LG Empowers Youth With Disabilities at Global IT Challenge in Manila

104 Young Participants From 16 Countries Showcase IT Skills,
Embracing New AI and Coding Challenges

A picture of the 2024 Global IT Challenge winners

SEOUL, Nov. 8, 2024 — LG Electronics (LG) recently concluded the 2024 Global IT Challenge (GITC) for Youth with Disabilities in Manila, Philippines, reinforcing its commitment to empowering young people with disabilities. Held from November 3-8, this year’s GITC brought together 104 participants from 16 countries to compete in six innovative IT challenges.

After advancing through national preliminary rounds, the finalists tested their abilities across diverse digital tasks. The challenges included eTool, which assessed participants’ ability to create presentation slides and manage spreadsheets; eLifeMap, which focused on online search and image retrieval skills; eContent, an evaluation of video editing and production capabilities; and eCreative, where participants coded a self-driving car program and proposed technological concepts aimed at enhancing the quality of life for people with disabilities.

This year, GITC introduced a new assessment for generative AI proficiency, allowing participants to demonstrate adaptability and creativity – skills increasingly sought after in the IT field.

The 2024 GITC winner, Zulzahirah Binti Mohd Anwar from Malaysia, excelled across multiple categories, expressing pride in competing alongside peers with shared aspirations and in building global friendships.

Since its inception in 2011, GITC has opened pathways into the IT profession for young people with disabilities, equipping them with ICT skills and boosting their confidence. Over 13 years, the competition has seen approximately 5,000 young participants from 40 countries, with many alumni pursuing successful careers in IT and related fields. Notably, Aikeo Koomanivong, a visually impaired 2014 participant, now directs a disability service center in Laos, where he has pioneered accessible technologies, including free braille software.

Aligned with LG’s Better Life for All vision, GITC embodies the company’s broader commitment to diversity and inclusion. LG is also actively working to enhance the accessibility of its services and products through initiatives such as the LG Comfort Kit, braille stickers and sign language customer service centers.

“GITC has been a stepping stone for nearly 5,000 young adults with disabilities, empowering them to overcome barriers and become competitive IT talent,” said Yoon Dae-sik, senior vice president of External Relations at LG Electronics. “We remain dedicated to supporting individuals with disabilities as they refine their skills and build self-confidence, helping them realize their dreams in IT field.”

Through GITC and similar initiatives, LG continues to champion inclusivity and accessibility, providing young people with disabilities the tools and support needed to thrive in a technology-driven world.

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LG Unveils “PROFESSIONAL LAUNDRY” Lineup for Commercial Market at Texcare 2024

Equipped With Cutting-Edge AI Technologies, the Company’s Large-Capacity
Commercial Washers and Dryers Deliver Excellent Energy Efficiency

A photo of LG’s booth showcasing its PROFESSIONAL LAUNDRY lineup at Texcare International 2024

SEOUL, Nov. 7, 2024 — LG Electronics (LG) is showcasing its PROFESSIONAL LAUNDRY lineup at Texcare International 2024, a global B2B laundry and textile care exhibition, held in Frankfurt, Germany, from November 6-9. Prioritizing energy efficiency, the new lineup features a variety of large-capacity solutions, including 30-kilogram washers and dryers, as well as a washer-dryer combo with heat pump, offering a maximum capacity of 25 kilograms for washing and 16 kilograms for drying. With the launch of its PROFESSIONAL LAUNDRY lineup, LG aims to strengthen its position in the commercial laundry market, both in Europe and worldwide.

LG’s comprehensive range of large-capacity commercial washers and dryers provides several outstanding options for customers to choose from. The new PROFESSIONAL LAUNDRY lineup features 20-, 25- and 30-kilogram washers, as well as 25- and 30-kilogram dryers, along with a 25- kilogram washer-dryer combo. These solutions are equipped with LG’s advanced AI technology, which automatically adjusts water usage and washing/drying times based on load size, enabling a complete cycle in just 60 minutes.*

Along with energy efficiency, LG’s PROFESSIONAL LAUNDRY lineup boasts outstanding durability. The new washers feature the company’s Ball Balancing System, which supports a maximum spin speed of 1,100 RPM and enhances stability during high-speed washing cycles. The 25-kilogram washer-dryer combo stands out as one of the largest models in the heat pump combo category and is the industry’s first commercial combo to employ an inverter heat pump drying module. This proprietary technology significantly reduces drying times and boosts energy efficiency. Ideal for businesses with high laundry demands, such as hotels and care facilities, LG’s impressive heat pump combo represents a reliable, energy-efficient alternative to traditional gas and electric dryers.

LG’s commercial laundry solutions deliver further value with Proactive Customer Care, a smart service that actively monitors the machines’ operational data to identify potential issues before they arise. This service sends alerts to facility managers through the LG Laundry Crew app, allowing them to take preventive measures and avoid any service interruptions. In addition, the machines are equipped with features designed to safeguard performance, such as Tub Cleaning, which helps maintain hygienic conditions within the drum.

Since entering the global commercial laundry market in 2008, LG has consistently expanded its influence within the segment. Earlier this year, the company strengthened its partnership with WASH, a leading North American laundry service provider, to increase its presence in the growing U.S. and Canadian markets for laundry solutions in multi-family housing and university dormitories. LG also continues to showcase its innovations globally, with a successful appearance at the Clean Show 2022 in the U.S. and now at Texcare International 2024 in Germany.

With its new PROFESSIONAL lineup leading the way, LG plans to continue expanding its presence in Europe’s commercial laundry solutions sector. The company’s high-efficiency washer and dryer technologies will play a key role in helping commercial laundry operations lower their energy consumption.

“Building on our success in the residential washer and dryer market, we are now accelerating our efforts to lead the commercial laundry sector and are excited to launch our innovative, energy-efficient PROFESSIONAL LAUNDRY lineup,” said Lyu Jae-cheol, president of LG Electronics Home Appliance & Air Solution Company. “Texcare International 2024 is a notable opportunity to grow our commercial laundry business and strengthen our standing in the global market, particularly in Europe.”

