Earnings call transcript: LG Electronics Q3 2025 sees steady sales, profit dip

LG Electronics reported its financial results for the third quarter of 2025, revealing consolidated sales of 21.87 trillion won and an operating profit of 688.9 billion won. Despite maintaining steady revenue levels, the company faced a downturn in operating profit due to heightened global competition and workforce management costs. The stock saw a 1.7% increase, with shares rising by 1,300 won to a closing value of 72,000 won. According to InvestingPro data, the company appears undervalued based on its current trading price relative to Fair Value estimates.

Key Takeaways

• LG Electronics sustained revenue levels despite a slowdown in the display business.
• Operating profit declined, impacted by global competition and workforce costs.
• The company successfully launched an IPO for LG Electronics India Limited.
• B2B sales accounted for 35% of total sales, reflecting a strategic shift.
• LG is expanding its webOS platform and exploring collaborations with NVIDIA.

Company Performance

LG Electronics maintained stable sales figures in Q3 2025, despite challenges in the display sector. The company cited global competition and workforce management costs as factors contributing to the decline in operating profit. Each business segment showed varied performance, with some sectors experiencing losses while others reported profits.

Financial Highlights

• Consolidated Sales: 21.87 trillion won
• Operating Profit: 688.9 billion won
• HS Segment: 6.58 trillion won sales, 365.9 billion won operating profit
• MS Segment: 4.65 trillion won sales, 302.6 billion won operating loss
• BS Segment: 2.64 trillion won sales, 149.6 billion won operating profit
• ES Segment: 2.16 trillion won sales, 132.9 billion won operating profit

Outlook & Guidance

LG Electronics is focusing on accelerating growth in subscription services and online direct sales. The company plans to expand its automotive electronics and HVAC businesses and aims to achieve a trillion-won chiller business within two years. The strategic shift towards qualitative growth and portfolio transformation is expected to drive future performance.

Executive Commentary

Chang-Tae Kim, CFO, emphasized the company’s commitment to reshaping its business structure. "We are committed to reshaping our business structure with the transformation of our portfolios," he stated. A company spokesperson added, "We believe that with a strategic partnership underway, we at LG Electronics will also be able to lead the innovations in future technology."

Risks and Challenges

• Global competition and workforce management costs pose ongoing challenges.
• Macroeconomic uncertainties and U.S. tariffs could impact future performance.
• Stagnant consumer demand in electronics and automotive sectors remains a concern.
• Geopolitical risks may affect global operations and supply chains.

Q&A

During the earnings call, analysts inquired about the proceeds from the India IPO and potential investment strategies. Executives also discussed the expansion of the webOS platform and future growth plans, along with potential collaborations with NVIDIA in robotics and AI data center cooling solutions.

Full transcript - LG Electronics Inc (066570) Q3 2025:

Speaker 1: Good afternoon and welcome to LG Electronics’ quarterly earnings conference call. This conference call will begin with a presentation on the earnings results, followed by a Q&A session. To ask a question, please press star and one on your telephone keypad. Simultaneous English interpretation will be provided for the presentation, followed by a consecutive for the Q&A. Now, I would like to turn the call over to the first speaker.

Won-Jae Park, Investor Relations, LG Electronics: Good afternoon. My name is Won-Jae Park from Investor Relations. Thank you for joining our earnings call for the third quarter of 2025. With me are CFO and EVP of LG Electronics, Chang-Tae Kim, SVP of HS Company, I-kueon Kim, SVP of MS Company, Sang Ho Park, VP of VS Company, Choong-hyun Kim, VP of ES Company, Dong Hoon Shin, VP of Corporate Business Management, Jung-Yeon Park, VP of Accounting, Hong-Su Lee, VP of Finance, Young-Yoon Kim, and Head of ESG Strategy, Seong-Min Hong. Today’s presentation will proceed as follows. Our CFO will begin by presenting our third quarter results, the fourth quarter outlook, and the progress and outcome of our recent IPO for LG Electronics India Limited. I will then present the key financial highlights of the third quarter. Following that, each business will present its individual results and outlook.

Finally, we will conclude with an overview of our ESG activities and achievements. Please note that all statements we make today regarding the financial results of the third quarter are subject to change in accordance with external review. Actual results may differ from today’s outlooks and forward-looking statements due to market uncertainties and strategic changes. Now, let us begin with the performance of the third quarter of 2025 and the outlook for the fourth quarter. Good afternoon. I’m Chang-Tae Kim, CFO of LG Electronics. Our consolidated Q3 financial results show sales of ₩21.87 trillion and operating profit of ₩688.9 billion. Q3 revenue remained at a similar level to last year despite a slowdown in the display business caused by global demand contraction and intensified competition. We continued to achieve qualitative growth driven by our subscription business and online direct sales.

Operating profit declined year over year due to intensified global competition and one-off cost increase related to workforce management efficiency improvements. This can be seen as a preemptive move to enhance competitiveness and build a more dynamic organization. U.S. tariff impacts, geopolitical risks, and the resulting contraction in consumer sentiment are likely to persist into Q4. Intensifying competition continues to put pressure on business operations. We are optimizing our production footprint by leveraging our global operations and applying scenario-based strategies to address challenges such as price increases, aiming to minimize tariff impacts. Following our successful IPO in India, we will drive sales growth in the high-potential global south and strengthen our position in advanced markets through region-specific strategies.

We will accelerate the growth of new business models, including subscription services, the webOS platform, and online direct sales, while further expanding automotive electronics, HVAC, and other B2B businesses to drive qualitative, sustainable growth. Mid to long-term business fundamentals will be reinforced through proactive measures to build a dynamic organization and a strong commitment to improving our cost structure. I would like to share recent progress and future plans regarding the IPO of our Indian subsidiary. To accelerate our growth in India, a market with robust economic momentum, we listed LG Electronics India Limited on the Indian stock market on October 14. Achieving 54 times oversubscription, the highest fundraising in India’s IPO market since 2008, this exceptional local investor demand drove our market capitalization to over ₩18 trillion. During the IPO, LG Electronics sold 15% of its headquarters-held shares in the Indian subsidiary to the market.

The proceeds, about ₩1.8 trillion, were remitted to headquarters after deducting taxes in accordance with Indian tax regulations. Since entering India in 1997, we have built a fully localized business covering production, sales, and service, maintaining the number one share in the home appliance market and strong brand recognition. We believe this IPO will mark a significant milestone towards becoming a true national corporation of India. Through our Make for India reports, we will continue delivering products tailored to local lifestyles. We will also strengthen our localized value chain, including our third manufacturing facility, now under construction, under our Make in India vision. With Make India Global, we aim to drive sustainable growth and support India’s rise on the global stage. Building on these efforts, we will further advance our global south strategy, enhancing our business and reinforcing our position as a leading global company.

