LG Innotek, the electronic component manufacturing unit of LG Group, will suspend the production of its vehicle motor plant in Pyeongtaek, Gyeonggi Province, later this year to relocate facilities to other sites at home and abroad, according to industry sources Friday. With the planned relocation, the company is expected to streamline operations and improve profitability. The facilities are likely to be transferred to the company’s other motor plants in Gwangju, China, Mexico and Poland. T

The LG Innotek booth at CES 2024 welcomed a record-breaking sixty thousand visitors, three times more than the previous year. A prototype of a future autonomous vehicle, outfitted with 18 key electronic components, was a major attraction. The simultaneous operation of public and private booths led to a 50% increase in customer meetings compared to the previous year." SEOUL, South Korea, Jan. 17, 2024 /PRNewswire/ -- On the 15th of January, LG Innotek announced that the

LG Innotek, the electronic component manufacturing unit under LG Group, said Monday that it had attracted more than 60,000 visitors to its exhibition booth during the CES 2024 tech show last week, a threefold increase from a year before. “At this year’s CES, LG Innotek has positioned itself as a leading company in the field of future mobility as well as accelerating the acquisition of potential customers with highly scalable basic technologies,” said Moon Hyuk-soo, CEO of LG In

LG Innotek, an electronic component manufacturing unit under LG Group, said Tuesday it unveiled cutting-edge technologies for autonomous driving cars and 5G telecommunications at the CES 2024 in Las Vegas on Monday. The company carried out a pre-booth tour and introduced three zones in the exhibition booth -- mobility, artificial intelligence and future pathway -- prior to the official unveiling. In the main mobility zone, the company displayed a mock-up of a self-driving car installed with 18 c

Leaders of South Korea’s top conglomerates are set to converge at CES 2024 in Las Vegas next month to immerse themselves in emerging tech trends and expand global business networks. SK Group Chairman Chey Tae-won will be making his second consecutive appearance after last year's CES. “I’m also wondering how far artificial intelligence can be evolved. Drastic changes are expected to be made in the next five years. (That’s why) I’m heading to the CES,” th

LG Innotek said Monday it has developed a wireless battery management system, or BMS, for electric vehicles that significantly improved battery performance. The BMS is an essential EV component that optimizes a battery’s performance and lifespan by monitoring battery voltage, electric current and temperature in real time. The wireless BMS has emerged as a key component for electric vehicles and autonomous vehicles since it does not require cables or connectors. The wireless feature makes E

LG Group said Sunday that it has donated a total of 12 billion won ($9.24 million) to Community Chest of Korea, a local charity organization, as part of its year-end charitable giving. The ceremony was held at the charity’s Seoul office on Friday, with officials including CCK Chairman Kim Byong-joon and LG President and Head of Management Support Division Ha Beom-jong in attendance. "We hope that our neighbors in need can spend a warm year-end with hope and courage," said LG Pres

Exhibition booth of 330m2 provided in the entrance of West Hall Mobility and AI related innovative components exhibited including electric autonomous vehicles From robot to UAM… Future scalability 'emphasized' on the core basic technologies SEOUL, South Korea, Dec. 13, 2023 /PRNewswire/ -- LG Innotek (CEO Moon Hyuk-soo) announced on the 13th that innovative products and technologies related to mobility and AI will be introduced at 'CES (Consumer Electronics Show) 2024'.

LG Innotek said Monday that it will double the size of its exhibition booth compared to last year at the annual CES tech show held in Las Vegas in January to showcase its latest mobility and artificial intelligence technologies. The booth, spanning 330 square meters, will be set up at the entrance of the West Hall, where booths from major global automobile companies are commonly found. Given its location, the booth will be the first to welcome visitors to the tech show, the company added. Alon

LG Display, the top display maker in producing high-end organic light-emitting diode panels for TVs, has launched a voluntary redundancy program for its factory workers in its latest bid to reduce costs after months of operational losses, according to industry sources on Wednesday. Workers at its manufacturing plants in Paju, Gyeonggi Province and Gumi, North Gyeongsang Province, are eligible for voluntary retirement if they are over 40 years old. The company is offering severance pay for 36 m

LG Display's newly appointed chief executive officer Jeong Cheol-dong emphasized the importance of improving performance for turnaround as he begins his official duty Friday. "Getting out of the red is the most urgent priority, and for that, it is important that we complete the deals as we promised to our customers and achieve our planned targets,” Jeong said, sending his inaugural message to employees via email. "We will put a strong drive on cost innovation across the busi

LG Group, the country’s fourth-largest conglomerate, announced its year-end executive reshuffle on Friday, seeking to infuse the top brass with younger blood. From Wednesday to Friday, affiliates of LG Group held board meetings to appoint three new chief executive officers and promote 136 executives. Among the 99 to become executives, 97 of them were born after 1970 and five were born in the 1980s, the conglomerate said. “The latest executive reshuffle sought to reform the leadership

South Korean conglomerates are set to carry out regular reshuffle of executives to gear up for the coming year, starting with LG Group this week. Samsung Electronics, SK Group and Hyundai Motor Group, the top three conglomerates in order, are expected to conduct their regular executive reshuffles as late as early December. On Thursday, LG Display appointed Jeong Cheol-dong, currently LG Innotek president as its new chief executive officer in the regular reshuffle on Thursday. Jeong is an LG vete

LG Display appointed Jeong Cheol-dong, currently LG Innotek president as its new chief executive officer in a regular reshuffle on Thursday. The display panel maker said its board of directors appointed Jeong, an LG veteran who has served at a number of LG Group affiliates including LG Display and LG Chem for 40 years, as its new CEO in the board meeting earlier in the day. Jeong will start his work at LG Display from on Dec. 1 and the appointment will be made official at the general shareholder

LG Innotek, an electronic component manufacturer under LG Group, said Sunday that it had earned three international patents in the field of electric vehicle charging. “To leap forward as a No. 1 global company, it is essential to systematically manage and secure international patents and intellectual property rights for core technology,” said Kim Jin-hyun, head of the intellectual property division of the company. “Through our continuous R&D efforts in the field of IP, we w