LG Aims to Generate First Space Revenue by 2030

LG Group has set a goal to achieve tangible results and revenue in the space industry by 2030, consolidating group capabilities to secure future growth. The company is advancing its space initiatives through LG Science Park, which coordinates cross-division collaboration to maximize synergy. Key subsidiaries such as LG Electronics, LG Chem, LG Energy Solution, and LG Innotek are pooling their core technologies. LG plans to establish specialized teams for space-advanced technologies, signaling a structured approach to the sector. The decision follows slowing growth in its core appliances and chemical sectors, with a strategic need to find sustainable growth opportunities. The space industry offers diverse opportunities, including satellite communications, space data centers, edge computing satellites, and lunar exploration. Unique challenges like extreme environments necessitate specialized materials and rigorous testing, positioning LG to leverage its existing expertise in consumer electronics, chemicals, and communications. Battery technology is a key focus, as safety-critical space batteries prioritize quality over cost. LG Energy Solution is already discussing partnerships with global space companies like SpaceX. The company is progressing through field verification, having tested components in real space environments and planning to expand testing in upcoming launches. LG aims to lead in the space sector by extending its terrestrial technological advancements.