.2 Billion Views in Just Three Weeks

SEOUL, June 21, 2024 — LG Electronics (LG) has launched a global social media challenge to amplify its brand promise of ‘Life’s Good’ by encouraging customers worldwide to create and share moments of everyday optimism on their social media feeds. Running across TikTok and Instagram, the challenge encourages participants to foster a more positive environment on their social media feeds by posting optimistic moments and selfies featuring the “finger heart” gesture – a popular symbol among K-pop idols created by forming a mini heart with the index finger and thumb – using the hashtags #Lifesgood and #Optimismyourfeed.

“LG is committed to delivering on its promise of Life’s Good. This social media challenge aims to uncover and share what Life’s Good means to our customers,” said Kim Hyo-eun, vice president and head of LG’s Brand Management Division. “We believe there is real power in approaching life with an optimistic attitude, and our Optimism your feed campaign’s social media challenge is all about embracing the opportunity to inspire more positive activities in the virtual and real world.”

The social media challenge is part of LG’s ‘Optimism your feed’ campaign and follows the launch last month of LG’s Optimism your feed playlist – a collection of original content that, when interacted with, will pull more optimistic content into your feed. Created in collaboration with global influencers known for their positive impact, the playlist offers users the opportunity to experience more uplifting and encouraging posts. Within just three weeks of its release on TikTok, YouTube and other social media platforms, the playlist has garnered over 1.2 billion views. It has resonated with viewers worldwide, prompting comments about their eagerness to participate and positively influence their algorithms.

The social media challenge invites users around the world to join influencers including Tina Choi, Victoria Browne, Josh Harmon, Team1llusion, Lenna Vivas and Samuel Weidenhofer in spreading optimism across social media feeds. In just four days, around 21,000 users have already joined the movement to share their optimistic moments.

Meanwhile, LG has also launched an offline campaign event called ‘Optimism your day,’ which will run till early July. Continuing from last year, a truck adorned with the company’s ‘Life’s Good’ brand slogan is scheduled to tour the 11 business sites in Korea. The truck features a large LED display that plays ‘Life’s Good’ campaign videos and showcases positivity slogans shared by LG employees worldwide. LG believes in spreading the campaign’s message of optimism to employees as well as the outside world.

“We are all brand ambassadors of LG,” said CEO William Cho. “If each of us starts brightening our surroundings one step at a time, I believe LG will one day become a company that truly radiates positivity, helping to create better lives and a better world.”

More details about Life’s Good campaign can be found on the campaign page at www.lg.com/lifesgood.

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[Executive Corner] Elevating LG’s Global Presence: Strategies for Sustainable Growth

A portrait picture of Thomas Yoon, executive vice president of the Overseas Sales and Marketing Company at LG

To position LG as a leading “Smart Life Solution Company” and ensure sustained growth, we must revolutionize our operational approach. Embracing change is pivotal for enhancing our organizational capabilities and business competitiveness, enabling us to uncover new opportunities for customer value creation in a rapidly evolving global market.

Last November, our CEO William Cho established the Overseas Sales and Marketing Company to drive change and growth while enhancing our global brand power through customer-value creation. This initiative introduced the concept of an ‘Outside-In’ approach, shifting our focus from internal processes to actively gathering direct feedback from customers. Traditionally, we focused on product quality and timely delivery. However, we have recognized that in today’s competitive environment, these factors alone are insufficient for increasing market share and differentiating ourselves. Consequently, we began shifting our product development approach to evaluate ideas and proposals from the customer’s perspective and develop sustainable growth strategies based on this feedback. The Overseas Sales and Marketing Company plays a crucial role in executing these strategies.

From a broader perspective, the essence of the Overseas Sales and Marketing Company is the brand, underscoring the paramount importance we place on it. The brand is the cornerstone of a company’s existence, representing the value delivered to and perceived by customers, which in turn justifies the company’s existence. Additionally, the brand signifies profit, playing a crucial role in sales. Therefore, the primary objective of the Overseas Sales and Marketing Company is to enhance LG’s global marketing and brand management capabilities.

Our ‘Optimism your feed’ campaign, initiated this May, is an exemplary effort towards this end. We launched the campaign with the aim of balancing the ‘algorithm’ that keeps much of social media mired in negative content. We sought to induce changes in social media recommendation-algorithms by posting a playlist with optimistic content, thereby helping to create a more positive online environment. We see the campaign as a powerful vehicle for reinforcing our dynamic and youthful brand image, and as an innovative means of communicating our ‘Life’s Good’ brand promise.

