CEO Jo Joowan: "SDV Is Key to Vehicle Solutions Business... Will Lead Mobility Innovation"

VS Business Division Achieves Record Operating Profit
"Strengthening Global Presence"
"80% of Major Automakers Use LG Components"

Jo Joowan, CEO of LG Electronics, identified three core competitive strengths of the Vehicle Solutions (VS) business: user experience-driven value propositions, an integrated Software-Defined Vehicle (SDV) solution portfolio, and trust with global original equipment manufacturers (OEMs).

On November 10, through LinkedIn, CEO Jo stated, "LG Electronics' VS business has emerged as a strategic growth axis in the B2B sector under the vision of transforming into a 'smart life solutions company.' We are recognized as a reliable partner by major global automakers and are strengthening our position as a leader in mobility innovation on the global stage."

The VS Business Division recorded sales of 2.6467 trillion won and operating profit of 149.6 billion won in the third quarter of this year. Operating profit reached an all-time high, showing a significant increase compared to the same period last year, and the quarterly operating margin surpassed 5% for the first time.

CEO Jo attributed this performance to user experience-driven value propositions, explaining, "Based on decades of customer insight, we view the automobile not merely as a means of transportation but as a 'living space on wheels' that offers a differentiated in-car experience."

LG Electronics CEO Jo Joowan attended the listing ceremony of LG Electronics India at the National Stock Exchange in Mumbai, India, on the 14th (local time). LG Electronics. Photo by Yonhap News

He added, "From in-vehicle infotainment to interior sensing and telematics, we offer a comprehensive suite of solutions for the SDV era. Currently, eight out of the world's top ten automakers-who account for about 55% of global vehicle sales-are using LG’s automotive components and vehicle solutions."

LG Electronics is expanding its partnerships in the SDV market by transforming mobility and solutions, including in-vehicle webOS, into software-based, experience-centric spaces.

CEO Jo emphasized, "Through our SDV solutions, LG Electronics is simultaneously delivering new experiences and tangible value to customers, setting new standards in the automotive industry. Based on openness and collaboration, we will continue to expand the SDV ecosystem and lead sustainable mobility innovation."

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