I will now briefly review the Q3 2025 performance of the enterprise-wide operations in each business. Our consolidated financial results for Q3 are ₩21.87 trillion in sales and ₩688.9 billion in operating profit. HS recorded ₩6.58 trillion in sales and ₩365.9 billion in operating profit. MS recorded ₩4.65 trillion in sales and ₩302.6 billion in operating loss. BS recorded ₩2.64 trillion in sales and ₩149.6 billion in operating profit. Lastly, ES recorded ₩2.16 trillion in sales and ₩132.9 billion in operating profit. Since Q1, we have dedicated a separate focus to B2B and subscription businesses, which are core drivers of qualitative growth in our portfolio transformation, as mentioned by our CFO. In Q3, B2B IT sales targeting corporate clients declined year over year due to weaker demand. However, solid growth in built-in appliances supported overall year-over-year sales growth.

The contribution of B2B to total sales also showed a slight improvement compared to last year. In the subscription business, we further strengthened our competitive advantage in the Korean market through differentiated care services, maintaining strong growth momentum of over 30%. Overseas, the subscription business continues to grow steadily, expanding into new markets such as Singapore this year, following Malaysia, Thailand, and Taiwan. Although still in its early stages, rapid overseas expansion has increased the contribution of international sales to overall subscription revenue year over year. We remain committed to driving growth by further advancing our portfolio in areas such as B2B and subscription. Moving on to the income statement and cash flow for Q3. Reflecting financial income and expenses, equity method gains and losses, other non-operating items, corporate tax, and discontinued operations, Q3 net income was ₩461 billion. Now, let’s look at cash flow.

Cash flow from operating activities was ₩1.63 trillion, while cash flow from investing activities was negative ₩1.76 trillion, resulting in a net cash flow of ₩694 billion. When reflecting cash flow from financial activities of negative ₩311.6 billion, the cash balance at the end of Q3 stood at ₩7.95 trillion, a ₩382.4 billion increase from the previous quarter. Key financial position and indicators for Q3 2025 are as follows. At the end of Q3, assets stand at ₩67.2 trillion, liabilities at ₩40.3 trillion, and equity at ₩26.9 trillion. Leverage ratios, including liability to equity, debt to equity, and net debt to equity, remain at healthy levels. Now, we will hear from each business company regarding its Q3 results and Q4 outlook, beginning with HS. Here are the Q3 results for the HS business.

Global appliance market sentiment was slow to recover due to tariffs, a weaker outlook for rate cuts, and geopolitical risks in Europe and the Middle East. Nevertheless, we achieved year-over-year growth through our two-track strategy, targeting both premium and volume segments and expanding online and subscription businesses. Operating income remained on par with last year despite the full impact of U.S. tariff changes, supported by sales improvement initiatives such as increased sales volume and price adjustments, along with cost-cutting measures through site optimization, manufacturing cost reductions, and improved cost efficiency. Looking ahead to the fourth quarter, recovery in global appliance market demand remains uncertain, with ongoing challenges further intensifying competition. In response, we will work to sustain sales growth momentum by continuing our two-track strategy, accelerating the growth of incubating products, and enhancing our portfolio through qualitative growth in B2B, online, and subscription businesses. To mitigate the impact of U.S.

tariff policies, we aim to improve year-over-year profitability by implementing scenario-based measures, optimizing our cost structure, and reducing fixed costs. Let’s now turn to the Q3 results for our MS business. Sales rose quarter over quarter in preparation for the peak season but fell year over year due to stagnant demand for TVs and other hardware, as well as intensified competition. Operating income declined both quarterly and annually, impacted by higher competition-related costs and a one-off voluntary retirement expense aimed at fostering a virtuous workforce cycle. Our outlook for the fourth quarter is as follows. Demand stagnation is expected to persist as consumer sentiment weakens amid macroeconomic uncertainties, including rising protectionism and unclear timing and scope of interest rate cuts.

To address these challenges, we will focus on improving profitability through enhanced operational efficiency while sustaining growth momentum via expansion of the webOS platform and implementation of our global south strategy. I will now review the Q3 results of VS Company. Despite sluggish sales in Europe, sales conversion from our stable order backlog allowed us to sustain year-over-year growth momentum. Operating profit improved both quarter over quarter and year over year, driven by operational cost optimization and proactive cost improvement initiatives. Here’s our outlook for the fourth quarter. Global market demand is expected to contract or remain stagnant, except in China, due to changes in EV subsidy policies in the U.S. In response, despite significant shifts in the external environment and rising macroeconomic uncertainties, we will work to secure stable profitability by continuously improving our product mix and cost structure while further enhancing operational efficiencies.

Let me outline the Q3 results of ES Company. Despite lower overseas sales from uncertainties like tariff impacts and rising geopolitical tensions and weak consumer sentiment, overall sales rose slightly year over year, driven by our successful capture of peak season demand for residential ACs and dehumidifiers in Korea, along with increased subscription and online direct sales. Profitability decreased year over year as higher sales deductions and increased labor costs from hiring for key businesses offset the positive impact of solid domestic sales and improved material costs. Next is our outlook for the fourth quarter. The Korean market is forecast to shrink, facing headwinds from seasonal demand slowdown, reduced government support, and a downturn in the construction market. In overseas markets, uncertainties are likely to persist, primarily due to U.S. tariff policies.

In response, we will aim to sustain growth momentum by accelerating portfolio transformation towards subscription business and online direct sales, while expanding our overseas presence with new domestic models and locally tailored products. For profitability, we will closely monitor developments in U.S. tariff policies and continue to strengthen our cost competitiveness. Finally, let’s turn to our ESG activities and achievements. Our HVAC solutions are gaining recognition for their sustainability. TÜV Rheinland verified that our system AC units reduce CO2 emissions by 14.85 kilograms per unit through a physical foaming process that decreases plastic consumption. Furthermore, our BEMS at the Pusan National Institute of Technology was recognized by the Korea Energy Agency for achieving an average annual energy saving of 8.4% over three years, becoming the first system to receive a validity period extension under the BEMS insulation certification. We are also enhancing the competitiveness of our high-efficiency AI-powered appliances.

We have signed an exclusive contract with Sentry Communities, a major U.S. homebuilder constructing over 10,000 homes annually, to supply newly built homes with our high-efficiency AI-powered appliances through 2029. LG Electronics won awards for 13 of the 45 green products of the year, the most for any company from the Korean Green Purchasing Network and its partners, marking our record-breaking 16th consecutive year of being honored. Lastly, we are broadening our range of products and services to ensure accessibility for all. We launched the LG Easy TV for seniors, featuring an easy-to-use home screen and video calls and medication reminders. Additionally, our Easy Home Appliance Project, an employee volunteer program, will partner with 20 welfare centers nationwide to help customers with disabilities confidently use our products. LG Electronics remains committed to achieving sustainable technological competitiveness and building trust through products and services that serve everyone.

