LG Electronics to Produce Key Robot Components In-House

LG Electronics is poised to accelerate its robot business by designing and manufacturing key components in-house. CEO Ryu Jae-cheol announced that the company will directly design and produce actuators, critical components representing over 40% of a robot's cost, to be offered as part of its B2B strategy. Building on its annual production capacity of 45 million units and its expertise in home appliance motor technology, LG Electronics aims to capture a significant share of the robot component market. The company also plans to leverage data accumulated from its home appliance business to expedite its home robot initiatives.

At its 24th regular shareholders' meeting held on March 23 at LG Twin Towers in Yeouido, Seoul, LG Electronics outlined plans to concentrate on developing four key future strategic businesses, including robotics. The company identified robots, AIDC cooling solutions, smart factories, and AI homes as its four strategic growth pillars, aiming to achieve expansion by maximizing synergy with its existing business capabilities.

During the shareholders' meeting, Ryu Jae-cheol was appointed sole CEO, and Professor Kang Soo-jin, formerly an outside director, was elected as the Chairman of the Board, strengthening the corporate governance structure. The company also moved to enhance shareholder value by approving a dividend of 1,350 won per share and deciding to retire all treasury shares.

CEO Ryu Jae-cheol emphasized, "AI is transforming the foundation of business, and we stand at an inflection point with the global supply chain being reshaped." He added, "We will demonstrate a solid growth foundation that remains unshaken by any external environment through a transition to a high-performance portfolio based on fundamental competitiveness."