LG Innotek recognized as one of South Korea's top brands

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May 30, 2024, 04:37 ET

LG Innotek has been named as one of the Best Korea Brands 2024 announced by Interbrand, proving its unrivaled status
"We will continue to make multifaceted efforts to raise the brand value of the global technology innovator."

SEOUL, South Korea, May 30, 2024 /PRNewswire/ -- LG Innotek (CEO Moon, Hyuksoo) announced on May 30th that it has been named as one of the Best Korea Brands 2024 announced by Interbrand.

This is the first time LG Innotek was included in Best Korea Brands. This demonstrates LG Innotek's standing as a leading global materials and components company in Korea.

Interbrand is the largest brand consulting group in the world, founded in 1974. Starting in 2013, Interbrand has announced the Best Korea Brands, consisting of 50 companies with the highest brand value in Korea. These include Samsung Electronics, Hyundai Motor Company and Naver.

Best Korea Brands are selected by comprehensively analyzing not only financial aspects, but also market dominance, influence, and the growth potential to assess the brand value. Their selection criteria are known as the most trusted global brand in marketing industry, having acquired the ISO certificate for the first time in the industry.

LG Innotek's brand value, according to Interbrand, amounts to approximately 3 trillion US dollars. LG Innotek has reportedly received high scores in all categories, including finances, market influence, and growth potential.

In terms of business, LG Innotek achieved rare growth in the domestic manufacturing industry, increasing annual sales from 6.1 million in 2019 to 15 million US dollars last year, driven by its flagship mobile camera modules.

LG Innotek is quickly establishing a business structure to achieve sustainable growth by deploying the DNA of a top-notch leader acquired in the optical solution business to expand into the automotive components and semiconductor substrate business.

Moreover, the company is expanding the breadth of its proprietary technology in optical design, precision manufacturing, and control to include autonomous driving and humanoid robots, accelerating its efforts to prepare their business for the future.

As the company is enjoying heightened status, LG Innotek is pushing hard to improve its brand value, overcoming the limitations as the business-to-business (B2B) company.

Starting in 2023, the company has hosted a public booth at the CES (Consumer Electronics Show), the largest international electronics exhibition held in the US, attracting the attention of a global audience. This year, the number of visitors to LG Innotek's booth has tripled from the previous year, reaching 60,000.

LG Innotek is reaching out to a variety of stakeholders in earnest, including stockholders, the general public, and university students, through online channels, such as YouTube, LinkedIn, and the Newsroom.

Moon, Hyuksoo the CEO of LG Innotek, said, "LG Innotek is a global technology innovator that supports customers to become top leaders in the world with unparalleled technology and differentiated products. We will continue to make multifaceted efforts to enhance our brand value."

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