Another key focus area of the Overseas Sales and Marketing Company is bolstering the sales capabilities of our members, a major driver of profit generation and market share improvement. This involves targeted adjustments to routine tasks and the implementation of innovative solutions to reduce inefficiencies. For example, by leveraging automated dashboards, employees can save time on repetitive administrative tasks, allowing them to enhance their skills and productivity. Such efforts enabled us to grow even during the pandemic and fulfill customer commitments despite logistical challenges.

At the Overseas Sales and Marketing Company, we concentrate on four key strategies for transforming our business operations. The first strategy focuses on creating seamless value through software skills. Last November, the company launched the ‘LG SW Reskilling Program,’ an in-house initiative designed to elevate our software development personnel. Initially available to employees at our Korean headquarters, this program provides intensive training in embedded software and data science. This initiative benefits both employees and the company by strengthening individual capabilities and career prospects while allowing us to deploy talent to areas of high strategic importance, thereby enhancing business competitiveness.

The second strategy involves streamlining the distribution process and connecting directly with customers through Direct-to-Consumer (D2C) business models. Our goal is to increase sales by leveraging our deep understanding of customer preferences and purchasing patterns.

Our third strategy is to expand our subscription services. By offering subscription options, we aim to lower the barriers to entry for high-priced products while delivering new customer experiences at the same time.

Lastly, we focus on providing solutions tailored for diverse B2B sectors. Our objective is to integrate our solutions with the hardware possessed by our business customers, thereby enhancing their revenue generation from end-customers. For example, when ads are shown on an LCD display, the value of the hardware increases. This kind of ad business can become a part of our B2B solutions portfolio.

While these four strategies may not immediately boost revenue, they lay the groundwork for sustainable growth and represent crucial changes in how our employees operate.

Every employee plays a significant role in shaping our brand and leading sustainable growth in the global market. We believe that all personnel are, in essence, brand ambassadors. We will continue to innovate how we work to achieve sustainable growth for the LG brand.

By Thomas Yoon, executive vice president of the Overseas Sales and Marketing Company at LG Electronics

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LG Establishes Global R&D Triangle to Develop High-Performance Heat Pumps in Extreme Cold

A photo of Tanja Storsul (vice-rector for research and development of Oslo Metropolitan University), and James Lee (head of the Air Solution Business Unit at LG Electronics) shaking hands at the consortium signing ceremony

Company Partners With Norwegian and Italian Universities
to Establish the European Consortium for Advanced Heat Pump Research

SEOUL, June 20, 2024 — LG Electronics (LG) is establishing a global R&D triangle connecting North America, Europe and Asia to lead the global heat pump market and secure next-generation heat pumps specifically designed for cold climate zones. The company aims to develop regionally specialized core technologies optimized for the cold climate of Northern Europe through the establishment of the European Consortium for Advanced Heat Pump Research (ECAHR).

The collaboration with leading European universities follows the foundation of the LG Advanced Cold Climate Heat Pump Laboratory in Alaska last year, and the company plans to expand efforts to enhance the performance of its Heating, Ventilation and Air Conditioning (HVAC) products in low-temperature climate conditions. This August, LG will also continue its research on cold climate heat pumps in Harbin in partnership with a prestigious Chinese university.

LG held a signing ceremony on June 18 at the main auditorium of Oslo Metropolitan University in Norway to mark the commencement of the consortium. Members would include Oslo Metropolitan University, the Norwegian University of Science and Technology (Norges Teknisk-Naturvitenskapelige Universitet) and the University of Naples Federico II, an institute in Italy actively pursuing research in cold-climate HVAC.

During the winter of this year, Northern Europe experienced record-breaking cold weather, with temperatures dropping below minus 40 degrees Celsius. In these regions, achieving high heating efficiency is challenging due to the difficulty of compressing refrigerants at lower pressures. To address this, LG established a consortium to develop heat pumps that deliver top-tier heating performance even in extreme cold conditions.

Furthermore, the company is looking to enhance its core technologies to lead global electrification efforts and expand supplemental heating availability in Europe.

In 2022, the EU launched the REPowerEU plan, aiming to reduce dependence on Russian fossil fuels and expand new and renewable energy sources by 2030. As a result, the demand for high-efficiency electric appliances and heat pump heating and cooling systems has surged across Europe, fueling efforts to lower energy consumption and achieve carbon neutrality.

