[Alpha Biz=(Chicago) Reporter Paul Lee] Moon Hyuk-soo (photo), the new CEO of LG Innotek, stressed that he will aggressively pursue securing global customers around the Mexican plant. "The existing Mexican plant is about 3,000 pyeong, but we bought 30,000 pyeong of land last year. It was confirmed last fall and we are now designing and building a building," CEO Moon told reporters at CES 2024 in Las Vegas on the 10th (local time). It is expected that mass production will start early next year.

LG Innotek established an electric component factory in San Juan del Rio, Mexico in 2013 and produces vehicle camera modules, motors and sensors. This is interpreted as an increase in volume due to securing new customers. LG Innotek announced last month that it is supplying camera modules to North American automakers and has virtually formalized its order.

In addition, Moon said, "This year will be a more difficult time than last year," adding, "The entire market is very difficult, but it will lead to sustainable growth in this situation."

"If the company has been focused on mobile, it will now do semiconductors after autonomous driving," CEO Moon said. "When asked how to do this, they will do it through AI." After the battlefield and semiconductor substrates, it has opened up the possibility of targeting new markets such as expansion reality (XR) and urban air transportation (UAM).

In particular, it is also considering growth through external cooperation in its flagship new semiconductor substrate business. It is expected to consider options such as joint ventures (JV) and mergers and acquisitions (M & A).

 

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