LG NOVA Announces Fourth Annual InnoFest 2024, Invites Entrepreneurs, Investors and Startups to Innovate for Building a Better Tomorrow

A picture of the LG NOVA InnoFest hosted by LG NOVA, taking place September 25-26 at the Palace of Fine Arts in San Francisco

LG NOVA InnoFest Lights the Halo of Innovation on Bold Ideas and Businesses With
Open Conference Program, Issues a Call for Startups for the Pitch Competition

SAN FRANCISCO, July 16, 2024 — LG Electronics (LG) has opened registration for the fourth annual LG NOVA InnoFest, taking place on September 25-26, at the Palace of Fine Arts in San Francisco. Hosted by LG NOVA, LG Electronics’ North America Innovation Center, the two-day event will bring together a cross-section of business leaders, innovators and investors across various industries to collaborate on solutions for a better future. This year’s event theme, “Lighting the Halo of Innovation” was designated to inspire attendees to focus on creating change and impact through co-creation and collaboration on bold ideas and businesses.

The event brings back its annual Startup Pitch Competition, where 10 selected startups will compete to win cash prizes, an audience with executive judges and recognition on stage. In this competition, LG is looking for bold startups with great potential, working on innovative ideas that can lead to transformative change in their markets.

LG Electronics’ sister company LG Chem is co-sponsoring this year’s startup pitch competition, adding a new Life Sciences category alongside CleanTech, HealthTech, AI, Smart Life and Open Innovation. The US Business Development team is seeking next-generation technologies that align with LG Chem’s sustainability mission and will sponsor a new “Innovation for Impact Award.”

For more details on each category, visit www.lgnova.com/innofest/call-for-startups. Interested startups can submit their companies for consideration at www.lgnova.com/innofest/pitch-competition-application. In addition to the monetary prizes and on-stage recognition, selected startups may have the opportunity to collaborate with LG to build businesses, participate in LG NOVA-sponsored marketing activities or qualify for investments from LG and its network.

According to a 2023 study from Boston Consulting Group, 79 percent of companies ranked innovation among their top three priorities and more than 40 percent expect to increase spending significantly. Today, innovation is being driven by a collaborative ecosystem. This interconnected approach, involving startups, corporations, academia and venture capitalists can result in groundbreaking solutions. Innofest seeks to illustrate the capabilities of this model, bringing together startups, investors and members of the innovation community to exchange ideas, encourage, support and discuss how they can all work together to spur “innovation for a better life.”

“Today the responsibility for innovation no longer sits solely with individual companies; collaboration is critical,” said Dr. Sokwoo Rhee, corporate executive vice president for Innovation at LG Electronics and head of LG NOVA. “Through InnoFest, we are bringing together the entire innovation ecosystem, from corporations to growing startups, to discuss creative and cutting-edge ideas that have the potential to shape our future.”

Last year’s gathering brought 90 industry-leading speakers together for 28 sessions focused on topics such as women in tech; balancing growth, profitability and impact; as well as diversity in tech. The event enabled people to join in the discussions on solutions to challenges in these key areas within the innovation community.

This year, according to Rhee, “InnoFest is boldly reimagining its program to be more interactive and engaging through a non-traditional conference format, emphasizing meaningful connections and inspiring conversations.” Attendees can look forward to influential speakers and keynotes, select curated panels and more dynamic discussion-based sessions.

“At LG, we believe in the power of optimism and innovation to change the world,” said Rhee, who invited startups to join LG at InnoFest 2024, “as we strive to create a brighter future together.”

Registration for InnoFest is now open at innofest.lgnova.com. Interested in speaking or moderating at the event? Learn more at www.lgnova.com/innofest/speaker-application.

Only the Essentials: How LG OLED TVs Harmonize with Lifestyles and Interior Designs

A picture of an OLED TV in a home-like setting with artwork displayed on the screen

While the appearance of most appliances rarely changes, the television’s aesthetic is constantly evolving through its vibrant display. Positioned prominently in most people’s living rooms, the TV serves as a window to another world, transforming the space into a stadium one moment and providing panoramic views of the great outdoors the next. The atmosphere of the room often hinges on the placement of this essential device.

