Lee Seok-woo, Head of LG NOVA Center, "Next-generation Unicorn Companies Will Emerge from LG Electronics' NOVA"

CES 2025 Press Conference on the 7th
"Prepping Prospective Global Startups for Launch"
Including Pilot Project in West Virginia, USA

Lee Seok-woo, head of LG Electronics' North America Innovation Center (LG NOVA), the Silicon Valley forward base that discovers new business models for LG Electronics, confidently stated at CES 2025, the world's largest electronics and IT exhibition, that LG Electronics will create the next-generation unicorn (a private company valued at over $1 billion). This declaration follows the launch of the independent healthcare corporation 'Prime Focus Health' in the U.S. last May, signaling the creation of the next-generation unicorn business.

Seokwoo Lee, Vice President and Head of LG Electronics North America Innovation (LG NOVA) Center. Provided by LG Electronics

On the 7th (local time), Lee Seok-woo, Vice President and head of LG NOVA, met with the press at the LG NOVA exhibition hall set up in Eureka Park, Las Vegas, and said, "Preliminary global startups succeeding Prime Focus Health are preparing to launch," adding, "LG Electronics' next-generation unicorn business will emerge from here."

LG NOVA is developing business models in collaboration with healthcare startups selected through the global startup contest 'Challenges for the Future.' Currently, LG NOVA is conducting initial market entry (GTM) in West Virginia, USA, where it has a strategic partnership, and is preparing to pilot a project with the Marshall Health Network. The Marshall Health Network is a medical chain providing healthcare services to approximately 1.5 million residents in West Virginia and neighboring southern Ohio and eastern Kentucky.

At this CES, LG NOVA will unveil an AI-based Software as a Service (SaaS) platform. It plans to showcase remote medical innovations using tablet PCs as a link between medical staff and patients. LG NOVA's new project, Relief AI, which will be unveiled for the first time at this year's CES, is also ready to launch. Relief AI is a platform that monitors and tracks users' psychological states using advanced AI-based diagnostic technology.

Following health tech, LG NOVA plans to accelerate new businesses by collaborating with startups discovered through contests in future industry sectors such as clean tech and artificial intelligence (AI). The goal is to continuously spin out new startups and ultimately nurture them into 'Novacons' (unicorn companies originating from LG NOVA). Spin-out refers to establishing a new corporation based on technologies or products developed within an existing company. LG NOVA intends to continue nurturing independent corporations like Prime Focus Health within its new business incubation organization.

Established at the end of 2020, LG NOVA discovers and fosters innovative startups annually through the 'Challenges for the Future' contest and promotes the development and commercialization of LG Electronics' new businesses. Based on the 3B strategy (Build, Buy, Borrow), LG NOVA engages with innovative companies in global big tech battlegrounds to attract talent and technology, thereby strengthening future growth engines.

Vice President Lee said, "The unique new business development program established from the early days of LG NOVA is now fully operational, and LG NOVA's vision is becoming concrete one by one," adding, "We will create new innovations and businesses that help the world for everyone's better life."