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* Based on an IEC standard load of 7 kilograms for washing and drying courses. Actual results may vary depending on usage environment and washing conditions.

LG’s Innovative Vehicle AR Technology Recognized at 2024 Technology Patent Awards

Simplifying Complex Driving With Intuitive Navigation Guidance

A real-life demonstration picture of the navigation guidance technology in the vehicle

SEOUL, Nov. 6, 2024 — LG Electronics (LG) has been awarded the prestigious “King Sejong Award” at the 2024 Technology Patent Awards for its pioneering augmented reality (AR) technology designed for vehicles. This annual event, organized by the Korean Intellectual Property Office, recognizes patents registered within the past decade that contribute to enhancing South Korea’s industrial competitiveness.

The patent for LG’s advanced vehicle AR technology was submitted both domestically and internationally in 2022. This innovative system aims to improve the future mobility experience by leveraging AR to visualize various driving scenarios. It generates 3D graphics that provide vehicle information and navigation guidance on in-vehicle displays.

Driving can often be confusing, especially on complex roads or unfamiliar routes, where estimating distances or directions becomes challenging. LG’s in-vehicle AR technology alleviates this confusion by providing clear guidance lines that drivers can easily follow. The system employs sophisticated algorithms to integrate data from various vehicle sensors, including smart cameras, navigation systems and driver assistance sensors, along with external data sources. By harnessing information from GPS, Advanced Driver Assistance Systems (ADAS) and vehicle-to-everything (V2X) technologies, the system can predict potential hazards and accident risks based on the vehicle’s location and surrounding environment, thereby enhancing safety during journeys.

A key feature of LG’s patented technology is its ability to display dynamic AR images. This capability makes route guidance more intuitive by adjusting the symbols representing the vehicle and directional guidance – such as combining a spade and chevron into an arrow shape or separating them – based on real-time driving conditions. The AR graphics can seamlessly separate, transform and merge, allowing the system to visually convey complex driving information, such as speed, incline, lane changes and route recalculations, in a manner that can be easily understood by the driver.

LG plans to leverage this advanced vehicle AR technology to develop future mobility solutions for global automakers and accelerate the development of new mobility software. The company also aims to generate royalty-based revenue from the patent.

“LG is excited to utilize its award-winning AR technology to create mobility solutions that elevate driver convenience and contribute to safer roads for everyone,” said Kim Dong-wook, head of the B2B Advanced Technology Center at LG Electronics. “Moving forward, we will continue to refine our AR technology to ensure compatibility across all vehicle platforms. We anticipate that this exciting innovation will significantly contribute to the growth of our software business.”

 

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LG Accelerates Vietnam R&D Operations With Multi-Industry Focus

LGEDV Emerges as Strategic R&D Hub, Expanding Research Portfolio  
to Automotive Components, webOS and Home Appliances  

A photo of LG logo

SEOUL, Nov. 5, 2024 — LG Electronics (LG) is strengthening its research and development (R&D) capabilities in Vietnam, expanding its local research program into areas including vehicle components, the webOS platform and home appliances.  

This year, LG’s Vietnamese R&D subsidiary, LG Electronics Development Vietnam (LGEDV), has integrated living, kitchen and air solutions – all considered core products – into its software development and verification portfolio.  

LG established its local R&D network in Vietnam in 2016 with the opening of the R&D Center in Hanoi. Growing its on-the-ground capabilities, the company set up two additional R&D branch offices in Haiphong and Da Nang in 2020. Last year, LG reorganized its Vietnamese research structure, bringing the VS R&D Center under the auspices of LGEDV, which has now become one of the company’s key research institutes in Southeast Asia. 

LGEDV primarily focuses on software development and verification for LG’s In-Vehicle Infotainment (IVI) systems, which are central to the company’s strong performance in the B2B mobility solutions sector. The IVI business, which covers telematics, Audio Video Navigation (AVN) and clusters, accounts for more than 50 percent of all revenue generated by LG’s vehicle component solutions business. In addition to IVI systems, LGEDV has been involved in the development of the webOS platform since 2022, and has expanded its scope to include home appliances this year. 

LG is continuously strengthening its R&D competencies in Vietnam through various recruitment and talent development initiatives, including in-house training programs led by experts from LG headquarters. The company has successfully attracted and nurtured talented individuals from Vietnam’s young, well-educated population. 

Vietnam’s highly-skilled R&D workforce continues to grow, supported by the government’s aggressive R&D talent development strategies, which center on the cultivation of ICT talent at Hanoi National University. According to Vietnam’s General Statistics Office, the country’s population exceeded 100 million last year, with people under the age of 40 accounting for approximately 60 percent of the total populace. 

Indicative of the caliber of Vietnam-educated developers, five out of ten coding experts selected by LG last year were from LGEDV. Huynh Tan Y, a researcher with LGEDV, won the LG Coding Competition at the LG Software Developer Conference (SDC) 2023, which involved around 100 developers from all across the LG Group. 

LGEDV currently employs around 1,100 research staff, with plans to increase this figure to over 1,200 by the end of the year. A testament to LG’s effectiveness in the area of R&D recruitment and talent development, the company’s rapidly-growing Vietnamese R&D workforce numbered only 200 as recently as 2019. 

LG is building a global system of close R&D cooperation, with Korea at its center, and aims to further strengthen its capabilities in product development and technology research. 

The company maintains research institutes and development teams under each of its business units, with the CTO division developing core technologies from a mid to long-term perspective. In Korea, LG has R&D arms in Seocho, Yangjae, Gasan, Incheon, Changwon and Magok, while internationally, it operates 22 research institutes spanning North America, Europe, Japan, India and Vietnam. These institutes focus on global R&D activities and business responses geared toward identifying future growth engines. 

Along with world-class R&D centers, LG’s Vietnam operations encompass manufacturing facilities in Haiphong, producing washing machines, refrigerators, vacuum cleaners and IVI products, as well as a sales subsidiary in Hanoi. 