To ensure their design complements any room, LG’s latest lineup of TVs boasts a thinner form and slimmer bezels, providing complete immersion whether watching shows, films or playing games. These efforts extend to reducing the number of cables to eliminate clutter and visual distractions around the screen. Additionally, LG has paid close attention to the design of peripheral devices, such as soundbars, to ensure they harmonize with the room’s overall aesthetic. The driving force behind this new design direction is a deeper appreciation for people’s ever-evolving daily lives. Nowadays, people invest considerable time and effort into the layout and design of their homes, often seeking ways to place their TV in locations that better match their lifestyle, rather than simply following its conventional placement in the living room. The TV is evolving in response to emerging trends, more diverse lifestyles and consumers’ changing needs.

Photo credit (from left to right): the_starship from reddit (Model: OLED65G1), @zzomae_home (Model: OLED65A2MNA)

More Thoughtful Living Spaces
Naturally integrating a large TV screen into its surroundings can be challenging. While most large TVs tend to dominate the design of a living space, a large LG TV complements the interior, adding unique design elements that enhance depth and ambiance.

Photo credit (from left to right): @na.g__2 (model: OLED65B1VNA), Nice_Implement_2594 from reddit (model: OLED77G1)

The best decorated living rooms all have one thing in common: a TV that naturally integrates with the rest of the space under a unifying theme. To help home designers achieve this, LG OLED TVs fit flush to the wall like a picture frame, transforming the space to resemble an art gallery when placed centrally. These designs utilize the TV as a focal point to set the tone and evoke desired emotions, clearly emphasizing the TV as the ‘main character’ without compromising the room’s elegance and identity. This is why LG emphasizes the ‘essentials’ when designing LG OLED TVs, focusing on the inherent value of the TV in everyday life to create designs that bring people closer to their dream home.

Photo credit (from left to right): @twetwe_maison (model: OLED65G1), @today_daisy_ (model: 55LX1QKNA)

Seamlessly Blending into Living Spaces
Today’s TVs must be able to blend into their surroundings. While large-screen TVs often look best mounted on the wall, small and medium-sized TVs can be placed anywhere in the room to match the user’s lifestyle.

TV stands are providing people with the freedom to position their TVs where design and functionality are maximized. The simple yet elegant LG OLED Gallery Stand¹ accentuates content by resembling a canvas on an easel. Similar to the LG OLED Objet Collection Posé, this design frees up space and can serve as a room partition, offering new perspectives on interior design with a back that doesn’t need to be hidden away.

Flawless Designs Pay Attention to Unseen Elements
As lifestyles diversify and spaces expressing individuality increase, LG is innovating TVs that consider every design element, even the parts that are normally out of sight like the back of the TV. This helps them blend naturally into any space and achieve an unmatched sense of ‘harmony.’ To strike the ideal balance between elegance and functionality, every ornament and piece of furniture, including the TV, must harmonize under one concept. This desire for ‘harmony’ in the home is bringing exterior elements, such as natural light and natural materials, into the home as if they were seamlessly flowing from the outside to the inside. This is known as the “biophilic” design trend.

This image was created to aid understanding

A ‘biophilic’ décor incorporates natural materials like stone, wood and metal while utilizing nature’s most iconic colors and textures, appealing to our innate connection to the natural world. This emerging concept promotes the use of large windows to fill the house with natural light and the ‘planterior’ trend, which employs plants to elevate the ambiance, transforming the interior into a natural space for healing and relaxation. LG’s new design direction for its TVs aligns with ‘biophilic’ values, emphasizing visual comfort in a natural setting.

To keep pace with these trends and accommodate lifestyle changes, LG recognized the need to focus on details it had previously overlooked. This is why LG has redesigned the back panel of its TVs.

This image was created to aid understanding

Inspired by the tranquility found in nature, LG added a rustic sensibility to the LG OLED evo C4’s modern design with the ‘Statement Stone’ pattern. This feature mimics the look and texture of stone, adding depth and elegance to the space, while its natural ‘Umber Brown’ shade reinvents the back panel with a warm, nature-inspired tone. The emotions this design evokes harmonize with emerging trends, such as the ‘biophilic’ concept.

This image was created to aid understanding

The stand design, which has also evolved to suit different usage environments, is no different. With stands evolving with new TV designs, LG added a height adjustment function to some stands.² Although this may seem minor at first glance, its impact goes beyond expectations by allowing nearby devices, such as soundbars, to be positioned in a way that harmonizes with the TV as well as users’ diverse lifestyles.

