LG Accelerates 5G Private Network Business Expansion

 LG ACCELERATES 5G PRIVATE NETWORK BUSINESS EXPANSION

First in the 5G Private Network Industry to Receive Domestic Network Equipment Certification from Korea Association of Network Industries

SINGAPORE, Sep. 26, 2024 - LG Electronics is stepping up its presence in the 5G private network market, a key infrastructure for future industries. The company has recently achieved a significant milestone by becoming the first in 5G private network industry to receive the “Domestic Network Equipment Certification” from the Korea Association of Network Industries for its self-developed 5G private network solution.

The “Domestic Network Equipment Certification” is awarded to products that are developed and manufactured in South Korea, a key credential for supplying to public institutions. This certification marks LG’s official recognition for internalising core 5G private network technologies.

A 5G private network is a customised network deployed in specific areas like factories and buildings, offering high-speed data transmission and exceptional stability. It serves as a vital foundation for innovations such as digital and AI transformation (DX/AX) and smart factory operations.

LG’s certified 5G private network solution leverages advanced software to handle network functions typically managed by traditional 5G equipment like Radio Access Network (RAN) and 5G Core. This software-based approach allows for faster data processing and improved stability, with the added benefit of enabling upgrades without hardware replacement, significantly lowering operational costs.

Harnessing its strong software capabilities, LG’s solution delivers a customised 5G private network tailored to meet diverse client needs and installation environments. For instance, it can create secure, isolated networks for clients with high-security requirements or integrate external cloud services for companies that require frequent collaboration with external partners.

In addition to network setup, LG’s solution offers a device control platform for seamless management of connected devices. This includes LG’s own products, such as robots and digital signage, as well as clients’ existing equipment like CCTV and smart safety devices, all integrated via the 5G private network.

With the momentum from this domestic certification, LG plans to actively pursue both enterprise-focused and public 5G private network initiatives, targeting sectors like smart factories and more.

Recognising the immense potential of the 5G private network market, LG has committed significant resources to technology development. The company holds around 30,000 telecommunications patents, including many related to 5G, ranking it among the world’s top innovators. Last year, LG formally added “facilities-based telecommunications business” to its portfolio, positioning itself for full-scale commercialisation of its 5G solutions.

LG also brings extensive real-world experience, having tested its 5G private network solution at various reference sites, including its Tennessee factory, a smart factory in Chungbuk, a logistics centre in Incheon and a university hospital in Seoul.

The global 5G private network market is expected to grow rapidly, from approximately USD 2 billion in 2023 to around USD 11.8 billion by 2028, with a projected annual growth rate exceeding 40%, according to market research firm MarketsandMarkets.

“We will continue to provide customized 5G private network solutions for clients who need fast, stable networks, leveraging our outstanding 5G technology and operational expertise, accumulated in various sectors such as factories, logistics centres and hospitals,” said Lee Jun-sung, vice president and head of LG’s Private Network Business Development Department.

# # #

About LG Electronics Inc.

LG Electronics is a global innovator in technology and consumer electronics with a presence in almost every country and an international workforce of more than 74,000. LG’s four companies – Home Appliance & Air Solution, Home Entertainment, Vehicle component Solutions and Business Solutions – combined for global revenue of over KRW 80 trillion in 2022. LG is a leading manufacturer of consumer and commercial products ranging from TVs, home appliances, air solutions, monitors, service robots, automotive components and its premium LG SIGNATURE and intelligent LG ThinQ brands are familiar names world over. Visit www.LGnewsroom.com for the latest news.

About LG Electronics Singapore Pte Ltd

LG Electronics Singapore Pte Ltd (LG Electronics Singapore) is a fully-owned subsidiary of LG Electronics Inc., the pioneer and market leader of the Korean electronics industry. LG Electronics Singapore operates three business units – Home Entertainment, Mobile Communications and Home Appliance & Air Solution. In recognition of its vision to enrich people’s life with smart technologies and innovative design, LG Electronics Singapore has been recognized with prominent local and international accolades, such as the CNET Asia Editor’s and Readers' Choice Awards, HWM+HardwareZone.com Tech Awards, Red Dot Design, and GfK No. 1 Awards. For more information, please visit www.lg.com/sg.

Media Contacts: