LG Innotek Sets Sights on Semiconductor Glass Substrate Market, Aims to Double Automotive Electronics Sales

LG Innotek, a leading component supplier, has announced plans to aggressively expand its automotive electronics business and enter the emerging market for semiconductor glass substrates.

The company's CEO, Moon Hyuk-soo, revealed these ambitions during a meeting with reporters following his appointment as an inside director at LG Innotek's annual general meeting. Moon outlined a goal of doubling sales in the automotive electronics segment, from 2 trillion won (approximately $1.6 billion USD) to 5 trillion won (approximately $4 billion USD) within the next five years.

This growth surge is anticipated to be fueled by LG Innotek's strong position in the automotive camera market. Moon highlighted the company's "No. 1 DNA" built upon its success in the Optics Solution Business Unit, boasting a current order backlog of 13 trillion won (approximately $10.4 billion USD) for automotive cameras. He emphasized how this experience with global tech giants has positioned LG Innotek as the world leader in this sector. Moon further hinted at ongoing discussions with Mercedes-Benz regarding potential collaboration in electronic systems, suggesting continued expansion within the automotive technology space.

LG Innotek's foray into the semiconductor glass substrate business is another key takeaway from Moon's address. He acknowledged the significant interest from a major American semiconductor company, a key customer for LG Innotek's existing semiconductor substrate business. Traditionally, these substrates have been constructed from plastic. However, the growing complexity of semiconductor circuits is driving demand for glass substrates, which offer superior performance and lower power consumption. By entering this promising market, LG Innotek appears poised to capitalize on this technological shift.

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