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World’s First LG Wireless Transparent OLED TV Named to TIME’s Best Inventions of 2024 List

LG SIGNATURE OLED T and CineBeam Q Honored
for Their Groundbreaking Innovation and Unprecedented Design

A picture of the LG SIGNATURE OLED T in a living room-like setting

ENGLEWOOD CLIFFS, N.J.Nov. 1, 2024 — This week, TIME revealed its annual list of the Best Inventions, naming the LG SIGNATURE OLED T to the list which features 200 groundbreaking innovations changing the world. Debuted at CES 2024, the LG SIGNATURE OLED T is the world’s first consumer transparent TV with transparent 4K OLED screen and LG’s wireless video and audio transmission technology, transforming users’ viewing experience with unprecedented freedom. Additionally, the LG CineBeam Q 4K UHD Smart Portable Laser Projector received a special mention for its sleek design, light form factor and performance.

TIME’s Best Inventions of 2024 list is compiled by nominations from TIME’s editors and correspondents around the world, and through an online application process, evaluating a variety of industries and sectors such as consumer electronics, education, sustainability and robotics. Each submission is evaluated on several key factors, including impact, reach, creativity and effectiveness. See the full list here: time.com/collection/best-inventions-2024/

Of this year’s list, TIME’s editors write: “The result is a list of 200 groundbreaking inventions (and 50 special mention inventions)—including the world’s largest computer chip, a humanoid robot joining the workforce, and a bioluminescent houseplant—that are changing how we live, work, play, and think about what’s possible.”

Revolutionizing the world of home entertainment, the LG SIGNATURE OLED T transforms how we experience screens in our homes. This groundbreaking innovation not only delivers stunning visuals but also features a breathtaking transparent display that seamlessly blends into your environment when not in use. With its ultra-slim design, the LG SIGNATURE OLED T transforms into an elegant piece of art, enhancing any room’s aesthetic. Advanced wireless technology enables the transmission of 4K video and audio without the clutter of cables, offering a truly immersive viewing experience. The TV boasts exceptional picture quality, showcasing vibrant colors and deep contrasts, setting a new standard in home entertainment. With the LG SIGNATURE OLED T, LG is pioneering a future where technology and design coexist beautifully.

With its compact design and powerful performance, the CineBeam Q delivers stunning 4K resolution and vibrant colors, transforming any space into a captivating theater. This state-of-the-art projector features advanced laser technology, ensuring exceptional brightness and clarity, even in well-lit environments. The LG CineBeam Q also offers versatile connectivity options, allowing seamless streaming from various devices, making it perfect for movie nights or gaming sessions. With its user-friendly interface and compact form, the LG CineBeam Q is designed to enhance your entertainment experience, setting a new standard for home projection.

Furthermore, Signature Kitchen Suite’s 30-inch Combi Wall Oven, a product in the latest Transitional Series delivering a chic, minimalist appearance, has also been recognized as one of the Best Inventions of 2024 in the Household category.

To learn more about the LG SIGNATURE OLED T and CineBeam Q, visit LG.com.

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Empowering Communities: Transformative Solutions for Challenging Environments

In alignment with its Better Life for All initiatives, LG is fostering sustainable growth in local communities around the world through the “LG Ambassador Challenge 2024,” which ran from February to October this year. Now in its 8th year, this initiative empowers local residents by bringing their ideas to life, recognizing that those who live in these challenging environments understand their needs best and how to address them with support.

The primary goal is to help locals achieve sustainable self-reliance by suggesting practical improvements tailored to their unique challenges, such as inadequate social facilities or poor educational standards. To assist them, LG collaborates on problem-solving projects designed to enhance their social and cultural living conditions.

To date, LG has implemented 76 successful projects in South Africa, Côte d’Ivoire, Ghana, Kenya, Peru, the Philippines, Bangladesh, Cambodia and Sri Lanka, significantly improving the quality of life for thousands of often-overlooked citizens around the globe.

This year’s program, held in Kenya, Peru, Bangladesh and the Philippines, successfully implemented 10 out of 377 submitted project proposals, evaluated based on their social impact and efficiency. In Bangladesh, a project focused on empowering women as a means of alleviating poverty. In the Philippines, a mobile visiting library was created to enhance access to books, providing invaluable knowledge to the community. In Kenya, an initiative was launched to improve IT education in rural areas, including Ntinyika primary school, equipping students with valuable IT skills for future success.

Notably, the “Atrapanieblas” project held in the Peruvian city of Lima was recognized as this year’s most impactful initiative. It introduced an ingenious solution to combat water scarcity in a coastal desert region characterized by dense fog and low annual rainfall. The project involved installing a fog capture network in the mountainous coastal area, converting fog and overnight water vapor into clean, drinkable water for 85 local households.

“I was unaware that the fog I wake up to every morning could be harnessed to improve our daily lives. I’m delighted that we had the opportunity to come together, brainstorm ideas that could benefit our community, and see LG bring it to fruition,” said Pomela, a participant from the affected area.

Meanwhile, LG is supporting other potentially life-changing initiatives, such as the Hope Village project, which aids housing for vulnerable groups, and the LG-KOICA Hope TVET College, which provides free vocational education to low-income youth.

To discover a whole library of LG’s local initiatives to create a better life for people around the world, head to the LG Newsroom.

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Innovation Takes the Stage: LG NOVA Reveals 2024 Startup Pitch Winners

A picture of the Startup Pitch Competition winners taking a picture on stage

SANTA CLARA, Calif., Oct. 29, 2024 — Showcasing cutting-edge technological solutions, LG NOVA, the North America Innovation Center of LG Electronics, announced the winners of the 2024 Startup Pitch Competition, co-sponsored by LG Chem. This year’s event, held during LG NOVA’s annual InnoFest in San Francisco, featured standout startups focused on Life Sciences, Open Innovation, HealthTech, AI, Smart Life and CleanTech, with three companies recognized for their potential to drive impactful change.

