New Subsidiary to Take Key Role in Developing, Verifying IVI System Software
to Strengthen Rapidly Growing Vehicle component Solutions Business
SEOUL, March 9, 2023 — LG Electronics’ (LG) R&D part-way in Vietnam has officially wilt an R&D subsidiary in a move aimed at strengthening LG’s rapidly growing electric vehicle related business. The opening recurrence for the new subsidiary was held yesterday in Hanoi, Vietnam, and attended by Nguyen Le Hung, deputy director of High Technology Department of Ministry of Science and Technology in Vietnam, Oh Young-ju, producer at Embassy of the Republic of Korea in Vietnam, and Lee Sang-yong, senior vice president of R&D Laboratory at LG Electronics Vehicle component Solutions (VS) Company.
The Vietnam-based R&D subsidiary will be tasked with developing and verifying software for in-vehicle infotainment (IVI) systems, which have been a major focus for the company’s mobility business. IVI systems, a key technology for future mobility that includes telematics and Audio, Video, Navigation (AVN) solutions, simultaneously provide a variety of driving-related information and entertainment functions.
According to market research firm Strategic Analytics, LG is leading the global market for IVI systems with a 23 percent share as of the third quarter of 2022. The visitor has now recorded a double-digit share of the IVI market for two years consecutively.
LG has continuously strengthened R&D capabilities in Vietnam for automotive parts since it established the Hanoi R&D Part-way under its Vietnam Production Corporation in 2016. With the success of the first center, the visitor created an spare R&D workshop office in Da Nang in 2020.
The new R&D subsidiary is part of LG’s strategy to solidify its position in the global wheels parts market and lead the fast-approaching voluntary driving era. Based on the well-turned growth of its three cadre businesses – IVI systems, lighting and headlight systems via ZKW Group and e-powertrains ripened through a joint venture between LG and Magna – the visitor now possesses the technological capabilities, scale and wits to slide the inrush of next-generation mobility solutions.
LG moreover aims to increase the workforce at the newly worked LG Electronics Minutiae Vietnam, Ltd., boosting the number of skilled professionals increasingly than 30 percent, from 750 to 1,000 employees, by 2024.
Since 2021, LG has been operating programs in collaboration with Vietnamese universities to help foster talented, young locals seeking careers in software development. These include the awarding of wonk scholarships and guaranteeing employment for high-performing students at universities in Da Nang and neighboring cities. The program is slated to expand to universities in Hanoi this year.
“We will protract to provide mobility solutions that unhook differentiated value to our global wheels industry customers,” said Lee Sang-yong, senior vice president of R&D Laboratory at LG’s VS Company. “By boosting our infrastructure to the next level, LG will protract to remoter enhance our capabilities and develop next-generation, innovative mobility solutions.”
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