This image was created to aid understanding

The same principles have been applied to the LG OLED M, the world’s first wireless OLED TV.³ To conceal peripheral devices and neatly organize the device’s cables, LG has removed every wire except the power cable with its Zero Connect Box,⁴ which wirelessly transmits video and audio to keep the area around the TV simple and clutter-free. By implementing a design that considers hidden, easily missed design details, the LG OLED M gives homeowners the opportunity to curate a space for their distinctive lifestyles.

By aiming for design perfection down to the smallest details, LG is developing TVs that naturally merge with the interior design without losing sight of the essential elements that make a TV so important in everyday life.

To learn more about how the LG HE Design Lab is providing new experiences that fit unique lifestyle with only the essentials, stay tuned to LG Newsroom.

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¹ LG OLED Gallery Stand requires separate purchase.
² Applies to LG OLED evo G4 55/65 models.
³ The phrase “world’s first wireless OLED” refers to OLED televisions with 120Hz 4k connectivity.
⁴ The TV and Zero Connect Box both require a power connection during operation.

LG Establishes New Air Solution R&D Lab in Europe, Strengthening HVAC Business Localization Strategy

An image of LG’s heating, ventilation and air conditioning (HVAC) solutions at the new Air Solution Research and Development (R&D) Lab in Frankfurt, Germany

New Facility to Focus on Development of Innovative HVAC Solutions
Tailored to Europe’s Diverse Regional Climates

SEOUL, July 15, 2024 — LG Electronics (LG) is establishing a new Air Solution Research and Development (R&D) Lab in Frankfurt, Germany. The state-of-the-art facility will join existing LG Air Solution Labs in Changwon, South Korea; and Atlanta, Georgia, USA, to form a global R&D triangle.

The new 10,000-square-foot lab will focus primarily on developing high-efficiency heating, ventilation and air conditioning (HVAC) solutions for Europe’s varied local climates. Research and testing will be carried out on a wide range of residential and light commercial HVAC systems, including heat pumps, energy monitoring systems and energy management platforms. Through executing an extensive, locally-focused R&D program, the Frankfurt lab will reinforce LG’s ability to provide HVAC solutions tailored for the European market.

Additionally, the new lab will collaborate with the company’s recently launched European Consortium for Advanced Heat Pump Research to develop heat pumps that can reliably deliver top-tier heating performance during Northern Europe’s harsh winters. To strengthen the capabilities of its European HVAC business, LG plans to nurture and actively recruit local talent in fields such as heat pump design and smart home technology.

A major focus for LG, the European HVAC market is expected to see significant growth in the coming years due to the European Union’s (EU) far-reaching energy policies. These include the REPowerEU^* plan, which aims to reduce energy consumption, diversify energy supply, expand renewable energy sources and decrease dependence on fossil fuels by 2030. Moreover, the EU-led Green Deal policy targets significant reductions in carbon emissions by 2030, with further reductions by 2040, to achieve a carbon-neutral society by 2050.

The EU’s energy policies have significantly increased the demand for high-efficiency electrical products, particularly high-efficiency heat pump heating and cooling systems. These systems offer reduced carbon emissions compared to conventional fossil-fuel-driven solutions.

LG’s HVAC solutions, including ultra-efficient heat pumps, are highly competitive due to the company’s advanced core component technology, or core tech. LG develops and manufactures key components such as compressors and motors, essential for air conditioning products and a variety of other appliances. The company also proactively invests in R&D to continuously enhance its industry-leading technologies, including heat exchangers, inverters and heat pumps.

To drive B2B growth and increase management efficacy, LG’s HVAC business is developing a comprehensive local system encompassing all operational areas, from R&D and sales to maintenance and customer service. As part of this initiative, LG has expanded its network of HVAC academies to 62 locations in 43 countries across North America, Latin America, Europe and Asia, training over 30,000 HVAC engineers annually.

“Along with developing differentiated HVAC solutions tailored to Europe’s regional climates, our new Air Solution R&D Lab in Frankfurt will support our ongoing global efforts in decarbonization and electrification,” said James Lee, head of the Air Solution Business Unit at LG Electronics Home Appliance & Air Solution Company. “LG will continue to strengthen its HVAC leadership in Europe and globally.”