Ten startups competed for cash prizes and recognition in front of a panel of industry experts, LG executives and investors. The 2024 winners are:

  • First Place: mDETECT Inc. – mDETECT has developed highly-sensitive cancer blood tests using DNA sequencing, offering a universal approach to monitoring therapy response and detecting cancer progression. The company received the top prize of USD 15,000.
  • Second PlaceGlidance – Glidance is revolutionizing independent mobility for people who are blind or have low vision with Glide, the first AI-powered intelligent guide, which enhances confidence, safety, and autonomy. Glidance was awarded USD 10,000.
  • Innovation for ImpactOncoustics – Oncoustics is transforming low-cost point-of-care ultrasound devices into powerful diagnostic tools for early detection and monitoring of liver diseases using AI. Oncoustics received USD 10,000 for its selection as Innovation for Impact company. This award category was sponsored by LG Chem.

In addition to cash prizes, participants will have the chance to explore further collaboration through LG NOVA’s Mission for the Future Program, which seeks to support innovative startups through potential collaborations, partnership programs, marketing opportunities and other resources.

“We’re excited to recognize startups that are truly pushing the boundary of what’s possible, developing technologies that have the potential to make an impact on people’s lives,” said Dr. Sokwoo Rhee, corporate executive vice president for innovation at LG Electronics and head of LG NOVA. “These companies are leading the way in critical fields like healthcare, cleantech, AI and life sciences and we look forward to exploring opportunities with them as they continue to advance their innovations. Together, we can shape a brighter tomorrow by driving meaningful change through collaboration.”

The fourth annual LG NOVA InnoFest brought together industry leaders, investors and startups to explore emerging technologies in a collaborative environment. This year’s theme, “Lighting the Halo for Innovation,” emphasized the importance of co-creation in driving meaningful progress. The festival featured over 70 speakers, covering topics ranging from building successful ventures and the future of AI to innovative digital care models, energy management and more.

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Crafting Vietnam’s Dream Home: LG and AKA Furniture’s Vision of Elegant, Smart Living

LG Objet Collection epitomizes artful home appliances that seamlessly complement any space. And since beauty is not just on the outside, each appliance boasts innovative technology and leverages the LG ThinQ platform to ensure a smarter home that prioritizes convenience.

To help consumers realize their dream homes – spaces that embody convenience and evoke positive emotions – LG Vietnam teamed up with AKA, a leading interior design brand that has propriety rights of over 30 famous furniture brands. Together, they crafted inspiring living space concepts showcased in BoConcept showrooms, a luxurious furniture design brand exclusively distributed by AKA. Here, the latest appliances and devices from the LG Objet Collection were prominently displayed, curating harmonious spaces that reflect unique tastes and styles.

The living room was transformed into an art exhibition with LG OLED Posé TV. The product’s luxurious design, characterized by soft, rounded lines and a beige fabric finish, inspires a warmer, more intimate atmosphere. The Posé minimizes visual clutter by concealing cables and accessories behind its cover, while cleverly routing the power cord along the base.

The kitchen was elevated with the LG Objet InstaView refrigerator and LG Quadwash TrueSteam dishwasher, which feature elegant designs and advanced technologies to bring aesthetics and convenience to the heart of every home.

In the bedroom, the LG PuriCare360 Alpha PET air purifier became an indispensable element by quietly cleaning the air, ensuring the best night’s sleep. Its unique two-tiered cylindrical design added a stylish touch that accentuated the relaxing ambiance of the room. The stylish LG Stanby ME smart screen, with various customization options and effortless portability, was another popular choice for family homes.

Another design marvel for the home was the LG Objet Styler, which boasts a modern design with minimalist square edges, resembling a small wardrobe. To ensure it blends effortlessly into any interior, its screen can be hidden away and only appears when touched by the user. Meanwhile, the LG WashTower introduced a “new breeze” to laundry spaces with its stacked washer and dryer design, utilizing a single control panel for optimal cleaning while saving valuable space.

Beyond its pioneering and creative designs, the LG Objet Collection integrates LG’s leading technologies, allowing customers to enjoy a daily paradise of convenience. Each product in the high-end collection connects seamlessly to the LG ThinQ app, empowering users to control their devices via smartphone, ensuring spaces are always tailored to their preferences.

Interior design experts note that the subtle yet elegant colors of beige, black and green not only allow the LG Objet Collection harmonize with a wide array of design styles but also add a touch of refinement and coziness to living spaces. These colors contrast beautifully with natural elements like stone, wood and tiles, enhancing the overall depth of the décor.

With today’s customers expecting new products to do more with less, the experience space also showcased LG PuriCare Aero Furniture, featuring a unique design that resembles a modern coffee table. Complete with a control panel and a wireless charging pad for smart devices, its cylindrical base purifies the air while maintaining a sleek aesthetic.

This collaboration between LG and AKA exemplifies the ideal home for modern consumers, merging aesthetically pleasing designs with life-enriching functionality. It reflects LG’s long-standing commitment to enhancing the overall user experience while promoting easier interactions with their products.

Contributed by LG Vietnam

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LG Wins 2025 AHR Innovation Award for Residential Cold Climate Heat Pump

Award-winning Heat Pump Delivers Advanced Efficiency and
Heating Performance in Extreme Cold Conditions

A photo of the LG DUAL Inverter heat pump installed outside a house

SEOUL, Oct. 29, 2024 — LG Electronics (LG), a leading global player in air conditioning technologies, has been honored with the 2025 AHR Innovation Award in the Sustainable Solutions category for its advanced LG Residential Cold Climate Heat Pump. The award was decided by an independent panel of ASHRAE member judges, who assessed product entries based on their design, creativity, application, value and market impact potential.

The LG Residential Cold Climate Heat Pump, which will be showcased at the AHR Expo 2025 in Orlando, Florida next February, offers opportunities to reduce energy consumption, contributing to climate change mitigation while improving inhabitants’ comfort.

