LG Advances B2B Ventures With Cutting-Edge Lighthouse Factory Expertise

LG Advances B2B : LG Electronics (LG) is making significant strides into the global smart factory market by expanding its B2B business area. Leveraging its expertise in constructing and operating intelligent autonomous factories, LG aims to revolutionize manufacturing processes worldwide.

LG Advances B2B Ventures

Initiating Smart Factory Business Division

In a bold move earlier this year, LG established the Smart Factory Business Division within its Production Engineering Research Institute (PRI). This division focuses on commercializing LG’s intangible assets, including smart factory construction technology and operational solutions.

Showcase at MODEX 2024

LG’s innovations in smart factory technology will be showcased at MODEX 2024, the premier supply chain experience trade show, held in Atlanta, Georgia, USA. This platform will highlight LG’s commitment to driving advancements in the manufacturing industry.

Comprehensive Solutions Offered

LG’s smart factory business goes beyond production automation solutions. It integrates AI-driven production planning, operations, and the Digital Twin solution, aiming to enhance customers’ manufacturing competitiveness. The company provides end-to-end solutions, from factory planning and design to construction and operation, along with continuous improvement consulting services.

Strategic Growth Focus

Aligned with LG’s ambitious 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 strategic focus emphasizes accelerating non-hardware business models, expanding B2B businesses, and developing new business domains.

Extensive Manufacturing Expertise

With extensive manufacturing expertise across diverse sectors such as home appliances, air solutions, TVs, vehicle components, and robotics, LG is well-positioned to lead in the smart factory industry. The company offers cutting-edge equipment and communication technologies, including big data-enabled integrated monitoring systems and predictive quality evaluation systems.

Cutting-Edge Digital Technologies

LG has secured essential digital technologies for building automated processes, including AI, big data, and the Internet of Things (IoT). The company’s intelligent production system employs deep learning-enabled robots guided by the Digital Twin solution, facilitating seamless integration and optimization of manufacturing processes.

Recognition and Collaboration

LG’s world-class smart factory technology has earned recognition globally. The LG Smart Park in Changwon and the Tennessee factory in the USA were selected as Lighthouse Factories by the World Economic Forum. LG strengthens collaboration with various partners to expand the smart factory ecosystem, aiming to advance technology through cloud and data analysis.

Commitment to Customer Partnership

Song Shi-yong, head of LG Electronics’ Smart Factory Business Division, emphasizes LG’s commitment to partnering with customers throughout their manufacturing journey. The introduction of a Total Factory Offering System, in collaboration with LG and its global partners, will provide comprehensive solutions to meet the evolving needs of manufacturers worldwide.

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 a 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, and automotive components and solutions, and its premium LG SIGNATURE and intelligent LG ThinQ brands are familiar names the world over. Visit www.LGnewsroom.com for the latest news.