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^* The EU’s REPowerEU plan has decreased gas consumption by 18 percent, and dependence on Russian fossil fuels has dropped from 45 percent in 2021 to 15 percent in 2023. (commission.europa.eu/strategy-and-policy/priorities-2019-2024/european-green-deal/repowereu-affordable-secure-and-sustainable-energy-europe_en)

Celebrating the European Championships with Exclusive Promotions in Germany and Malaysia

A picture of a back of a man in a soccer uniform with Life's Good written on it on a TV screen

Last month, Europe’s biggest football competition kicked off in Germany. With the final scheduled for July 14, LG offices around the world announced various promotions to give football fanatics an opportunity to experience every kick of the ball as if they were witnessing it in person, all from the sublime comfort of home.

As our office in the host country, LG Germany implemented various promotion campaigns and highlights to ensure consumers could live every world-class goal and line-breaking assist during the four-week celebration of ‘the beautiful game.’

On its socials, LG Germany raffled a CineBeamQ projector at the beginning of the championships, making private viewing with friends as immersive as it is memorable. And to let local sports fans enjoy every game to the fullest, the company also shared its Life’s Good Fan Snack recipe for half time. A new Life’s Good Fan Snack recipe is shared every month and can compliment other sport occasions like the championships.

For those who prefer watching sports on their TV – perhaps because live broadcasts provide replays of every major event and closer shots of the action – LG Germany offered several valuable promotions such as a national cashback campaign for selected LG TVs and soundbars, which replicate the stadium’s atmosphere in the living room, with up to EUR 5,200 cashback.

Photo credit: Kevin Trapp’s Instagram

LG OLED evo TVs have set new standards in TV processing technology, boasting unbeatable picture quality after years and years of pioneering innovation. In the same way, it takes over a decade of practice until a footballer can even think about turning pro, let alone being called up to the national team. So, who better to show off the prowess of LG OLED evo TV than German footballers Kevin Trapp and Niclas Füllkrug?

Photo credit: Niclas Füllkrug’s Instagram

Niclas Füllkrug not only enjoys watching the big game on his LG OLED evo TV but also entertains thousands of football fans sitting at home in front of their TV by scoring crucial goals for club and country, like his stoppage-time equalizer against Switzerland in the group stage. LG Germany is proud to work with exceptional footballers both on and off the pitch, celebrating the joy football brings to billions of people around the world during the European Football Championship.

And, before the championships even began, LG Germany’s football-related marketing activities were launched with a fantastic shirt raffle on its social media channels alongside an online store sales event, offering ten sets of tricots for sports clubs up for grabs.

With many European players being household names across the world, the excitement for the Euros extends far beyond Europe. Committed to ensuring customers enjoy the Life’s Good experience all year round, particularly during football season, LG Malaysia launched its Frenzy Bola Bola promotion in May. This initiative provided ample opportunities for locals to immerse themselves in the play by scoring some amazing deals on LG products.

In addition to major savings, customers could also win an exclusive trip to Europe and enjoy rebates of Touch ‘n Go eWallet credits upon purchasing selected LG products. These products include 2024 LG OLED TV, Soundbar, WashTower, Styler, InstaView refrigerator, CordZero vacuum, ARTCOOL air conditioner, and PuriCare Water Purifier and Air Purifier.

LG’s home entertainment lineups are fully equipped with innovative technology to ensure viewers feel like they’re living the action from kickoff to final whistle without leaving their home. Powered by unparalleled LG OLED technology, the company hopes consumers can cheer on their teams and believe that ‘Life’s Good’ when we can enjoy our greatest passions without limitations.

Contributed by LG Germany and LG Malaysia

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From Detection to Recovery: “Together Against Cancer” Initiative Empowers Full Circle of Care

A picture of a group of people gathered around with LG employees and program-related people

Life can surprise you with unexpected detours, like a wrong turn on a familiar journey. We frequently take our health for granted, only to find it placing an unforeseen burden on ourselves and our families. Cancer, the second leading cause of death worldwide, can appear out of the dark and change our lives at any moment. Although early detection is crucial in getting a step ahead of the disease, not everyone has access to the necessary screenings or care to give them the best chance to beat it.

A recent study* revealed India’s declining health, especially the rising cases of cancer. There are now 100 cases for every 100,000 people, which is expected to rise above the global average in the next few years – from 1.39 million in 2020 to 1.57 million by 2025.