Designed specifically for cold regions, LG’s heat pump operates effectively at temperatures as low as negative 35 degrees Celsius (negative 31 degrees Fahrenheit). It retains full heating capacity at negative 25 degrees Celsius (negative 13 degrees Fahrenheit) and functions at 70 percent capacity at negative 35 degrees Celsius (negative 31 degrees Fahrenheit). Additionally, the innovative heat pump incorporates a refrigerant cycle that prevents frost accumulation on the outdoor heat exchanger, thereby enhancing heating performance. The impressive solution is also equipped with a high-capacity, high-efficiency twin rotary inverter compressor that uses low Global Warming Potential (GWP) R32 (GWP 675) refrigerant, available with HSPF2 13.4 Btu/Wh and 13.6 kBtu/h.

“The recognition from ASHRAE and AHR reflects LG’s ongoing dedication to HVAC technological innovation and electrification,” said James Lee, head of the Air Solution Business Unit at LG Home Appliance & Air Solution Company. “The Residential Cold Climate Heat Pump is a solution that can withstand extreme cold weather conditions and help improve energy efficiency in homes. Our focus remains on creating more environmentally responsible solutions that align with consumer needs while simultaneously reducing our global environmental footprint.”

LG’s comprehensive suite of heating and cooling solutions for commercial, light-commercial and residential applications continues to receive industry recognition. This is largely due to LG’s consistent efforts to provide innovative HVAC solutions leveraging the company’s advanced core technologies, which elevate performance and support the move to electrification.

LG prioritizes heat pump advancement as a key component of the U.S.’s climate improvement efforts. Several states have committed to improving decarbonization, setting a goal for heat pumps to constitute at least 65 percent of all new HVAC and hot water heating systems by the end of the decade.

LG’s commitment to these broader goals is further demonstrated by its leadership of the Consortium for Advanced Heat Pump Research, founded in collaboration with the University of Alaska to establish an Advanced Cold Climate Heat Pump Laboratory in Alaska. LG has also set up a global R&D triangle connecting North America, Europe (Oslo, Norway) and Asia (Harbin, China), with the aim of accelerating the development of high-performance heat pumps for regions that endure extreme cold.

“We understand the need to develop and validate products under extreme cold conditions, and the award-winning LG Residential Cold Climate Heat Pump is a testament to our ongoing efforts in this important area,” added Lee. “By minimizing reliance on fossil fuel-driven heating systems and cutting down on any supplementary back-up heating, the heat pump reduces environmental impacts and supports the larger decarbonization and electrification movements.”

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[Executive Corner] Insight Relations: Paving the Way for LG’s Future Vision

“While IR is traditionally understood as Investor Relations, I view it as Insight Relations.” LG CEO William Cho has often expressed this sentiment, and I wholeheartedly share his point of view. Over the last 25 years, I have dedicated considerable time to understanding the intricacies of the world’s capital markets, including a stint as an analyst in the IT and tech industry. My experiences have shown me that the active exchange of information and knowledge between companies and investors is essential for mutual success. Today, I take great joy and satisfaction in seeing our company make a significant impact in the market and among investors by presenting our latest business strategies. Being part of this new leap forward is truly gratifying. 

Last year, we announced a major business transformation, unveiling our vision to become a “Smart Life Solution Company” that connects customer experiences across home, commercial spaces, mobility and even the metaverse. To achieve this, we have set ourselves the “Triple Seven” target: seeking to reach seven percent average growth rate, seven percent operating profit and an enterprise multiple (EV/EBITDA) of seven, all by 2030. We also plan to invest over KRW 50 trillion for qualitative growth by the beginning of the next decade.  

Naturally, the attention of Korean and global investors and analysts began to focus on our enterprise value. Numerous questions were raised regarding the foundation and substance of our “Smart Life Solutions,” our growth potential and whether the announced changes were valuable enough to warrant the long-term investment of assets. As an analyst who has witnessed LG’s various transformations and efforts over the years, the initial market reaction was entirely understandable.  

Building on “responsibility” and “authentic communication,” which have been upheld as core values of investor relations (IR) for decades, we have expanded the involvement and role of top management, thereby enhancing trust in our corporate activities. We have also significantly improved policies aimed at increasing shareholder value. In addition, we are expanding efforts to contribute to the healthy development of capital markets from a macro perspective. 

Communication Leadership


As the shift in business direction marks a critical turning point with regard to the company’s future blueprint, it was only natural for those leading the changes to step forward and take on the role of “communicators.” Accordingly, starting with the
announcement of the “Future Vision 2030” in July last year, our CEO, CFO and other top executives have engaged in open and candid communications at key IR events, such as the general shareholders’ meeting, corporate briefings for global investors and investor forums. Beginning this year, the regular earnings conference calls, which were previously led by IR and business unit management, are now overseen directly by the CFO. 

Active Policy Changes to Improve Shareholder Value
In addition, we announced a new three-year dividend policy (covering fiscal years 2024 to 2026) earlier this year aimed at enhancing shareholder value. This policy includes changes such as adjusting the dividend record date, changing the dividend cycle, setting a minimum base dividend and increasing the dividend payout ratio. 

In August, we became the first among the affiliates of Korea’s top 10 conglomerates to announce a value-up participation disclosure aimed at enhancing corporate value. On October 22, we announced our “Corporate Value-Up Program,” a master plan to boost shareholder value and normalize the company’s valuation. To enhance predictability for investors, we will continue with the base (minimum) dividend of KRW 1,000 per share and semi-annual dividends, which both began this year, while also considering quarterly dividends in the future.  

Growth with the Market
Most people reading this article are likely well aware that companies, investors and the market are interconnected in an organic relationship. LG Electronics aims for healthy, mutual growth with the capital market. To this end, we have developed an IR Activity Management System that quantitatively analyzes IR activities for publicly listed companies and are sharing our operational know-how both internally and externally. Additionally, we have been collaborating with the Korea Investor Relations Service (KIRS) for several years, giving lectures on the direction of IR activities related to ESG (environmental, social and governance) and consistently contributing to the development of the capital market.  

Personally, as an analyst, I take great pride in sharing the knowledge and expertise I have accumulated from working at various companies and, through this, contributing to the positive cycle of market development alongside my colleagues. 

