"Construction, Furniture, and Interior Companies Join Hands" LGD 1st Open Innovation Forum

[Asia Economy Reporter Kim Hyewon] LG Display is launching strategic collaborations with diverse industries such as construction, furniture, and interior design companies to discover new business opportunities and expand the ecosystem based on the scalability of OLED.

LG Display announced on the 27th that it will hold the '1st Open Innovation Forum' centered on this initiative.

This move aims to expand the business scope beyond just manufacturing display panels to the entire ecosystem from a business model perspective.

The 1st Open Innovation Forum will be held under the theme of 'Home Life,' reflecting recent lifestyle changes due to the COVID-19 pandemic and the growing significance of 'home.' LG Display plans to seek new business opportunities and solutions through collaboration with related companies and startups.

First, LG Display will form joint working groups with construction, furniture, and interior companies to discuss the potential of various OLED products such as furniture-type home appliances, built-in appliances for interiors, and smart video appliances to innovate Home Life. Through this, they aim to derive optimal display and service concepts for each space and explore ways to integrate and more broadly utilize OLED technology within the construction, furniture, and interior industries.

To this end, an OLED showroom has been set up at LG Science Park in Magok, allowing visitors to experience various OLED products such as flexible TVs, mirror displays, transparent displays, and wallpapers firsthand.

Additionally, the Open Innovation Forum will hold an idea contest for startups developing content applicable to displays, including gaming, health, cooking, and fashion.

From August 4 to 6, a three-day online hackathon will select 10 outstanding companies, providing benefits such as prize money, development support funds, technical verification support, business model and product development consulting, market expansion assistance, and support for participation in domestic and international exhibitions. Joint commercialization will also be pursued to ensure that the developed technologies can lead to future commercialization.

Jeon Seonghoon, Executive Director of Business Development at LG Display, said, "With the acceleration of digital innovation, displays will be applied in more and more areas beyond their traditional uses. We will actively utilize open innovation to propose and exchange ideas so that LG Display’s innovative OLED technology can be applied in other industries, discovering new business opportunities and future growth engines."

LG Display plans to hold the Open Innovation Forum annually, selecting themes that reflect market trends, starting with the Home Life theme.

This content was produced with the assistance of AI translation services.