LG

LG Corp. Chairman and CEO Kwang Mo Koo paid a visit to LG Sciencepark in Seoul on the 12th, placing LG’s R&D hub at the center of his commitment to fostering innovation and forward-thinking strategies.
 
Since assuming the role of CEO in last June, Mr. Koo has been diligently addressing management challenges and steering LG towards future opportunities. His decision to prioritize a visit to LG Sciencepark underscores the pivotal role it plays in the company's future endeavors. 
 
Accompanied by other top executives, including LG Corp. Vice Chairman Kwon Young-soo, LG Sciencepark President Ahn Seung-kwon, LG Electronics President I.P. Park, LG Chem President Yoo Jin-Nyeong, LG Display Executive Vice President Kang In-Byung, and other R&D leaders from affiliated companies, Mr. Koo embarked on a comprehensive review of LG Sciencepark's past achievements and looked ahead at its strong potential contributions. Kim Dong-soo, CEO of LG Technology Ventures, was also in attendance.
 
During the visit, Mr. Koo examined cutting-edge developments such as LG Electronics' 'Laser Headlamp' and LG Display's 'Transparent Flexible OLED', illustrating the breadth of innovation underway at the facility. Engaging in strategic discussions with the assembled executives, Mr. Koo emphasized the imperative of bolstering R&D competitiveness, particularly in key domains like artificial intelligence, big data, AR, and VR. These areas are recognized as fundamental to navigating the Fourth Industrial Revolution, with LG Sciencepark positioned as a primary engine for future readiness. "In the era of the Fourth Industrial Revolution, LG Sciencepark stands as an R&D mecca crucial to our future success," remarked Mr. Koo, underscoring the facility's significance.
 
Mr. Koo also stressed the importance of fostering strategic open innovation with global leaders and cultivating partnerships with promising startups, both locally in Korea and internationally in locations such as North America and Japan. In Silicon Valley, LG has established LG Technology Ventures, funded by five LG affiliates, including LG Electronics, LG Display, LG Chem, LG Uplus, and LG CNS. Their objective is to invest in startups in the fields of autonomous driving components, artificial intelligence, and robotics, and to secure new technologies. LG Sciencepark has also established a Japan New Business Development Office in Tokyo to expand partnerships there with local small and medium-sized companies possessing strengths in materials and components.
 
Looking ahead, Mr. Koo emphasized the importance of building an agile organizational structure capable of swiftly adapting to evolving technology trends and translating them into commercially viable solutions. "Bon-Moo Koo, our former chairman, held the LG Sciencepark in high regard and I too recognize its pivotal role in shaping LG's future," Mr. Koo affirmed, urging R&D executives to create an environment conducive to innovation and emphasizing once again that he will spare no effort to support them.
 
LG Sciencepark opened in April and boasts a total investment of KRW 4 trillion, with a complex that sprawls over 170,000㎡ (gross floor area of 1.11 million㎡), the size of 24 football fields, with 20 research buildings. 
 
It currently has more than 17,000 researchers from eight affiliated companies, including LG Electronics, LG Display, LG Innotek, LG Chem, LG Hausys, LG Household&Health Care, LG Uplus, and LG CNS, and will expand its footprint, with plans to accommodate over 22,000 by 2020.