LG Innotek Establishes Integrated LiDAR Organization... "Fostering 2 Trillion KRW Vehicle Sensing Solutions Business"

LiDAR Division CEO Directly Oversees Integration
Multiple High-Value Vehicle Camera Module Developments Underway
CEO Moon Hyuk-su: "We Will Grow This Into a Leading Business"

LG Innotek is expanding its optical solution core technology into the next-generation mobility sector, growing its vehicle sensing solution business. While announcing plans to expand this business to an annual sales scale of 2 trillion KRW by 2030, it is accelerating business promotion by establishing related departments with high-performance LiDAR as the core axis of the business.

LG Innotek employees are presenting the core components of vehicle sensing solutions: the high-performance LiDAR (left and right) and the high-performance heating camera module (center). /

LG Innotek announced on the 24th that it established a dedicated organization directly under the CEO called the LiDAR Business Division earlier this month. This was to integrate the LiDAR development and business organizations, which were previously scattered across the Optical Solutions Division and the Chief Technology Officer (CTO), under the LiDAR Business Division.

This organizational restructuring was strongly influenced by the will of LG Innotek CEO Moon Hyuk-soo to personally oversee the LiDAR business and concentrate capabilities to drive it forward. Earlier, CEO Moon stated at a press conference in March that he plans to "discover future businesses and build a solid business portfolio."

LG Innotek views the sensing solution business for autonomous driving (AD) and advanced driver-assistance systems (ADAS), composed of camera modules, LiDAR, and radar, as a field to quickly implement CEO Moon's management strategy and is actively promoting the business.

In particular, high-performance LiDAR is positioned as the core axis of the vehicle sensing solution business. LG Innotek began full-scale LiDAR business development in 2015 and acquired 77 U.S. patents related to LiDAR from a U.S. autonomous driving startup last year. Currently, it holds about 300 patents related to LiDAR.

Another axis is high-value vehicle camera modules. To strengthen its vehicle camera module business capabilities, LG Innotek signed an equity investment contract with Taiwan’s AOE Optronics earlier this year. AOE specializes in manufacturing technology for 'aspherical glass lenses,' a core component for high-resolution cameras.

In February, LG Innotek also introduced a ‘high-performance heating camera module’ that quickly melts frost on vehicle camera lenses. Currently, it is developing high-heat-generating materials that increase heating speed beyond this product. It is also developing camera modules with cleaning functions that immediately remove foreign substances on lenses during driving.

LG Innotek is also actively investing in facilities during this process. It purchased an additional site of approximately 99,173 square meters near its existing production corporation in San Juan del Rio, Mexico, and expanded the factory last year. Vehicle camera modules are expected to be mass-produced in this factory starting in the second half of next year.

LG Innotek has announced its goal to lead the AD·ADAS sensing solution market by creating differentiated customer value as a 'total vehicle sensing solution provider' covering both the interior and exterior of vehicles. It also plans to introduce 'Sensor Fusion,' which combines vehicle camera modules and LiDAR with software, and 'In-Cabin' vehicle camera modules used for various purposes inside the vehicle.

CEO Moon said, "Based on the first-class success formula learned from the mobile camera module business, we will nurture the vehicle sensing solution business into a 2 trillion KRW annual sales business by 2030," adding, "We will grow it into another first-class business."

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