LG Innotek (CEO: Ung Beom Lee) expends its market share for LED Lighting modules businesses for the global market.

The company has announced that it will target the advanced markets such as Europe, North America and Japan based on its competitiveness in the LED lighting industry obtained through continuous R&D and investment efforts.

It intends to become an LED market leader by expanding the light module business in the global LED market where competition is fierce.

LG Innotek has seen a six-fold growth in its LED light sales over the past two years. The ratio of its lighting sales in the LED division is 26% as of Q3 and will exceed 30% in Q4.

LG Innotek plans to offer price competitive prices, which comes from the economy of scale, to target the global market. 

Given that price is the most important element in expanding the LED lighting market, price competition is expected to be more intense in 2014. Many countries will begin to encourage the use of LED lights while restricting the use of incandescent bulb, resulting in companies competing for control of the market.

LG Innotek has completely vertical integration for its LED light module from light sources such as LED chips. It has packaged and semi-finished products, such as the module, and has been equipped with the mass production capabilities. Its light module production capacity is 4 million sets per month.

The company can make improvements in terms of production time, cost, and customer responses by applying its own high-performance LED packages to the light modules.

In 2010, LG Innotek built the world’s largest LED factory and R&D center in Paju, Gyeonggi Province. They are the core bases for LED light modules and next-generation LED developments.

In addition, LG Innotek will combine its leading electronic components with LED light source technologies to expand the light module lineups.