Earlier this month, we were honored with the Financial Services Commission Chairman’s Award (Grand Prize), the highest award in the corporate category, at the 2024 Korea IR Awards hosted by the KIRS.* The award holds great significance as it acknowledges our contributions to maintaining systematic and sincere communications with the market, as well as our efforts to secure a stable investment base as recognized by capital market authorities and various experts.  

Going forward, we will continue our commitment to proactive and genuine communication across all business activities to further build investor trust. I, too, will continue to strive to establish LG as an “Insight Leader” that drives healthy, mutual growth for the market, companies and investors alike. 

By Park Won-jae, vice president and head of IR Division at LG Electronics 

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* Hosted by KIRS under the Korea Exchange since 2001, the Korea IR Awards are presented annually to companies and individuals who have contributed to the healthy development of capital markets through effectively IR activities. Companies and individuals recommended by analysts and institutional investors are selected through a rigorous evaluation process conducted by a professional review panel and a selection committee. 

Sparking Positive Change Within Local Communities

A group picture of LG employees at local communities
LG’s Better Life for All vision encompasses every aspect of life, emphasizing sustainable living and raising educational standards for children in rural areas. In line with this commitment, LG offices around the world actively participate in local initiatives aimed at improving the lives of the people and communities they engage with daily.

A picture of LG Singapore employees picking up trash from the ocean
To commemorate World Cleanup Day (September 20) and International Coastal Cleanup Day (September 21), LG Singapore organized its first-ever beach cleanup event at East Coast Park in conjunction with local green social enterprise Green Nudge.

A picture of two LG Singapore employees holding up trash at the ocean
As part of the brand’s sustainability efforts, this initiative sought to highlight the importance of taking action against Singapore’s growing marine plastic pollution problem while promoting the 3Rs – Reduce, Reuse and Recycle – when dealing with used packaging.

A picture of a group of LG Singapore employees picking up trash from the ocean

By combining the company’s eco-conscious innovations with a community-driven effort, LG Singapore hopes this initiative will help foster a culture of environmental consciousness within consumers.

With the much-appreciated help of Green Nudge, over 100 LG Singapore employees collected 293 kilograms of trash – mainly plastic packaging, bottles and Styrofoam – from three sites across Singapore’s eastern coastline, which was then carefully processed for proper disposal.

A picture of LG Singapore employees posing for a picture with their fists up at the ocean

To foster camaraderie among employees, LG Singapore organized eager volunteers into teams and promised an award to the group that collected the most trash. The winning team, which collected a total of 104 kilograms of trash in just one hour, received a small token of appreciation from Gerald Chun, managing director of LG Singapore.

A group picture of LG Singapore employees gathered around the trash they collected from the ocean

The success of the beach cleanup highlights LG’s dedication to environmental stewardship and community involvement, with the revitalized beach serving as a powerful reminder of the impact collective action can have. LG Singapore looks forward to promoting sustainability in more exciting ways and inspiring others to join its mission to preserve nature.

A picture of LG Taiwan employees with students posing with the Life's Good logo and banners

Moving on to another vibrant part of Asia, in the spirit of Life’s Good, LG Taiwan hosted an event in September to inject positive change into the local community. Since 2009, LG Taiwan has been deeply committed to improving the standards of education in the nation’s rural areas, working alongside third-party organizations and public welfare institutions to inspire warmth and hope. This long-standing dedication was recently demonstrated through a collaboration with the Feng Chia University School of Architecture.

A picture of LG Taiwan employees painting a wall at the school

This involved LG Taiwan assisting Feng Chia University’s Book Hut Project to create an impactful after-school learning space for children living in the countryside. First, LG donated smart home appliances to meet their daily needs, with the local children taking an immediate liking to the LG TV’s advanced voice control features and its sheer size. LG also donated two washing machines that make everyday laundry easy and convenient, requiring only the press of the power and start buttons to operate.

A picture of LG Taiwan employees helping fixing walls in the school

Under the leadership of Jeong Yeon-kwan, managing director of LG Taiwan, a team of 23 LG employees joined student volunteers from Feng Chia University in Hualien to transform a building into an inspirational learning environment with a new lick of paint and various decorations.

A picture of two LG Taiwan employees painting a wall in the school

In addition to getting hands-on in Hualien, LG Taiwan donated home appliances to the rural Nantou and Taitung regions to spread the power of education. Managing director Jeong showed teachers and children how each appliance works to ensure they received the full benefits. And to add a personal touch to their visit, LG volunteers prepared Korean snack packs for the children and student volunteers.

A picture of a group of children from the school holding gift bags from LG

To support the transformation of its local community, LG East Africa collaborated with Korea Food for the Hungry International (KFHI) to complete two local projects. These initiatives – in Kajiado County and Nairobi’s Huruma slums – were the winning entries of the 2024 LG Ambassador Challenge. Each received KES 1 million in funding to make an impact on local communities.

A picture of LG East Africa employees with people from Intinyika Primary school posing for a picture with the donation

As a part of the first initiative in Kajiado County, LG East Africa took part in transforming Intinyika Primary School. The school, which has 180 students, was equipped with essential infrastructure, including a solar power system, water storage facilities and computers. These upgrades address critical needs, such as electricity, water and educational resources, significantly improving the learning environment for local students. LG is hopeful that the new equipment will benefit and improve the lives of local students, with the new computers enabling them to learn more about digital technologies in a more comfortable learning environment.

A picture of LG East Africa employees aiding children with disabilities

In Nairobi’s Huruma slums, LG East Africa provided aid to the Furaha Community Foundation to improve their physiotherapy center, which treats more than 30 children with disabilities. With the funds from the LG Ambassador Challenge, the center acquired essential equipment, including gym tools, to provide effective care and treatment.

A picture of LG East Africa employees with children holding gifts

Now in its fourth year, the LG Ambassador Challenge is part of LG East Africa’s social responsibility initiatives. The program aims to recognize and support groups that actively address pressing challenges within their communities. The 2024 edition saw 53 applications, with the winning projects standing out for their potential to create lasting change. To ensure the sustainability of these projects, KFHI will continue to provide customized monitoring and support. This includes regular visits, communication and oversight to maximize the impact and facilitate meaningful change within the communities.