Alarmed by the way things are heading, LG India joined forces with the Indian Cancer Society in 2022 to embark on its “Together Against Cancer” initiative, aiming to support patients throughout their recovery journey.

At its core, “Together Against Cancer” focuses on providing cancer screenings across various regions in India. However, the initiative extends beyond early detection; it also aims to raise cancer awareness, ensure comprehensive treatment for diagnosed individuals and improve the quality of life for underprivileged patients.

LG India is committed to making a significant impact by ensuring patients receive the necessary care and support. Whether through screening, treatment or survivorship support, the company is dedicated to being there every step of the way.

To provide comprehensive support to the less fortunate, the program includes various activities across social media platforms, radio and cinema to emphasize the importance of early cancer detection. Efforts are also being made to reach the younger generation, with educational classes in schools and colleges designed to empower young people to take charge of their health.

To maximize outreach, LG India is organizing screening camps in various cities, with an aim to reach approximately 10,920 beneficiaries by the end of this program. The goal is to detect cancers early to improve treatment outcomes.

Understanding the financial burden of a cancer diagnosis, LG India extends critical financial support to the most underprivileged patients. This support covers surgery, radiation, chemotherapy and prosthetics, ensuring that cancer patients from all walks of life have the resources they need to fight their battle.

Recognizing that the fight against cancer doesn’t end with treatment, LG India offers counseling to survivors and their families to help them achieve mental well-being. This support also includes educational assistance for students and funding for vocational courses, equipping survivors with the tools they need to rebuild their lives.

The comprehensive support system is a testament to LG India’s commitment to improving the lives of cancer sufferers and their families, embodying the true meaning of Life’s Good.

To date, a total of 4,530 people have been screened for oral, breast and cervical cancer at 63 camps in Pune, Thane, Noida and Varanasi. Support has been extended to more than 21 survivors, helping them attend school or pursue higher education in fields such as engineering, pharmaceuticals, IT, commerce and humanities.

The collaboration with the well-established Indian Cancer Society, active for 70 years, adds credibility and experience to the initiative. This partnership exemplifies how kindness and collaboration can be powerful weapons in the fight against cancer. With LG India’s “Together Against Cancer” program, cancer care is becoming a little brighter, one precious life at a time.

Contributed by LG India

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*Study released by the Indian multinational healthcare group, Apollo Hospitals.

[Customers at Heart] LG US Captures the Hearts of Refund-Seeking Customers

A picture of a woman smiling while looking at MyLg Rewards with a tab

In the fourth episode of our ‘Customers at Heart’ series, we dive into how LG US has boosted customer satisfaction by revamping its refund system through the Online Brand Shop (OBS).

Imagine purchasing a brand-new washing machine or refrigerator, only to have it malfunction unexpectedly with no feasible repair options. Even with a full refund, such an experience can leave a sour taste. To rectify this, LG US initiated a collaborative project aimed at overhauling the refund process to enhance the customer experience. Six teams – the North America Strategy Team, DXP OX Team, DXP TDI Team, Service Corporation Call Center Team, Service Corporation Planning Team and the North American Accounting Team – voluntarily joined forces to develop a more efficient and customer-centric refund system.

The initiative targeted customers whose products had malfunctioned under the warranty period but were unable to receive a repaire due to discontinued parts or other impracticalities. To provide alternatives to a one-time cash payout, the company sought ways to retain customers and encourage future purchases by introducing rewards through the OBS of LG US, the official website where customers in the US can directly purchase products online.

Analyzing core customer grievances, the company endeavored to reform the existing cash refund policy for an easy and more pleasant process. To foster a positive customer experience, LG US developed MyLG Rewards, an OBS rewards program that offers a 110 percent points refund and encourages customers to actively use the points through a convenient and user-friendly system.

The company took proactive action to identify potential issues of the new OBS refund policy, monitoring real cases to finalize the best possible IT asset monetization process. LG US also implemented specialized training for call center staff and expanded operations to improve the overall customer experience and get ahead of any issues that could arise from the new system.

After the introduction of MyLG Rewards, the company conducted regular surveys targeting customers who received refunds. These surveys aimed to gauge customer satisfaction, track the likelihood of repurchasing LG products and monitor the frequency and duration of OBS visits. In addition to analyzing the percentage of refund customers who became new OBS members, the company also examined when customers used OBS points as well as any additional purchases made through the system.