This brings us to the end of LG Electronics’ third-quarter earnings release and the fourth-quarter outlook for 2025. We will now take questions. Operator, please commence with the Q&A session. 지금부터 질의응답을 시작하겠습니다. 질문을 하실 분은 전화기 버튼의 별표와 1번을 누르시기 바랍니다. 질문을 취소하시려면 별표와 2번을 누르시면 됩니다. Now Q&A session will begin. Please press star one, that is star and one, if you have any questions. Questions will be taken according to the order you have pressed the number star one. For cancellation, please press star two, that is star and two on your phone. 처음으로 질문해 주실 분은 시티그룹의 이세철 님입니다. The first question will be provided by Peter Lee from Citigroup. Please go ahead with your question. 이세철 님, 질문해 주시기 바랍니다. If you can hear me, we welcome your questions. 네, 안녕하세요. 시티그룹 이세철입니다. 저는 전사 쪽하고 그리고 MS 본부 쪽 질문 드리겠습니다.

먼저 전사와 관련해서 성공적인 인도 IPO 축하드립니다. 인도 법인의 상장으로 구주 매각 대금이 들어올 텐데요. 이에 대한 운영 계획은 어떻게 생각하고 계신지 궁금하고요. 그리고 두 번째 질문은 MS 쪽, MS 본부 쪽 질문 드리겠습니다. 웹OS 기반 플랫폼 사업이 순조롭게 성장해 온 것으로 알고 있는데요. 만약 하드웨어 판매 경쟁력이 약화되면 향후 플랫폼 사업에도 악영향이 있는 것은 아닌지 궁금하고요. 이에 대한 대응 방안이 있으시다면 설명 부탁드리겠습니다. 감사합니다. Thank you for giving me this opportunity. I have two questions, one for the company as a whole and one for MS. First of all, I would like to congratulate you on the successful listing of your Indian subsidiary. I would like to ask, how do you plan on using the funds from the secondary sale of your stakes in the Indian subsidiary? My second question is on MS. I understand that you have seen a growth in webOS-based platform business. However.

At the circumstances when hardware competitiveness is becoming weaker, do you believe that your software competitiveness would also follow this trend? I would like to ask the countermeasures of your company. 네, 전무님, 그 질문 감사합니다. IPO 관련 질문에서는 CFO께서 답변하시면 될 것 같고요. 플랫폼 관련해서는 MS 경영관리 담당께서 답변을 좀 부탁드리겠습니다. Thank you for your question. With regards to your IPO question, it will be answered by our CFO. For the MS, it will be answered by the MS company. Thank you. 네. 인도 법인의 상장을 통해서 확보된 자금의 활용 방안에 대해서는. 미래 성장 분야 투자를 통한 중장기 성장 동력 확보, 그리고 기존 사업의 경쟁력 제고 등. 기업 가치와 주주 가치를 제고하기 위해 다양한 옵션을 검토하고 있습니다.

On how we intend on using the proceeds from the listing, various options, including funding our mid to long-term growth engines and building on our existing business, are being reviewed, and we are bearing in mind our commitment to raising our corporate and shareholders’ value. 참고로 당사는 HVAC을 포함하여 사업 포트폴리오 전환의 핵심 영역들에서 인오가닉 성장 기회를 적극 탐색하여 왔으며, 올해에도 노르웨이의 오소사를 인수하는 등 실질적인 성과도 도출한 바 있습니다. We have been proactive in identifying inorganic growth opportunities across our key business portfolios, including HVAC. This year, we have harvested actual results, as exemplified by our acquisition of the Norwegian company OSO. 성장 동력 확보의 가속화를 위해서는 필요 영향을 적기 확보하는 것이 매우 중요한 만큼, 이번에 확보된 추가적인 자금 여력을 활용해서 과거 대비 보다 적극적이고 과감한 투자를 촉진할 계획이며. 기존 주력 사업의 운영 효율성과 원가 구조를 개선하기 위한 방안에 대해서도 자원 투입이 필요하다고 판단됩니다.

아울러 주주 가치를 제고하기 위한 다각적인 방안 또한 고려하고 있습니다. We recognize the importance of being equipped with the relevant capabilities across our growth trajectory and making fast headway, which is why we will take more proactive and bolder steps with our investments, drawing on the added capital. In addition, we also deem it necessary to invest in streamlining the operations of our key business, as well as our overall cost structure. Enhancing our shareholders’ values also stands as an important consideration. 말씀드린 각 옵션별 자원 투입 규모는 회사의 캐시풀 상황과 연계하여 면밀한 검토를 통해 결정할 예정이며, 계획이 구체화되면 추가로 소통하겠습니다. Decisions on how much capital we will allocate will be made upon keen review in light of our current cash flow, and we will ensure to communicate with the market as soon as details have been decided. Thank you.

네, 그 웹OS 플랫폼 사업 관련 질문에 대해서는 MS 사업 본부에서 설명을 좀 드리겠습니다. TV 수요가 정체된 상황 속에서 업체 간 경쟁이 지금 심화되고 있기 때문에. 올해 들어 당사의 그 TV 하드웨어 판매 대수는 전년 대비 감소했습니다. 하지만. 웹OS 플랫폼 사업은 경쟁이 치열해지고 있는 시장 환경 속에서도. LG전자는 최근 3년간 7천만 대의 사업 모수를 더해. 2025년 현재 2억 6천만 대를 달성하며 생태계를 확장하고 있습니다. 이를 기반으로. 매출 측면에서는. 연평균 60% 이상 성장하고. 2024년 만 1조 원을 돌파한 이후. 두 자릿수 이상의 견조한 영업 이익률 또한 유지하고 있다는 말씀을 드립니다. Your question in regards to webOS platform will be covered by MS. While overall TV demand has remained stagnant, intensified competition among manufacturers has led to a year-on-year decline in our TV sales this year.

However, in the webOS platform market, despite the increasingly competitive environment, LG Electronics have added 70 million units to our installed base over the past three years, reaching 260 million units as of 2025, expanding our ecosystem. On the back of this growth, our revenue has increased by more than 60% year-on-year, surpassing ₩1 trillion by the end of 2024, while maintaining a solid double-digit operating profit margin. 향후에 그 플랫폼 사업의 자체 경쟁력을 강화하기 위해서. 우선적으로는. 하드웨어 판매 실적을 강화하여. 웹OS 플랫폼 사업 모수를 확대하여 나가는 것과 동시에. 중요한. LG 스마트 TV 보유 소비자 중에서 보면. 웹OS 플랫폼 제공 서비스를 사용하지 않는 사람들이 있습니다. 이런 비사용자를 사용자로 전환시키는 사업 전략을 강력하게 추진하고 있습니다. To strengthen the inherent competitiveness of our platform business, webOS, we firstly aim to boost hardware sales to expand the installed base of our webOS platform.