LG will continue to arrange various activities around the globe to spread its Life’s Good brand promise. To learn more about LG’s local initiatives around the world, visit LG Newsroom.

Contributed by LG Singapore, LG Taiwan and LG Kenya

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LG Releases Third-Quarter 2024 Financial Results

Company Achieves Highest Third-Quarter Revenue and Sustains
Year-Over-Year Growth for Four Consecutive Quarters

SEOUL, Oct. 24, 2024 — LG Electronics Inc. (LG) today announced its third-quarter 2024 consolidated revenue of KRW 22.18 trillion and an operating profit of KRW 751.9 billion. This revenue marks the highest ever for a third quarter, while the operating profit ranks as the fourth highest in the company’s history.

Several external factors impacted the third quarter, including a prolonged delay in market demand recovery and ongoing geopolitical conflicts worldwide. These challenges led to a rise in global shipping expenses, contributing to increased costs.

Despite these obstacles, LG has achieved year-over-year revenue growth for four consecutive quarters by upgrading its business portfolio. This includes transforming business methods and models and expanding B2B operations. These efforts have allowed LG to partially offset the unavoidable cost increases, enabling the company to maintain a robust operating profit, signifying the retention of strong fundamental competitiveness.

Looking ahead, LG plans to further accelerate its business transformation by expanding home appliance subscriptions, direct-to-consumer (D2C) sales and volume zone product sales. In addition, the company aims to drive steady growth in the B2B sector while also expanding platform-based content and service businesses.

The LG Home Appliance & Air Solution Company generated third-quarter revenue of KRW 8.34 trillion and an operating profit of KRW 527.2 billion. Compared to the same period last year, revenue increased by 11.7 percent and operating profit by 5.5 percent. Despite challenging external conditions, LG’s home appliance business outperformed its peers, reaffirming its top-tier competitiveness. Even with the delayed recovery in global appliance demand, the rapid growth of the subscription business model and B2B HVAC business drove revenue expansion. Although the surge in logistics costs in the second half of the year significantly impacted operating profit, the company achieved results exceeding the same period last year, thanks to revenue growth and exceptional manufacturing competitiveness.

In the fourth quarter, market conditions are expected to gradually improve, as indicated by improvements in leading economic indicators in major countries and interest rate cuts. LG plans to diversify its home appliance lineup and pricing strategy to meet the growing demand in emerging markets, while also expanding new businesses such as subscriptions and D2C sales to maintain revenue growth. The company will continue to focus on efficient operations, considering the seasonal increase in marketing expenses, to secure profitability.

The LG Home Entertainment Company posted third-quarter revenue of KRW 3.75 trillion and an operating profit of KRW 49.4 billion. Revenue increased by 5.2 percent compared to the same period last year, driven by increased shipments in Europe – a key market for OLED TVs. Although the cost burden increased significantly due to a sharp rise in LCD panel prices, the continued growth of the webOS-based content and services business minimized the impact on overall profits.

In the fourth quarter, the TV market is expected to see slight growth, primarily in entry-level products, compared to the same period last year. LG plans to respond flexibly to changes in TV market demand while accelerating growth by expanding its webOS partnerships to increase its user base.

The LG Vehicle component Solutions Company reported third-quarter revenue of KRW 2.61 trillion and an operating profit of KRW 1.1 billion. Revenue increased compared to the same period last year but slightly decreased from the previous quarter due to a slowdown in electric vehicle (EV) demand. Operating profit also declined, impacted by increased R&D expenses for securing software-defined vehicle (SDV) technology and preemptive investments for mass production of order volumes.

The market in the fourth quarter is expected to maintain a growth trend compared to the same period last year and the previous quarter. However, growth is anticipated to slow due to stagnant EV demand. LG plans to focus on sales growth based on its secured order backlog and on strengthening the market position of its main products, including telematics, AVN and motors. Additionally, the company will continue efforts to improve efficiency across its operations and pursue profitability.

The LG Business Solutions Company reported third-quarter revenue of KRW 1.40 trillion and an operating loss of KRW 76.9 billion. Revenue grew year-over-year due to increased sales of strategic products such as gaming monitors and LED signage, as well as securing large-scale B2B orders for PC products. However, the operating loss expanded due to rising LCD panel prices, increased logistics costs, intensified competition and higher investments in nurturing new businesses within the Company.

In the fourth quarter, demand for strategic product lines including gaming monitors and LED signage is expected to grow by double digits compared to the same period last year. Additionally, the rising interest in AI PCs is anticipated to boost demand for premium laptops. Consequently, the Company plans to expand sales of strategic products and focus on improving profitability through efficient operations.

Meanwhile, following a board resolution last month, LG decided to discontinue its battery pack business. As a result, starting from the third-quarter earnings report, related revenue and operating profit will be treated as discontinued operations in the financial statements. This will also lead to adjustments in past revenue and operating profit figures.

Earnings Conference and Conference Call
LG Electronics will hold a Korean / English conference call on October 24, 2024, at 16:30 Korea Standard Time (07:00 GMT/UTC). Conference call participants should pre-register online to receive a private PIN. The corresponding presentation file will be available for download at the LG Electronics website before the call.

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LG Showcases Self-Driving AI Home Hub at ROSCon 2024

Company Unveils Open SDK, Enabling Developers to Customize and
Enhance Smart Home Appliance Experiences

A photo of LG Electronics' booth at ROSCon 2024

SEOUL, Oct. 23, 2024 — LG Electronics (LG) is presenting its Self-Driving AI Home Hub and open Software Development Kit (SDK) at ROSCon 2024, the Robot Operating System Conference, taking place in Odense, Denmark, from October 21 to 23. This showcase provides the company with an opportunity to engage with the global developer community, share its technological expertise and explore new avenues to expand its open platform ecosystem.

