Innocean Signs MOU with LG Electronics to Develop Mobility Advertising Business

Creating Synergy Effects in Mobility Advertising Business

Innocean announced on the 31st that it has signed a Memorandum of Understanding (MOU) with LG Electronics to collaborate on the development of mobility advertising business.

Innocean has signed a Memorandum of Understanding (MOU) with LG Electronics to collaborate on the development of mobility advertising business. The photo shows Joonhee Cho, Head of New Growth Business Division at Innocean (left), and Kimon Baek, Head of ID Business Division at LG Electronics.
[Photo by Innocean]

With this MOU, Innocean plans to accelerate the development of digital signage and advertising transmission systems optimized for mobile environments. The company aims to further expand the mobility advertising business sector and establish a foundation for new global business. Previously, Innocean received regulatory sandbox approval last year for "digital signage advertising using electric cargo vehicles" and conducted an advertising transmission pilot project on the demand-responsive transport (DRT) service "Shucle," focusing on mobility-specialized advertising and content business. Additionally, Innocean is independently building a mobility digital advertising transmission system.

Joonhee Cho, Head of New Growth Business Division at Innocean, said, "Combining Innocean’s global network and marketing capabilities with LG Electronics’ global technological expertise will introduce a new type of mobility advertising model to the market. This will enhance the competitiveness of the mobility advertising business we are developing, enabling us to provide technologically stable and innovative content experiences." Baek Gimon, Head of the ID Business Division at LG Electronics, stated, "Based on the advanced technologies of both companies, we will jointly open the mobility advertising market utilizing commercial displays, and through the advancement of related solutions, provide new experiences to advertisers and B2B customers."

Meanwhile, the MOU signing ceremony was attended by key executives from both companies, including Joonhee Cho, Head of New Growth Business Division at Innocean, and Baek Gimon, Head of the ID Business Division at LG Electronics. They signed a business agreement covering the entire mobility advertising business, including ▲ collaboration on mobility advertising business ▲ PoC (Proof of Concept) collaboration for advertising pilot projects ▲ collaboration on device and solution businesses related to advertising, CMS (Content Management System), and RMS (Remote Management System).

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