At the same time, we’re also pursuing to convert the existing LG Smart TV owners, but who are not users of webOS services, into active users. 그 또한 그 타사 브랜드 TV에. 웹OS 적용을 확대시키는. 웹OS 허브 사업을 통해서. 웹OS 플랫폼 사업 업체의 저비를 넓혀서. 사업 모수 확보에 총력을 기울이는 것도 하고 있습니다. 이를 통해서. 30년까지 현재 대비 2배 이상의 물량을 확보하고. 여기에서 발생되는 광고 및 콘텐츠 매출 확대도 가속화해 나가고자 합니다. In addition, through the webOS hub business that expands the application of webOS to TVs from other brands, we are also working to broaden the base of webOS platform users and secure a larger business scale. We plan to more than double the current volume by year 2030, and the expanded base will serve as a foundation to accelerate growth in advertisements and content revenue.

나아가 그 TV 영역을 넘어서 스마트 모니터라든지 디지털 사인이지, 또 모빌리티 차량 등 다양한 기기로 웹OS 생태계를 확장하여 사업 모수를 지속 확대하고. 개발 차원에서도 다양한 기기 간 유기적으로 연결된 생태계를 구축하기 위해 자사는 노력을 하고 있습니다. Beyond the TV segment, we plan to extend the webOS ecosystem into smart monitors, digital signage, mobility, and others, thereby enlarging our business base. From a development standpoint, we’re working hard to build an ecosystem where various devices are seamlessly connected and work together. 그 마지막으로 더욱 치열해지고 있는 광고 시장에서. LG전자의 사용성 데이터를 활용하고. 신규 상품을 개발하여. 광고의 판매 단가를 방어하고. 또 주요 시장에서의 영업력을 강화할 계획입니다. 그리고. 무료 TV 스트리밍 서비스인 LG 채널에 효율적인 콘텐츠 투자를 통해서. 서비스 사용자와. 시청 시간을 증가시키고, 이를 통해서 플랫폼 사업의 지속적인 성장을 만들어 나가겠습니다.

Last but not least, in the advertising market where the competition is becoming fiercer, we plan to leverage our usability data and develop new products to protect our CPM rates while strengthening our sales capabilities and fill rate in key markets. In addition, through efficient content investment, we aim to grow monthly active users and viewing time, driving the continued growth of our platform business. 네, 이 정도로 플랫폼 사업 관련해서 답변을 마치도록 하겠습니다. So this was about platform business. Thank you. 다음 질문 부탁드립니다. Next question, please. 다음으로 질문해 주실 분은 하나증권의 김민경 님입니다. The following question will be presented by Min-kyung Kim from Hana Securities. Please go ahead with your question. 안녕하세요, 하나증권 김민경입니다. 질문 기회 주셔서 감사합니다. 저는 전사랑 VS 부문 회사 관련 질문 하나씩 드리겠습니다. 첫 번째로는 언론 보도를 통해서 지난 3분기에 이어서 4분기에도 희망 폐지 진행 중인 것으로 알고 있습니다.

희망 폐지 관련해서 3분기랑 4분기에 각각 어느 정도 비용 발생하는지 궁금하고요. 두 번째 질문은 VS 부문입니다. 거시 경제 불확실성에도 불구하고 이번 분기 포함해서 올해 효실적. 보여주셨다고 생각을 하고 있습니다. 이와 관련해서 올해 하반기랑 내년 본부 실적 전망 어떻게 예측하시는지 궁금합니다. Thank you for giving me this opportunity. I also have two questions, one for the company as a whole and one for VS. For the company, there were press reports on the corporate-wide voluntary buyouts offered in quarter three and four. What were the costs incurred from these voluntary buyouts? And my second question is on VS. Despite the uncertainties in macroeconomy, I believe that your performance remained very well. I would like to listen to your projections on the second half and next year. 네, 희망 폐지 관련된 거는 IR에서 얘기하면 될 것 같고요. VS는 VS 경영 관리 담당께서 좀 답변 부탁드리겠습니다. 먼저.

희망 퇴직에 관련해서 좀 말씀을 좀 드리겠습니다. LG전자는 중장기 사업 경쟁력 강화하고 또 인력 선순환 구조 확보를 위해서 희망 퇴직을 실시하기로 결정을 했고요. 3분기에는 MS 본부부터 이제 시작을 했습니다. 일부 타 조직이 있긴 합니다만, 4분기는 전사 조직으로 좀 확대하겠다라는 뉴스들을 보셨을 텐데요. 실제로 이제 그것들이 실시되고 있는 상황입니다. I think the question on the voluntary buyouts will be answered by the IR division and the one on VS by VS company. Starting with the voluntary buyout question, as part of our efforts in fueling our mid to long-term competitive edge and reshaping our workforce, we have started to offer voluntary buyouts as of quarter three for MS and certain other divisions, and as of quarter four across the entire company. 3분기 진행된 희망 퇴직으로 반영된 비용은 한 1,000억 정도 수준이고요. 4분기 희망 퇴직은 아직 그 관련 절차가 진행 중이기 때문에 세부적으로 말씀드리기는 좀 어렵다는 사실을 좀 양증해 주시면 좀 좋겠습니다.

이번 희망 퇴직으로 인해서 단기적으로는 비용 부담이 좀 있겠습니다만, 재무적 효과는 내년부터 바로 나타날 것으로 좀 긍정적인 효과를 좀 기대를 하고 있고요. 중장기적으로는 고정비 구조 개선 및 조직 역동성 강화 관점에서 좀. 긍정적으로 좀 반영되는 전환점이 될 것으로 예상을 하고 있습니다. Cost involved for the voluntary buyouts offered during quarter three stood at ₩100 billion, but for quarter four, it is difficult to provide the numbers as we are still in the process of accepting the resignations, and we ask for your understanding in this regard. The recent buyouts may weigh on our short-term costs, but we expect it to serve as a positive turnaround starting next year in streamlining our fixed costs over mid to long term and revitalizing our organization. 예, VS 본부 관련 질문 답변 드리겠습니다.

VS 본부는 여러 불확실성 요인에도 불구하고 IBI의 제품 믹스 개선과 수익 구조 개선 활동에 힘입어 전기차 캐즘 영향을 극복하고 견조한 매출 성장 및 수익성 개선을 지속하고 있습니다. I would like to answer your question about VS. Despite various uncertainties, we’re seeing solid sales growth and steady profitability improvements continue driven by IBI mix enhancements and profitability structure initiatives that help us overcome the effects of EV chase. 매출 측면에서는 유럽 고객사 중심의 주문 증가 및 안정적인 수주 잔고 기반의 매출 증가로 성장세를 유지하고 있습니다. 다만 4분기에는 미국 전기차 보조금 폐지 영향으로 인한 일정 기간의 OEM 물동 조정 등 부정적 영향이 우려됩니다. 이에 대응하여 당사는 전기차 수요 둔화 장기화에 대한 리스크는 지속적인 모니터링과 전망 예측을 통해 시장 상황에 유연하게 대응할 수 있는 운영 체계를 구축하고 시장 수요 변화에 대응하여 XHB 매출 확대 등과 같은 대응 전략을 실행하고 있으며.