Now in its 13th year, ROSCon brings together Robot Operating System (ROS) developers – both beginners and experts – to share and present their newest technologies, innovations and ideas. LG’s on-site booth highlights its SDK and Application Programming Interfaces (API) by providing a step-by-step experience of predefined apps using the API Tool. The company is demonstrating the Self-Driving AI Home Hub’s major features and services, including small talk, storytelling and reading sessions utilizing Optical Character Recognition (OCR). In addition, there will be a demo session where developers can create apps for the Self-Driving AI Home Hub using the open SDK.

The SDK package gives developers easy access to various Open Application Programming Interfaces (OPEN APIs) and programming tools, allowing them to have greater control over the Self-Driving AI Home Hub and seamlessly expand its software functionalities through ROS 2 and SDK, which support standardized interfaces. SDK is now available on LG’s developer site (q9.developer.lge.com), which also hosts a community platform for interaction and an application marketplace where developers can download apps created by others.

LG is also actively seeking partnerships with institutions and companies for collaboration based on the SDK. The company is providing engineering samples for advanced joint development projects and is pursuing Memorandum of Understanding (MOU) agreements. By providing easily accessible programming tools, LG aims to maximize the Self-Driving AI Home Hub’s potential and expand the ecosystem as an open platform. Parties interested can apply for joint development opportunities at q9.developer.lge.com.

Baek Seung-min, head of LG’s Advanced Robotics Lab (CTO Division), will deliver a presentation during the ROSCon 2024 Talk session on October 23 at 17:20 (CEST). The talk will focus on the software’s architecture and SDK performance optimization techniques for LG’s Self-Driving AI Home Hub, based on ROS 2. LG will also invite ROS developers to join the growing ecosystem by releasing its SDK, fostering an environment that promotes collaborative efforts on product development with customers.

“The introduction of SDK for the Self-Driving AI Home Hub demonstrates our vision of expanding the OS appliance ecosystem with the introduction of downloadable services that permit users to personalize their home appliances,” said Lee Hyang-eun, head of Customer Experience Innovation Division of LG Electronics Home Appliance & Air Solution Company. “This is the latest phase in our mission to expand the OS appliance ecosystem and lead the industry into a new era of smart home appliances.”

Visitors to ROSCon 2024 can explore the company’s innovative Self-Driving AI Home Hub with SDK and APIs at the LG booth (#19) situated on the ground floor of the Odeon Concert Hall.

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Corporate Value-up Program Announcement

A photo of LG logo

SEOUL, Oct. 22, 2024 – LG Electronics (LG) has announced its Corporate Value-up Program, a comprehensive plan that includes mid- to long-term business goals and strategies aimed at enhancing enterprise value. The program also outlines policies and plans to enhance shareholder value and future returns. 

LG believes that sustained growth is the key to enhancing enterprise value. Guided by its “Future Vision 2030,” which focuses on evolving into a future-oriented business structure and achieving sustainable growth, the company is consistently working on transforming its business portfolio. 

The goal is to achieve KRW 100 trillion in revenue and meet its “Triple Seven” targets: a 7 percent average annual growth rate, a 7 percent operating profit rate and an enterprise multiple (EV/EBITDA) of 7. By 2030, LG expects that the transformed business portfolio areas will account for 52 percent of total sales and 76 percent of operating profit, with an aim for a return on equity (ROE) of over 10 percent by 2027. 

The shareholder return policy included in this value-up program will be applied for three years, from the 2024 business year to the 2026 business year. It will utilize more than 25 percent of the consolidated net income based on controlled shares (excluding one-off non-recurring profit) for shareholder returns. 

To enhance shareholder value, the company will continuously review incinerating current treasury shares and explore further buyback options. 

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LG’s Global Efforts to Combat Hunger on World Food Day

Despite the fact that farmers across the world produce enough food to feed every global citizen, hundreds of millions – many of them children – still go to bed hungry every night. In fact, the Food and Agriculture Organization (FAO) of the United Nations estimates that as much as 733 million people suffer from hunger due to various factors such as weather shocks, conflicts, economic downturns, inequality and pandemics.

The LG Hope Screen with the LG video showing up on the screen 1

To bring more attention to global hunger, malnutrition and food insecurity, the FAO assigned October 16 as World Food Day. Under this year’s theme, “Right to Foods for a better life and a better future,” the FAO created a video illustrating the production and sharing of food across different cultures while highlighting that access to a diverse range of safe, nutrient-rich foods should be a human right.

The LG Hope Screen with the LG video showing up on the screen 2

In its commitment to spreading awareness, LG showcased this video on its expansive New York Times Square and London Piccadilly Circus billboards as a part of the LG Hope Screen program. Earlier this year, the LG Hope Screens promoted restoration for World Environment Day and, last year, featured FAO’s campaign video for World Food Day 2023.

As a global corporate citizen that recognizes the importance of acting now, LG is dedicated to improving the lives of people from all backgrounds through its social contribution activities organized under the company’s Better Life for All vision. LG offices around the world have aligned under this company-wide vision to address various global issues, with a particular focus on alleviating poverty and hunger in less fortunate areas.

A photo of local children in India receiving rice in a lunchbox

For instance, LG India has been taking a strong stance against malnutrition by bolstering local children’s food and nutrition security with its flagship CSR project, “The Life’s Good Nutrition Program.” In 2023, LG India leveled this project up by joining forces with Akshaya Patra, a leading NGO, and the Annapoorna Trust, a charitable trust, to serve nourishing breakfasts and lunches to no less than 59,000 children attending government schools across the country.

A photo of a kid receiving meals from a mobile lunch truck with the LG Electronics logo

Coinciding with its Better Life for All initiatives, LG Indonesia’s “LG Loves and Cares” program supports various social causes. This program involved the distribution of food packages to locals of all ages, with each delivery reviewed by a leading nutritionist to ensure a nutritional balance that promotes better well-being.

With similar programs showcasing its Better Life for All vision running in other parts of the world, including Nigeria, Mexico and Iran, stay tuned to the LG Newsroom for more.

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