LG ADVANCES B2B VENTURES WITH CUTTING-EDGE LIGHTHOUSE FACTORY EXPERTISE

Company Expands Smart Factory Business

Based on AI Technology and Automation Solutions

SINGAPORE, Mar. 14, 2024 — LG Electronics is expanding its B2B business area and making significant strides into the global smart factory market by capitalising on its expertise in constructing and operating intelligent autonomous factories.

Earlier this year, LG established the Smart Factory Business Division within its Production engineering Research Institute (PRI) and initiated the commercialisation of its intangible assets, including smart factory construction technology and operational solutions. These innovations will be highlighted at MODEX 2024, the premier supply chain experience trade show, held in Atlanta, Georgia, USA.

LG’s smart factory business not only delivers production automation solutions but also incorporates AI-driven production planning, operations and the Digital Twin solution. The company aims to enhance customers’ manufacturing competitiveness by offering optimal solutions across all stages, from factory planning and design to construction and operation. Additionally, continuous improvement consulting services for factory upgrades will be available.

Aligned with LG’s vision of achieving a revenue of KRW 100 trillion by 2030, with the B2B sector targeting revenue exceeding KRW 40 trillion, the smart factory business serves as a cornerstone for LG’s B2B expansion. This endeavour is part of LG’s strategic focus on three key areas for future growth: accelerating non-hardware business models, expanding B2B businesses and developing new business domains.

Experienced in various aspects of the smart factory business, LG boasts extensive manufacturing expertise across diverse sectors such as home appliances, air solutions, TVs, vehicle components and robotics. What’s more, the company provides cutting-edge equipment and communication technologies, including big data-enabled integrated monitoring systems and predictive quality evaluation systems.

In addition to its manufacturing prowess, LG has secured essential digital technologies for building automated processes, including AI, big data and the Internet of Things (IoT). The company has also developed an intelligent production system where deep learning-enabled robots execute tasks guided by the company’s Digital Twin solution. This solution simulates actual machinery, equipment and logistics systems in a virtual environment, facilitating smooth integration and optimisation of manufacturing processes.

These accomplishments have earned LG recognition for possessing world-class smart factory technology, encompassing hardware, software and automation solutions. Notably, the LG Smart Park in Changwon and the Tennessee factory in the USA were selected as Lighthouse Factories by the World Economic Forum.

With these capabilities, LG strengthens collaboration with various partners to expand the smart factory ecosystem. Following the signing of an MOU with LS ELECTRIC for the “Establishment of Smart Factory Business Cooperation System and Mutual Benefit Enhancement,” LG is forming unions with numerous global partners to advance smart factory technology through cloud and data analysis.

“In light of LG’s robust portfolio of smart factory solutions, we are committed to partnering with customers throughout their manufacturing journey by delivering optimal solutions across all stages, from planning and design to construction and operation,” stated Song Shi-yong, head of LG Electronics’ Smart Factory Business Division. He further elaborated on plans to introduce a Total Factory Offering System, which will provide a comprehensive solution in collaboration with LG and its global partners.

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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 84 trillion in 2023. LG is a leading manufacturer of consumer and commercial products ranging from TVs, home appliances, air solutions, monitors, automotive components and solutions, 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 Business Solutions Company 

The LG Business Solutions Company is a trusted partner offering innovative products and customized solutions for diverse industries worldwide. With a portfolio of unique offerings ranging from industry-leading OLED to LED signage, LG is a respected name among customers around the world. LG’s IT solutions include business monitors, laptops, projectors, cloud devices, medical displays, commercial robots and electric vehicle chargers, all designed to maximize

work efficiency and return strong value to customers. For more on LG’s Business Solutions,

visit www.LG.com/b2b.

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.

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