Cho Joo-wan, chief executive officer (CEO and president) of LG Electronics, on the 6th said the Smart Factory business is expanding beyond electronic products into batteries, semiconductors, auto parts, heavy equipment, and biopharmaceuticals, expressing confidence about reaching 1 trillion won in cumulative orders.
Cho said on social media (SNS) that LG Production Technology Institute's orders this year are expected to grow more than 30% from a year earlier to about 500 billion won, adding that cumulative orders are on the verge of reaching 1 trillion won.
LG Production Technology Institute under LG Electronics is an organization that produces a wide range of industrial equipment, from displays and secondary batteries to semiconductors, camera modules, auto parts, and biopharmaceuticals. To date, it has built and operated more than 60 factories in some 40 countries worldwide, supporting the manufacturing infrastructure of LG affiliates.
Since last year, it has ramped up its Smart Factory solutions business and begun securing external clients. Recently, it achieved a milestone by supplying automation equipment for the first time to an iPhone 17 production line in India. According to market research firm Precedence Research, the global Smart Factory market is projected to grow from $155.6 billion (214 trillion won) last year to $268.5 billion (370 trillion won) by 2030.
Cho explained that LG's "total Smart Factory solution" covers the entire spectrum, from site selection to operational optimization, based on more than 60 years of global manufacturing expertise.
Cho said LG's capabilities in engineering consulting, intelligent automation, operations AX (AI transformation), and lifecycle management help clients optimize capital expenditure (CAPEX), operating expense (OPEX), and quality metrics.
Cho added that going forward, LG will continue to embed advanced AI across manufacturing and logistics and will build a powerful Smart Factory ecosystem through strategic partnerships.