As of October 2023, the survey results indicated high customer satisfaction, with those who utilized MyLG Rewards rating the process an average of 4.7 out of 5, compared to a 3.3 rating from refund customers in general. Customers who used MyLG Rewards also expressed a higher propensity to repurchase from the brand, with 71 percent stating they would buy LG products again, compared to 50 percent by refund customers in general.

Overall, approximately 40 percent of refund customers shared that they have regained trust in the LG brand after the introduction of the OBS point system. Those who used OBS for the first time reportedly visited the shop more frequently and for longer periods of time, and 64 percent of customers made additional payments through OBS even after using up their points.

The success of the LG US initiative has prompted expansion plans to LG Canada within the year and the launch of an OBS membership program that will offer differentiated benefits based on OBS points and membership tiers. The company has also rolled out the LG Referral Program, which enables customers to earn rewards by referring friends and family.

Through these initiatives, LG US has revolutionized the customer experience for those seeking refunds, ensuring that these customers continue their ownership experience (OX) journey with the OBS rewards system.

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LG Calls for Developers to Participate in LG webOS Hackathon 2024

Selected Finalists to Receive Funding to Develop and Launch
Their Gaming or Lifestyle App on LG Smart TVs

SEOUL, July 9, 2024 — LG Electronics (LG) announced a call for participants for its annual global webOS hackathon, with a focus this year on AI-based solutions and gaming services. Developers worldwide are invited to apply and submit their apps for a chance to win a significant monetary prize along with the opportunity to present onstage to LG executives in Seoul, South Korea, this September.

As a web-centric platform with an easy-to-use Smart TV software development kit, webOS enables developers to create third-party services and apps for millions of homes worldwide. The platform offers developers the tools to create apps and services that engage media, devices, security, networking, Smart TV functionalities and more. Through this hackathon, developers will have the opportunity to build and launch their app on LG Smart TVs, directly reaching consumers with their business.

Powering LG Smart TVs, including the award-winning LG OLED TV, for over a decade, webOS platform has been acclaimed as a friendly user interface, with easy navigation and customization to provide users with the premium entertainment experience expected from LG products. Now, with an always-growing ecosystem of global partners, the webOS platform is set to drive the next generation of service innovation.

In addition, LG is committed to expanding the webOS ecosystem by partnering with leaders in the gaming industry. This collaboration aims to offer customers a wide range of gaming services tailored to diverse preferences and interests, while enhancing the gaming capabilities of its exceptional OLED TVs. LG Smart TVs in global markets now feature an increasing array of cloud gaming services and family-friendly games.

To participate in the hackathon, applicants will need to submit their applications online. Applications for the hackathon are now open and will close on July 26. Following the application process, participants will be invited to a webinar to learn more about the API and hackathon details. Finalists will be notified by mid-September.

For more information about the hackathon, including detailed event schedules with terms and conditions, visit weboshackathon.lge.com.

The hackathon will begin with a virtual webinar in early July. Participants will choose to create a game or lifestyle service app using either the Web or Flutter framework, with the opportunity to earn additional merit points for utilizing AI. The app, scenario and demo video must be submitted by August 26. Selected winning developers will then be invited to Seoul to present their ideas in front of top LG executives on September 27.

Cash prizes will be awarded to the top three winners of the hackathon, with a USD 100,000 Grand Prize for first place, USD 80,000 for second place and USD 50,000 for third place. The winners will also receive technical support leading up to the rollout of their app as well as on-device promotional opportunities after the launch. Winning apps must be ready for release on the LG Content Store by the end of June 2025.

“LG webOS Hackathon 2024 aims to attract creators worldwide who are building lifestyle solutions,” said Chris Jo, senior vice president of platform business at LG Home Entertainment Company. “LG is committed to engaging with the gaming community on a global scale, partnering with developers to nurture the next generation of talent using LG’s developer platform.”

