Global ICT firm LG's eye on energy industry

With the rise of smart energy technologies ranging from smart bulbs to smart grids, nontraditional energy companies, especially from the information communication and technology sector, are increasingly turning their attention toward the energy market.

Global ICT firm LG's eye on energy industry
Among those trying to gain a foothold in the energy market is LG Corp., which has a range of businesses including home appliances and electronics parts under its wing.

The conglomerate’s electronics, battery and chemical business affiliates showed off their prowess in the energy sector by introducing an array of energy-related products and solutions, including the world’s most energy-efficient solar panels and energy storage systems at the Conference of Electric Power Supply Industry 2014. 

The conference, a biannual international energy industry conference, was held from Monday through Wednesday on Jejudo Island.

Also on display at the conference was IT solutions developer LG CNS’ voltage management systems, which monitor the use of electricity in homes or offices and provide data analyzes to users to help them save power.

“The smart energy solution business is becoming one of LG’s most important future growth engines,” said an official from LG.

“LG affiliates will make concerted efforts to take a global lead in the rising energy technology market.’’

Internet giant Google has also been pouring resources into energy projects and attempting to acquire firms specializing in energy technology. 

Source: The Korea Herald
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