미국의 관세 관련 정책 변화는 글로벌 OEM과 Tier 1들이 함께 영향을 받는 불확실성 상황으로 당사만의 리스크는 아니나 고객사와 긴밀한 협의를 통해 전체 리스크 축소와 함께 당사의 리스크는 최소화하는 방향으로 활동을 진행하고 있습니다. Sales-wise, we have continuous growth momentum supported by rising orders from European OEMs and a stable order backlog. However, in Q4, we expect potential headwinds from factors such as stagnant EV demand and discontinuation of U.S. EV subsidies, which may lead to temporary adjustments in OEM shipment volumes. To address these challenges, we’re preparing strategies such as expanding XHX sales, establishing an operating system that enables us to respond flexibly to market conditions through continuous monitoring and forecasting of risks of prolonged EV demand slowdown. For the recent changes in U.S. tariff policies are creating uncertainties that affect not only us but also global OEMs and Tier 1 suppliers.

In other words, the changes are not a risk unique to our company. However, we would like to work closely with our customers, aiming to reduce the overall risk and keeping our own risks to a minimum. 영업 이익의 경우 매크로 불확실성에 따른 매출 영향과 SDB 관련 미래 R&D 비용 증가 등의 요인으로 인해 분기 단위로는 일정 정도 수익성 등락이 발생할 수 있으나 전 제품 영역에서 지속적인 제품 믹스 개선과 함께 완성차 OEM과의 협력 강화 및 운영 비용 최적화 등 한계 돌파 관점의 원가 비용 구조 개선 노력을 통해 2026년 이후에도 견조한 수익성 개선을 추진하고자 합니다. 이상입니다. As for operating profit, there may be some quarterly profitability fluctuation due to macroeconomic uncertainties affecting sales and increased future R&D costs related to SDV.

However, we aim to maintain solid profitability well beyond 2026 through enhancing our operation structure from a breakthrough perspective, such as making continuous improvements in product mix, strengthening collaboration with OEMs, and optimizing operating costs. Thank you. 다음 질문 부탁드립니다. Next question, please. 다음으로 질문해 주실 분은 삼성증권의 이종욱 님입니다. The following question will be presented by Jong-wook Lee from Samsung Securities. Please go ahead with your question. 안녕하세요, 삼성증권 이종욱입니다. 질문 기회 주셔서 감사합니다. HS 부문 하나, ES 부문 하나 질문 드리겠습니다. 먼저 HS 부문에서는 관세 문제가 궁금합니다. 3분기에 상호 관세 그리고 다른 철강 관세처럼 미국 관세 영향이 어느 정도 비용이 발생했는지, 그리고 그로 인해서 판가가 전가가 얼마나 되었는지, 판가 인상으로 수요 영향이 있었는지 설명 부탁드립니다. 그리고 추가적인 대응 방안이 있으시면 공유 부탁드립니다. 다음으로 ES 부문에서는 데이터 센터용 칠러 관련 질문인데요. 칠러 그리고 데이터 센터 쿨링 솔루션 관련해서 성장 가속화 전략을 말씀 주셨었는데 현재 추진 경과가 어떤지 문의드립니다.

Good afternoon. Thank you for this opportunity. I have brought two questions, and my first one is on HS. Could you walk us through how U.S. tariffs, including mutual tariffs and those on steel-related products, have affected your costs in Q3? It will be also appreciated if you can add more color on adjustments on your average selling prices and the following impact on demand. Also, please share any additional response measures you’re currently pursuing, if any. My second question goes to ES. What is the trajectory like for your growth strategy on chillers and cooling solutions for data centers? 예, 관세 관련 질문은 HS 경영 관리 담당님께서 답변해 주시면 될 것 같고, 칠러 산업 관련 질문은 ES에서 답변 부탁드리겠습니다. The first question on U.S. tariffs will be covered by HS business management division, and the second one about chiller business will be covered by ES.

예, HS에서 먼저 답변 드리겠습니다. 예상한 것처럼 3분기부터 관세 부과에 따른 영향이 본격화되었습니다. 이에 대응한 당사의 선제적 대응 활동의 효과 역시 확대되고 있습니다. 전체 전사적으로 볼 때. 6,000억 정도의 관세 영향이 좀 예상이 되고요. 저희 본부에서는 선제적으로 해서 생산지 최적화와 판가 인상 추진, 그리고 원가 구조 개선 등의 대응 활동을 통해. 관세 영향의 상당 부분을 성공적으로 해칭을 하였습니다. 그리고 미국 수요 관련해서는. 미국 가전 협회에서 발표한 미국 내 가전 시장의 출하량의 3분기 누적 0.1% 신장으로 전년 수준이 유지되었으나, 관세 부과가 시행되기 이전 유통들의 선행 구매를 감안할 때 실질적인 시장 수요는 신장으로 보기에는 무리가 있어 보입니다. 반면에 당사는 신제품 출시 및 효율적인 판매 프로그램 운영을 통해 3분기 누적 2.2% 신장하여 시장 수요 대비 높은 신장률을 보였습니다. This is your answer, if this is the answer on your question about HS. As expected, the impact from tariff imposition began to materialize in earnest from Q3.

The effects of our proactive countermeasures have also been expanding. Corporate-wide, the impact from tariffs reaches ₩600 billion. However, we have successfully managed to hedge a significant portion of the tariff impact through initiatives such as production site optimization, price increases, and improvements in our cost structure. In the U.S. market, according to shipment data released by the Association of Home Appliance Manufacturers, cumulative shipments in the U.S. home appliance market grew by 0.1% in Q3, maintaining last year’s level. However, considering the advanced purchases made by distributors before the tariffs took effect, it is difficult to view this as genuine market demand growth. On the other hand, thanks to new product launches and the efficient execution of our sales programs, our cumulative growth in Q3 rose by 2.2%, outperforming overall market demand.

그리고 추가적인 판가 인상은 3분기에 들어서 업계 전반으로 판매가의 소폭 인상 신호가 시장에서 감지되고 있는 점과 주요 절기 판촉 경쟁이 지속되는 상황 등의 여러 관점을 충분히 고려하여 판가 운영을 검토하고 있습니다. 유통과 긴밀하게 협의를 진행하면서 신중하면서도 효과적인 운영으로 미국 내 마켓 셰어를 수성하고 있습니다. 하반기에는 상반기 대비 관세 영향도가 커지고 있지만, 당사는 생산지 최적화를 중심으로 한 원가 절감 활동 등 추가 대응 방안을 통해 관세 부담을 이겨낼 것입니다. 미국과 멕시코 생산지에서의 공급을 확대하고 있으며, 세탁기의 경우 10월부터 멕시코, 멕시컬리 지역에 생산지를 추가 운영하여 관세 대응의 유연성을 확보하였습니다. 이상입니다. Selling price strategies are under review, considering multiple perspectives such as a slight upward trend in the industry detected in Q3 and the ongoing competitive promotional activities during key seasonal periods. By working closely with our distributors, we are maintaining our U.S. market share through prudent yet effective operations.