What’s more, LG is in the process of establishing a comprehensive local operation system for its HVAC business, which is expected to drive growth in its business-to-business (B2B) operations. The system covers all stages locally, from research and development to sales, maintenance and operations.

In the announcement of LG’s Future Vision 2030 last year, CEO William Cho highlighted B2B capability enhancement as one of three major growth factors. Aligning with this vision, the HVAC business has set an ambitious goal to more than double its sales by 2030 and become a top-tier global heating and cooling company.

“We aim to expand our presence around the world by developing next-generation heat pump technology tailored to the diverse climate conditions of each region,” said James Lee, head of the Air Solution Business Unit at LG Electronics Home Appliance & Air Solution Company. “We will continue to expand our footprint in the global market, adding value to drive growth in our HVAC business.”

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Inspiring the Future of the Smart Green Movement at ‘Another Hanok’

A photo of the entrance of 'Another Hanok'

Hanok, traditional Korean houses, are renowned for their aesthetic beauty construction and harmonious integration with nature. Inspired by this distinctive architectural form – prized for its energy efficiency, natural ventilation and lighting – LG Spain has constructed an AI-powered home named ‘Another Hanok.’ This innovative abode showcases LG’s latest technological and design advancements and highlights some of the ecologically-focused projects undertaken as part of LG Spain’s ‘Smart Green’ movement.

During the Another Hanok opening ceremony, LG reaffirmed its commitment to supporting the global climate response through its ongoing ESG initiatives and sustainable product solutions. The event was attended by 80 guests, including the president of LG Spain, local and Korean government officials and representatives from various partner companies. Since establishing the Smart Green movement in 2017, LG Spain has developed product solutions aimed at reducing environmental harm while encouraging and fostering community engagement.

Efficient Innovations for Sustainable Dwellings
Self-sufficient, connected and sustainably powered, Another Hanok embraces and embodies LG’s Smart Green philosophy. The house produces, stores, saves and shares clean energy, achieving 100 percent energy independence^* through the use of LG’s state-of-the-art technologies as a way to reduce its environmental impact.

Leading up to the entrance of Another Hanok is a beautifully designed pathway that inspires feelings of peace and tranquility while reminding visitors of the pressing environmental issues facing our planet. As visitors approach the house, they encounter a variety of interactive displays and installations that spotlight the challenges of reducing carbon emissions and the urgent need for companies and consumers to adopt responsible practices.

Inside, visitors can explore several spaces, each focused on different aspects of sustainable living. From energy-efficient appliances to advanced HVAC systems, Another Hanok demonstrates how LG’s cutting-edge technologies and solutions can help create a net-zero-energy home. The seamless installation of the LG Therma V R290 Monobloc heat pump contributes to the house’s efficient use of power, while ensuring the reliable heating and cooling for visitor comfort. Conveniently, the solution’s energy consumption can be monitored through the ThinQ™ Energy Service. Additionally, surplus energy produced by the solar panels installed on the roof of Another Hanok is stored in LG’s energy storage system.

Expanding the Smart Green Movement
Launched in 2017, LG Spain’s Smart Green movement is an initiative that continues to help regenerate local environments and ecosystems. The movement’s goals include planting 48 million trees (Smart Green Trees), repopulating 48 million Iberian bees to ensure the pollination of countless endemic plant species (Smart Green Bees), and reviving the health of the Mediterranean Sea (Smart Green Seas).

The ‘Another Life’ Experience
Another Hanok is a part of LG’s ‘Another Life’ series, a collection of offline experience spaces that provide customers with unique opportunities to interact with LG’s lifestyle-enhancing products. Each of these spaces offers a welcoming atmosphere along with compelling displays and exhibits that promote sustainability and responsible technological innovation. Beginning in South Korea in 2022, the series has since expanded internationally with the addition of sites such as ‘Another Saigon’ in Vietnam.

LG views Another Hanok as a new, more-engaging kind of B2B showroom, where its European B2B clients can see first-hand the company’s strong commitment to achieving carbon neutrality. In the spirit of its Life’s Good philosophy, LG will continue to innovate and inspire, leveraging its technology leadership to help usher in a new era of sustainability.

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^* Average yearly photovoltaic (PV) power generation at Another Hanok is 22,030 kWh while average monthly power consumption is 16,870kWh. Actual power generation and power usage may vary.

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