South Korean automotive and car parts manufacturers are bracing for potential disruptions in their Mexican operations as US President-elect Donald Trump vows to enforce stricter tariffs and cut back on preferential treatment for goods produced in the region. According to industry sources on Tuesday, the Industry of Trade, Industry and Energy recently met with six companies – namely Kia, Hyundai Mobis and LG Innotek – to discuss the impact of Trump’s proposed tariffs. “Mex

LG Innotek said Friday it would invest 375.9 billion won ($268.3 million) in a facility in Vietnam to respond to new models in the optical solutions business and enhance its competitiveness. The investment period will extend until Dec. 31. of the following year. The new investment is part of the company’s previously announced plan to invest 1.3 trillion won in expanding its production subsidiary in Hai Phong, Vietnam. The Vietnam production facility primarily manufactures camera modules. T

South Korean Trade Minister Cheong In-kyo said Friday the government will establish cooperative channels with Mexico in an effort to minimize uncertainties for businesses stemming from expected policy changes by the Donald Trump administration. Cheong made the remarks during a Seoul meeting with companies operating in Mexico, including Kia Corp., Hyundai Mobis Co., and LG Innotek Co., to assess the impact of Trump's return on businesses and the broader economy, according to the Ministry o

Reduced dependence on certain countries for key raw materials, contributing to stabilizing the magnet supply chain Significant reduction in environmental pollutants, marking a win for ESG-focused global customers Development of rare earth-free magnets also underway, eliminating the need for even light rare earth elements SEOUL, South Korea, Nov. 5, 2024 /PRNewswire/ -- LG Innotek (CEO, Moon Hyuksoo) announced on November 5, 2024, that it has developed a 'high-performan

LG Innotek said Wednesday it has developed a high-performance eco-friendly magnet that eliminates the use of heavy rare earth elements. Heavy rare earth elements have been critical for magnets to retain their strength at high temperatures. However, these elements are predominantly sourced from specific countries like China, posing price volatility and supply instability risks, alongside significant environmental damage due to mining. Following its 2021 achievement of reducing rare earth usage by

LG Group Chairman Koo Kwang-mo will reportedly receive business reports from major affiliates sequentially over the next month, starting with the electronic affiliates on Monday to establish next year’s business plans, according to industry sources, Monday. LG holds strategic meetings in the first half of each year to discuss future strategies. Business meetings in the second half focus on business performance and plans for the following year, with an emphasis on enhancing customer value a

LG Innotek Chief Executive Officer Moon Hyuk-soo is stepping up efforts to recruit top talent from around the globe with the goal of boosting the company's competitive edge in the global market, where it makes the vast majority of its sales, the company said Sunday. Moon recently traveled to the US and hosted the company's main hiring event, "Inno Connect," in San Francisco, where he and Chief Human Resources Officer Kim Heung-sik and Chief Technology Officer Roh Sung-won pre

Achieved early detection of cause of defects in raw materials through AI, becoming "first to overcome this challenge in the industry" Applied to high-value semiconductor substrates, analyzing raw material defects in only one minute Reduces defect analysis time by up to 90% SEOUL, South Korea, Oct. 7, 2024 /PRNewswire/ -- Today, LG Innotek (CEO Moon Hyuksoo) announced the development and application of the industry's first "Artificial Intelligence (AI)-based inspec

LG Innotek said Wednesday that it has developed the industry’s first artificial intelligence that detects defective raw materials for its chip substrates. The new system, combining AI-based material information and image processing technologies, has already been adopted for the company’s production process. More recently, it has been used to upgrade the product quality of value-added chip substrates, including the flip-chip ball grid array. With chip substrates becoming increasingly

Automotive component patents account for nearly 40 percent of LG Innotek's patent applications, including LiDAR, Automotive camera modules, Lighting systems, and Communication modules. Registration of 5 EVCC standard essential patents, securing technological advantage in EV communication and charging control technologies. Collaboration with domestic and international standardization organizations to take part in next-generation mobility component standardization activities.

LG Innotek said Wednesday it is showcasing its innovative semiconductor substrates at this week's KPCA Show 2024, held at the Songdo Convensia in Incheon, from Wednesday to Friday. The KPCA Show is the largest annual exhibition of printed circuit board and electronic packaging, hosted by the Korea PBC and the Korea Printed Circuit Association for 21 years. LG Innotek plans to unveil its package substrate and tape substrate products along with high-value semiconductor substrates, called Flip

LG Innotek said Wednesday that it has applied for some 3,500 patents related to automotive parts over the past five years, seeking leadership in the field of futuristic mobility. Almost 40 percent of the patents are for electric vehicles, one of the company’s new growth drivers. They cover diverse EV and autonomous driving technologies, including LiDar sensors, cameras, lighting and communication modules. LG Innotek said it is also accelerating efforts to secure standard patents as they ar

Preliminary verification of designs using virtual simulation, reducing development time by 99% Increasing deployment of 'Digital Twin' technology to FC-BGA and electronic component production processes, maximizing manufacturing competitiveness "LG Innotek to become a 'meta-manufacturing' company by advancing Digital Twin technology" SEOUL, South Korea, Aug. 22, 2024 /PRNewswire/ -- LG Innotek is accelerating its digital transformation to enhance business competitivenes

LG Innotek, the advanced materials and components maker affiliated with LG Group, is speeding up efforts to recruit outstanding international students to enhance its global competitiveness. According to the company on Wednesday, a total of 31 international students either from foreign or Korean universities joined this year’s global internship program that was completed earlier this month. Under the five-week program, the students were allocated to diverse business divisions, including res

LG Innotek announced Thursday that it will expand the integration of digital twin technology throughout its operations in partnership with Ansys, a US engineering simulation software developer. Digital twin technology recreates physical objects in a virtual space to simulate real-world scenarios using computer models, thereby predicting outcomes and cutting manufacturing time and costs. Ansys is renowned for its technological prowess and experience in simulation using 3D modeling, AI and machine