In the second half, we are witnessing greater tariff impact than the first one. Nevertheless, we will overcome the circumstances through additional countermeasures, particularly cost reduction activities centered on production site optimization. We are expanding supply from our U.S. and Mexico production sites, and for washing machines, we have added a new production facility in Mexicali, Mexico, starting in October, securing greater flexibility in responding to tariffs. Thank you. 네, 다음 칠러 사업 관련 질문에 대해서 ES 본부에서 답변 드리겠습니다. 먼저 칠러와 관련해서. 당사는 대형 냉각 설비인 터보 칠러와. 중소형 설비인 스크롤 칠러 등 세계 최고 수준의 칠러 라인업을 기반으로 제품 포트폴리오를 다양화하고 있고. 제품 중심에서 유지 보수 서비스로의 확대를 통해 사업 성장을 가속화하고 있습니다. 코어 테크라고 할 수 있는 마그네틱 베어링 압축기와. 대용량 인버터를 자체 개발하여. 고효율 친환경 냉각 솔루션을 구현하고 있으며, 이를 바탕으로 글로벌 주요 프로젝트를 포함하여 수주 실적도 2024년 대비 17% 이상 성장이 예상되며 빠르게 확대하고 있습니다.

Let me answer your question on chillers. We provide a diverse lineup of best-in-class chillers, ranging from our turbo chillers serving large capacities to scroll chillers suitable for mid to small loads. We are driving the momentum of our growth as we evolve from being a product-only provider to delivering services like maintenance. We are able to provide highly efficient and eco-friendly cooling solutions with the development of our proprietary magnetic bearing compressors and high-capacity inverters, both of which are core technologies. Drawing on these solutions, compared to 2024 and 2025, we expect to achieve 17% growth in our orders, which includes major global projects, and we continue to ramp up the orders. 특히 금년 데이터 센터 분야에서는 전년 대비 약 3배 이상 증가한 수주 성과가 예상되며 향후에도 지속 성장할 것으로 예상하고 있습니다. 북미 지역에서는 대형 프로젝트를 이미 수주 완료하였고 추가 수주도 확대하고 있습니다. 아시아 지역의 경우.

ONE LG 시너지를 기반으로 LG CNS, LG 에너지 솔루션과 협력하여 시나르마스 프로젝트를 수주 완료하였습니다. 중동 지역의 경우. 800MW 규모의 하이퍼스케일 데이터 센터에 당사의 칠러를 이미 납품 중인 상황이며. MOU를 체결한 데이터볼트와의 협력을 바탕으로 중동 지역 사업을 확대하고자 합니다. This year, we expect bookings in data centers to triple compared to 2024, which will continue to gain traction moving forward. Orders for large-scale projects have already been made in North America, which continue to be added. In Asia, together with LG CNS and LG Energy Solution under the One LG Solution strategy, we have successfully been selected to provide cooling solution to Sinar Mas. In the Middle East, our chillers are currently being supplied to an 800MW hyperscale data center, while an MOU has been signed with DataVolt, which will pave way for greater opportunities in the Middle East. 또한 핵심 냉각 기술 분야에서도 GRC사와의 글로벌 파트너십을 통해 기술 경쟁력을 강화함으로써.

고발열 AI 서브 대응 역량을 한층 높였습니다. 아울러 R&D, 엔지니어링, 영업 등 전방위 인력 확충을 통해 기술 내재화와 함께 글로벌 시장 대응력을 지속적으로 강화하고 있습니다. For liquid immersion cooling, we were able to position our capabilities in AI thermal management, a step further as we partnered with the U.S. GRC to enhance our tech co-ops. Furthermore, we plan on hiring workforce across multiple functions from R&D, engineering, and sales as part of our commitment to build on our technology and well respond to the global market. 당사는 또한 데이터 센터 영역에서. 고발열 AI 서버에 대응하기 위한 칩 냉각 솔루션인 CDU 기술을 확보하고. 연내 상용화를 앞두고 있습니다. 이러한 칩 냉각 기술은 글로벌 빅테크 기업인 마이크로소프트와의 파트너십을 통해 기술 경쟁력을 검증받았으며, 이를 기반으로 데이터 센터 냉각 솔루션 사업을 본격 확대하고 있고. AWS, 엔비디아 등 선도 기업과의 협업도 적극 추진 중입니다.

In assisting data centers to address high heat loads driven by AI servers, we have developed our direct-to-chip cooling solutions, the Coolant Distribution Unit, which will be ready for commercialization by the end of the year. The partnership we have underway with the global tech player Microsoft has proven the technology of our CDU, which will pave the way for greater business opportunities in the data center cooling business. Proactive collaboration is also being sought after with leading players including AWS and NVIDIA. 향후 고효율 칠러 기술과 데이터 센터 냉각 솔루션을 통합한 신규 사업 모델로 발전시켜. 시스템 통합 운영 및 서비스를 아우르는 토털 쿨링 솔루션 기업으로 도약할 계획을 세워 실행해 나가고 있으며, 이를 기반으로 칠러 사업을 2년 내에 1조 원 규모의 유니콘 사업으로 육성해 나갈 것입니다. 감사합니다.

Integrating our high-efficiency chillers with data center cooling solutions as a new business model, we will advance ourselves to providing cooling solutions encompassing the entire value chain from system integration and operation to services. This commitment will guide us in driving our chiller business to becoming a KRW 1 trillion unicorn business within the next two years. Thank you. 다음 질문 부탁드립니다. Next question, please. 다음으로 질문해 주실 분은 DB증권의 조현진 님입니다. The following question will be presented by Hyunji Jo from DB Securities. Please go ahead with your question. 안녕하세요, DB증권의 조현진입니다. 질문 기회 주셔서 감사합니다. 저는 전사하고 HS 사업부 각각 하나씩 총 두 가지 질문 드리려고 하는데요. 먼저 첫 번째로 회사가 지속적으로 사업 포트폴리오상의 질적 성장에 대해서 강조해 주고 계신 것 같습니다. 이와 관련해서 질적 성장 측면에서 조금 더 구체적으로 어떤 성과가 발생했는지, 그리고 향후 계획이 어떻게 되시는지 공유 부탁드리겠습니다.

그리고 두 번째로는 최근 휴머노이드를 비롯해서 로봇 산업에 대한 관심이 지속적으로 확대되고 있는 상황인데요. 저희도 로봇 사업을 진행하고 있으신데 고객사 확보 상황이 어떻게 되시는지, 또 향후 사업 전략을 어떻게 가져가고자 하시는지에 대해서 궁금하고, 마지막으로 추가적인 M&A나 사업 확대 로드맵이 있는지에 대해서도 알려주시면 감사하겠습니다. 이상입니다. Thank you for this opportunity. I also have two questions, one for the company as a whole and one for HS. For the company, you have emphasized the importance of your qualitative growth areas. Can you share on the progress and your future cadence? My second question is on HS. Interest in the robotics industry, including humanoids, has been steadily growing. I would like to know the current status of customer acquisition of your robotics business and also your future business strategy as well. Additionally, could you share your plans for further M&A or a roadmap for business expansion? 질문 감사합니다.