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LG Honored at Volkswagen Group Award 2024

A photo of three men smiling on stage at Volkswagen Group Award 2024

Recognized in the Partnership Category of Volkswagen’s Annual Awards for Suppliers,
LG Reaffirms Its Status as a Leader in Automotive Electronics

SEOUL, July 8, 2024 — LG Electronics (LG) has been honored at the Volkswagen Group Award 2024, which took place in Wolfsburg, Germany, on July 2. LG was recognized by the Volkswagen Group, one of the world’s premier automakers, in the ‘Partnership’ category for its outstanding development, manufacture and supply chain management of mobility technologies and solutions, including in-vehicle infotainment systems and connectivity products. The award highlights LG’s unwavering commitment to excellence and points to its growing reputation in the automotive sector as a trusted partner and innovation provider.

Established in 2002, the Volkswagen Group Award is held annually to honor the Wolfsburg-headquartered company’s top suppliers. This year’s Award recognized a total of 10 suppliers and featured 10 different categories, including Partnership, Sustainability, Digitalization and Transformation.

LG’s partnership with Volkswagen Group spans several years, during which LG has supplied a range of advanced automotive solutions, such as infotainment systems, automotive displays, digital cockpits, augmented-reality head-up display (AR HUD) technology and cockpit domain controller (CDC) solutions. In 2015, LG participated in Volkswagen Group’s Fast Automotive Supply Tracks (FAST) program, and in 2017, LG received the Technology and Innovation Award from Volkswagen Group for its outstanding infotainment technology.

“The past, present and future success of the Volkswagen Group is only possible with strong partners,” said Dirk Große-Loheide, Member of the Extended Executive Committee and Member of the Volkswagen Brand Board of Management responsible for procurement. “The anniversary of the Volkswagen Group Award highlights the importance we place on close, partnership-based cooperation with our suppliers and underscores the esteem that goes with this.”

“We are deeply honored by this prestigious accolade and look forward to continuing our strong partnership with Volkswagen Group,” said Eun Seok-hyun, president of LG Vehicle component Solutions Company. “LG is committed to driving innovation in the mobility sector and to working closely with its industry partners to deliver differentiated products and exceptional customer experiences.”

Since entering the mobility solutions market, LG has won multiple awards from automakers for its dependability as a supplier and for the quality of its advanced vehicle components and systems. Last year, LG was named the best supplier in the areas of infotainment and telematics at GM’s 31st Annual Supplier of the Year Award. In 2020, LG was acknowledged by the Mercedes-Benz Group for first-class performance and partnership, and by the Renault Group for state-of-the-art vehicle display technologies.

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LG’s Endangered Species Awareness Campaign Continues with the Bald Eagle

An image of the Times Square billboard with the 3D eagle on it

To celebrate Earth Day 2024, LG USA launched the LG Endangered Species Series, a 3D anamorphic experience featured on the company’s Times Square billboard in New York City. This digital out-of-home (OOH) campaign, set to run throughout 2024, aims to spotlight the world’s most vulnerable and endangered species, emphasizing the importance of protecting both endangered and recovered species. LG also seeks to inspire K-12 students to engage with conservation efforts through partnerships with Discovery Education and the National Wildlife Federation.

In honor of Independence Day on July 4, LG unveiled the bald eagle, America’s national bird and a symbol of freedom, as the second animal in the series.

The new 3D campaign video addresses habitat loss, showing the bald eagle journeying from New York to the Grand Canyon in search of a new home. This installment follows the successful debut of the snow leopard campaign, which has garnered nearly 3 million views since its launch in April.

To broaden awareness of endangered species, LG teamed up with another American icon, the New York Yankees of Major League Baseball. During the Yankees’ home games from July 2-4, LG hosted a table at Yankee Stadium where the first 250 children aged 14 and under each day received gift bags containing a bald eagle plush toy and binoculars for bird watching.

Additionally, 10 of these bags included a baseball autographed by a current or former Yankees player. Visitors to the table could also interact with National Wildlife Federation experts and take photos with an artistic rendering of a bald eagle’s six-foot wingspan.

LG is dedicated to creating a more sustainable planet and, as a part of this commitment, will be aiding the National Wildlife Federation in planting native trees. These trees will create wildlife habitats, prevent soil erosion and increase canopy coverage in communities across the United States.

The LG Endangered Species Series will continue throughout the year, featuring animals like the Galapagos sea lion and reindeer. Together with global education specialist Discovery Education, LG remains committed to raising awareness for endangered species through the distribution of educational material online for free. Standards-aligned digital resources on the bald eagle and other animals from the LG Endangered Species Series are readily available for educators and students through Discovery Education at endangered-species-series.discoveryeducation.com.

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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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