LG Innotek made a strategic equity investment in the venture company Smart Radar System, which possesses 4D imaging radar technology, to enhance its competitiveness in the mobility sensing business.
According to the Financial Supervisory Service on the 2nd, Smart Radar System decided to raise approximately 5.92 billion won in operating funds through a third-party allocation of new shares, and LG Innotek acquired all 807,770 new shares. With this investment, LG Innotek secured 4.9% equity in Smart Radar System.
Smart Radar System has proprietary designs for antennas, radar software, and AI-based object recognition, holding key source technologies related to 4D imaging radar. Unlike existing 3D radars, 4D imaging radar can detect height information, enabling more precise identification of objects, and it maintains excellent performance even in adverse weather conditions.
LG Innotek is fostering next-generation mobility sensing businesses centered around automotive cameras, LiDAR, and radars to enhance its business portfolio. Leveraging its ultra-high frequency antenna design capabilities and near-field communication software development skills accumulated in the vehicle communication component business, it has expanded its technical domain into the automotive radar business.
LG Innotek expects that by securing core technologies in high-performance radars such as vehicle 4D imaging radar and ultra-short-range radars through this equity investment, it will be able to accelerate its market penetration.
An official from LG Innotek noted, "This investment is part of a strategy to enhance the next-generation sensing business portfolio," adding, "We will expand the application of radar technology not only to autonomous vehicles but also to various fields such as robotics and aviation."