질적 성장 관련해서는 저희 전사 경영 관리 담당께서 좀 답변 주시면 좋을 것 같고요. 로봇 사업은 저희 HS 경영 관리 담당께서 좀 말씀 주시면 좋겠습니다. Thank you for your questions. Your question on qualitative growth will be answered by our Corporate Business Management, while for the robotics business, it will be answered by HS. 먼저 질적 성장 관련 문의에 답변 드리겠습니다. 최근 사업 환경의 불확실성은 지속되고 있지만, 당사는 사업 포트폴리오 개선을 위해서 성장 잠재력이 크고 중장기적으로 회사의 수익성을 개선할 수 있는 B2B 사업, 난 하드웨어 사업, D2C 사업과 같은 질적 성장 영역에서. 구체적인 성과를 만들어내고 있습니다. 이미 이러한 사업 분야들이 전사 매출에서 차지하는 비중이 45% 수준에 이르렀고, 수익성 또한. 견조한 개선 추세를 만들어내고 있습니다. 각 세부 영역의 성과들은 좀 더 구체적으로 말씀드리겠습니다. Let me answer your question on qualitative growth areas.

Though uncertainties remain across the business landscape, we are committed to reshaping our business structure with the transformation of our portfolios, and we have reached actual results in qualitative areas including B2B, non-hardware, and D2C that pose huge growth potential as well as opportunities to improve our profitability. Our qualitative growth areas contribute to 45% of our entire sales, while profitability continues to gain upward momentum. Let me provide you with the details. 먼저 B2B 사업 영역은 이미 회사 전체 매출의 35%를 넘어서며 주력 사업 분야가 되었습니다. 이 중 전장 사업은 글로벌 수요 정체 상황에서도 지속적인 제품 믹스 개선과 고객 파이프라인 확대를 기반으로 100조 원 수준의 수주 잔고를 유지하면서도 매출 성장 및 전년 대비 확연히 개선된 수익성 추이를 보이고 있습니다. As a start, our B2B sales have already surpassed 35% of the company’s entire sales, positioning the business as a key area.

Of our B2B, automotive electronics have sustained a stable order backlog, standing at ₩100 trillion realized with better product mix and growing customer pipeline against the stagnant demand. 그리고 미래 성장 동력 중 하나인 스마트 팩토리 사업도 기존의 계열사 중심의 사업을 넘어 외부 고객 대상의 수주를 빠르게 확대하면서 25년 사업 목표를 초과하는 수주 매출 실적을 달성할 수 있을 것으로 예상됩니다. 앞으로도 중공업, 바이오, 반도체 분야 등 핵심 장비 수주 및 해외 기업 고객 대상 수주 활동 강화를 통해 수년 내 조 단위 사업으로 성장할 것입니다. For smart factories, one of our future growth engines, we expect our sales from orders to surpass that of our 2025 target as we extended our customer base of group affiliates to encompass external clients.

Going forward, we will scale the business to unlock trillion in sales within the next couple of years drawn from business overseas, as well as orders in verticals for semiconductors, biologics, and heavy industries equipment. 아울러 HVAC 분야는 적극적인 해외 시장 진출 전략의 성과로 의미 있는 대규모 수주가 이어지고 있고, 특히 시장의 관심이 집중된 데이터 센터 관련 사업의 경우에는 앞에서도 말씀드렸지만 중동, 북미, 아시아 등 주요 지역에서의 초대형 데이터 센터 프로젝트 수주에 힘입어 올해는 전년 대비 3배 이상의 수주 확보가 예상되는 등 향후 높은 성장이 가능할 것으로 생각합니다. For HVACs, we have seen continued momentum in our orders for large-scale projects driven by our proactive entry into the global market. Currently, in the limelight, chiller bookings for data centers have surpassed this year’s target, expected to jump threefold from last year, supported by orders from large-scale data centers across key regions, including the Middle East, North America, and Asia.

그리고 자사 사업 모델의 혁신을 통한 질적 성장 아이템인. 가전 구독과 온라인 직접 판매 분야에서도 의미 있는 성과가 이어지고 있습니다. 가전 구독 사업은 제품과 채널의 구독 전환 가속화를 통해서. 한국 시장 3분기 누적 기준으로 전년 동기 대비 20% 후반의 매출 성장과. 10% 중반의 누적 계정 수 증가를 확보하였고, 해외 지역에서도 올해 3분기 누적 매출이 전년 대비 50% 이상 성장한 말레이시아를 필두로 태국과 대만, 싱가포르 등. 신규 진출 국가에서도 빠르게 사업 기반을 구축 중입니다. We are also generating meaningful results in subscription and direct online sales, both qualitative business stemming from innovations in our original business models. The fast transition to subscriptions across our products and channels in Korea has delivered, as of third quarter this year, sales growth at high 20% YOY and an account growth of mid-10% YOY.

Starting with Malaysia, which recorded as of third quarter this year more than 50% sales growth YOY, we are fast expanding our footprints further to Thailand, Taiwan, and Singapore. 이 밖에도 난 하드웨어 영역의 대표 사업인 외부 S 플랫폼 사업의 경우에도. 누적 2억 6천만 대에 이르는 자체 스마트 TV 모수에 더해서 1천만 대 이상의 파트너사 스마트 TV에 외부 S 플랫폼을 탑재하면서. 사업 기반과 생태계를 확장하였고, 기존 북미 지역 중심의 사업을 유럽과 아시아 등 타 지역으로 빠르게 확산시키면서 서비스와 콘텐츠 구성을 강화하여 매출 성장을 가속화하고. 수익성 기여 또한 더욱 확대해 나갈 것입니다. For non-hardware, our webOS runs not only in 260 million of our own smart TVs but is available in more than 10 million of our partner smart TVs, demonstrating the growth of our platform base and overall ecosystem.

Fast extending our footprints from North America to encompass other regions such as Europe and Asia, we will drive the momentum of our sales growth with a better selection of content and services while scaling the contribution of our profitability. 이처럼 당사의 지속 가능한 질적 성장을 위한 노력은 단순한 구호가 아닌 매우 실질적인 성과를 축적해 나가고 있고요. 향후에도 회사의 역량을 집중하여 지속 가능한 사업 성장의 핵심 동력으로 자리매김하도록 만들어 나가겠습니다. 이상입니다. Our commitment to seek sustainable qualitative growth are not just empty words but one bearing tangible outcomes, and we will continue to focus our resources where needed to well position these business areas in fueling our future growth. Thank you. 다음은 로봇 사업 관련해서 HS 본부에서 답변 드리겠습니다. 최근 중국과 미국을 중심으로 휴머노이드 관련 기술이 비약적으로 발전하고 있습니다.

