New Home of VC Company Boasts State-of-the-Art R&D Capabilities
Beirut, July 23, 2013
LG Electronics (LG) held an opening ceremony for its new Incheon campus on July 10. The site, which will soon play host to around 800 Vehicle Components (VC) Company employees, is located in South Korea's Incheon Metropolitan City and covers an area of more than 100,000 square meters. LG has invested KRW over 300 billion to develop the facility designed specifically for the integrated, streamlined development of new automotive components. It is expected that the Incheon site will become the major base of operations for the new VC Company, a future growth engine for LG.
The core divisions of LG's VC Company are currently in the process of relocating to the new campus. All three of the VC Company's divisions - In-Vehicle Infotainment (IVI); Heating, Ventilation, Air Conditioning & Motor (H&M); Vehicle Engineering (VE) - will all call the Incheon complex home.
Some of the exciting new automotive technologies that will be developed at the campus include the next generation of vehicle components, hybrid car components, in-car infotainment systems, motor components and compressors for automotive heating, ventilation and air conditioning (HVAC) systems.
With a variety of testing and research facilities, LG's Incheon campus will enable the newly established VC Company to streamline R&D. The site features four main buildings: a laboratory for the creation of integrated engineering solutions for product design, a manufacturing building for the construction and testing of key products and technologies, a testing facility for assessing the performance, durability, and energy efficiency of new automotive components, and an environmental testing facility for the measurement of product performance and durability under various simulated climatic and weather conditions.
"The centralization of auto component R&D at the Incheon campus will help to energize LG's VC Company, allowing it to become a dynamic engine for growth moving forward," said Woo-jong Lee, president and CEO of the LG Electronics VC Company. "We will strengthen our position in the global vehicle component industry by investing in, and ultimately developing, the next generation of automotive components."
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About LG Electronics, Inc.
LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing 87,000 people working in 113 locations around the world. With 2012 global sales of USD 45.22 billion (KRW 50.96 trillion), LG comprises five business units -- Home Entertainment, Mobile Communications, Home Appliance, Air Conditioning & Energy Solution and Vehicle Components - and is one of the world's leading producers of flat panel TVs, mobile devices, air conditioners, washing machines and refrigerators. LG Electronics is a 2013 ENERGY STAR® Partner of the Year. For more news and information on LG Electronics, please visit www.LGnewsroom.com.
© Press Release 2013
