LG Innotek ups automotive electronics patents for future mobility

South Korea’s electronics parts maker LG Innotek Co. actively increased patents related to its new growth driver automotive electronics while securing standard-essential patents to speed up its expansion in the future mobility industry.

LG Innotek said on Wednesday the company has applied for patents on about 3,500 automotive electronics components for the last five years as it works to foster the business as a future growth engine. The company’s copyrights on automotive electronics made up about 40% of its total patents.

The unit of South Korea’s fourth-largest conglomerate LG Group focused on future automobile sectors such as light detection and ranging (LiDAR), automotive cameras, lights and communication modules for self-driving vehicles.

“We aim to take the lead in technology and patents to secure an advantageous position in the global automotive electronics market,” said LG Innotek Chief Technology Officer S. David Roh in a statement.

The major camera module supplier for Apple iPhones has been expanding its presence in the automotive electronics industry. It is upping the ante to lead the automotive sensing market with an aim to generate 2 trillion won ($1.5 billion) in annual sales by 2030, for example.

STANDARD-ESSENTIAL PATENTS

LG Innotek aggressively increased standard-essential patents, which protect inventions essential to the implementation of particular technology standards.

The company has recently registered five international standard-essential patents on the electric vehicle communication controller (EVCC), a device on a rechargeable EV that communicates with the charging pile.

The EVCC supports communication between the EV and a charger for the exchange of information including charging voltage, current and remaining battery capacity.

LG Innotek secured three international standard-essential patents on the EVCC last year.

Those patents are expected to allow LG Innotek to raise its shares in the global EV communication and charging control markets and collect royalties as companies with such intellectual properties can maintain their technology leads, broaden their market dominance and make money.

Only eight companies worldwide, among them General Electric Co. and Siemens AG, hold international standard-essential patents related to the EV charging sector.

LG Innotek is actively working to obtain standard-essential patents on its core future auto parts such as LiDAR systems.

“LG Innotek’s automotive electronics technology is rapidly expanding its global influence by enhancing patent competitiveness and securing standard-essential patents,” Roh said.

Write to Eui-Myung Park at uimyung@hankyung.com
 
Jongwoo Cheon edited this article.