중국에서는 가격 경쟁력을 앞세운 휴머노이드 하드웨어 업체들이 연일 소개되고 있으며, 미국에서는 빅테크 업체를 중심으로 다양하고 정밀한 움직임 구동을 위한 RFM 기술 확보에 집중하고 있습니다. Your question about robotics business will be covered by HS. Recently, humanoid-related technologies have been making rapid advances, particularly in China and the U.S. In China, hardware companies offering humanoids with strong price competitiveness are being introduced, while in the U.S., major big tech players are focusing on securing RFM technologies that can enable diverse and precise motion control. 이러한 휴머노이드 관련 기술 발전 흐름에 맞추어 당사는 가사 노동을 획기적으로 절감할 수 있는 솔루션을 검토하여 관련 기술 연구에 집중하고 있습니다. 빠른 기술력 확보를 위해 외부 업체와의 적극적인 협력을 진행 중이며, 주요 빅테크 업체와도 휴머노이드 사업 협력 가능성에 대하여 논의.

Speaker 1: 이 과정에서 당사 기술 확보 및 사업화에 도움이 되는 업체가 있다면 투자 가능성까지도 열어놓고 적극 검토하고 있습니다.

Won-Jae Park, Investor Relations, LG Electronics: In line with these developments, we’re exploring solutions that can dramatically reduce household labor and are concentrating our efforts on related technology research. To accelerate our capabilities, we’re actively collaborating with external partners and discussing potential cooperation in the humanoid business with leading big tech companies. We are even open to actively considering investment opportunities in case there are partners that can help us secure technology and commercialize our solutions.

Speaker 1: currently exist, we are prioritizing the advancement and stabilization of robotics functions through various attempts in structured environments and scenario areas. In line with this direction, we are continuously exploring and preparing opportunities to respond accordingly, and we believe we will be able to share related news with you soon. That is all.

Won-Jae Park, Investor Relations, LG Electronics: Ultimately, our goal is to expand our business in the home domain. However, given the many variables in this area, we’re prioritizing the enhancement and stabilization of robot functions through trials in more structured environments and scenarios before entering the home market directly. We continue to seek and prepare for opportunities that align with this direction, and we expect to share related updates with you in the near future. Thank you.

Speaker 1: Next question, please.

Won-Jae Park, Investor Relations, LG Electronics: Next question, please.

Speaker 3: 다음으로 질문해 주실 분은 노무라 금융투자의 황호연 님입니다.

The following question will be presented by Ellian Huang from Nomura Financial Investment. Please go ahead with your question.

네, 질문 기회 주셔서 감사합니다. 오늘 언론에 따르면 NVIDIA가 LG Electronics와 협업한다는 내용이 나왔는데요, 이것 관련해 구체적으로 설명해 주시면 감사하겠습니다.

Won-Jae Park, Investor Relations, LG Electronics: Thank you for the opportunity. According to Press Today, I’ve heard that there will be collaboration underway between NVIDIA and LG Electronics. Could you provide the details? Thank you.

Speaker 1: 네, 여러 업체들이 지금 NVIDIA하고 협업을 하려고 노력 중인 걸로 알고 있는데요, LG전자도 마찬가지입니다. 다양한 NVIDIA의 AI 플랫폼 생태계에 합류를 해서 로보틱스 기술을 고도화하겠다라고 하는 계획을 가지고 있고요. 저희는 NVIDIA가 선보인 범용 휴머노이드 추론 모델인 아이작 그로우트를 기반으로 자체 피지컬 모델을 개발하고 있습니다.

Won-Jae Park, Investor Relations, LG Electronics: Yes, I understand that there are many companies that would seek collaboration with NVIDIA, and LG Electronics is one of them. If I could elaborate in detail, leveraging the diverse AI platforms delivered by NVIDIA, we’re pushing the momentum and raising our prowess in robotics. We are developing preparatory physical AI models, drawing on NVIDIA’s humanoid reasoning model, I-kueon.

Speaker 1: We plan to continuously strengthen research collaboration on the generation of training data and reinforcement learning-based robot learning models. The data that LG Electronics is accumulating across various spaces such as home appliances, vehicle component solutions, business solutions, and commercial businesses is enormous. We believe this can be utilized as training data for the advancement of physical AI.

Won-Jae Park, Investor Relations, LG Electronics: Both companies understand that physical AI is at the center of ensuring high-quality data as well as a diverse training environment, and we intend on enhancing the cooperation on generating training data as well as the training of reinforced learning robots. The data that we are accumulating across various areas from the home, automotive electronics, industry, and the commercial area will be leveraged to build on our data for physical AI.

Speaker 1: 또. LG전자가 AI 데이터 센터 냉각 솔루션 분야에서 굉장히 열심히 하고 있다는 것들 알고 계실 텐데요, 거기에서도 저희는 시너지 효과를 좀 기대를 하고 있습니다. 냉각수를 순환시켜서 AI 데이터 센터의 발열을 관리하는 액체 냉각 방식의 핵심 장치인 CDU, 냉각수. 분배 장치 공급을 위해서 NVIDIA 인증을 지금 추진 중에 있습니다.

Won-Jae Park, Investor Relations, LG Electronics: You’ve also heard of our chiller as well. Our cooperation can also reap synergy in our data center solutions, our future growth engine. Our CDU, a core technology in liquid immersive cooling, is currently being verified by NVIDIA.

Speaker 1: is currently leading the AI industry. Based on the strategic partnership with NVIDIA, we expect that LG Electronics will be able to accelerate future technology innovation.

Won-Jae Park, Investor Relations, LG Electronics: We understand that currently NVIDIA is a leader in AI business, and we believe that with a strategic partnership underway, we at LG Electronics will also be able to lead the innovations in future technology and future growth. Thank you.

Speaker 1: Next question, please.

Won-Jae Park, Investor Relations, LG Electronics: Next question, please.

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Speaker 1: 시간이 좀 많이 된 것 같습니다. 이제 마무리하면 될 것 같은데요. 그럼 이상으로 3분기 LG전자 실적 발표 컨퍼런스 콜을 마치겠습니다. 오늘 질문을 많이 주셨는데요, 이 시간 이후로 추가적인 질문이 있으시면 LG전자 IR팀으로 연락 주시면 자세한 설명을 드리겠습니다. 사실 저희 이제 올해 LG전자가 여러 가지 환경으로 인해서 어려움을 좀 많이 겪었습니다. 저희가 희망 퇴직도 지금 이제 하반기 진행한다라고 이제 말씀을 좀 드렸는데요, 저희가 이제 내년에는 조금 더 다른 모습으로 보일 수 있도록 내부적으로 열심히 지금 활동 중에 있으니까요, 내년 좀 응원해 주실 수 있도록 조금 이제 해 주시면 더욱 감사드리겠습니다. 이상입니다.

Won-Jae Park, Investor Relations, LG Electronics: I think we are out of time at the moment, so this brings to the end of the earnings call for our third quarter’s performance. I think there were a lot of questions asked today. If you look at our performance for this year, I believe that there were many difficulties considering the uncertainties in the environment, including the voluntary buyouts that we have currently offered. Be rest assured that starting next year, we will be committed to delivering our goals and our targets, so we will appreciate it if you could support us throughout our journey. Thank you.

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