Four LG Electronics in-house ventures will spin off as business-to-business (B2B) startups. LG Electronics plans to provide initial investment as well as research and development (R&D) and commercialization support to these companies, which operate in artificial intelligence (AI), robotics, and advanced materials.

LG Electronics announced on the 27th that it held a demo day for its in-house venture incubation program “Studio 341” at Magok Science Park in Gangseo-gu, Seoul, and unveiled the four teams that obtained final spin-off qualification. These companies are scheduled to complete the spin-off process in July. The selected teams are Seca, Machine Flow, Free Kitchen Lab, and Atomer.

Seca provides an AI solution that automatically detects conflicts and omissions in hardware design documents, which are difficult for humans to identify, thereby reducing development delays and additional costs. Machine Flow reflects company-specific development rules and visualizes the process by which AI-generated code is created, making it easier to review, and manages it consistently to eliminate quality gaps. Free Kitchen Lab offers a kitchen robot operation management solution that connects multiple kitchen robots to eliminate gaps in the cooking process. Atomer supports the rapid launch of functional materials to market by adopting a “fabless” model that reduces the burden of mass-production facility investment and allows companies to focus solely on materials design.

These teams applied through an internal open call in July last year and advanced to the finals after passing a competition with a ratio of about 12:1. After reaching the finals, they received incubation support from LG Electronics and external mentors, going through technology validation and business feasibility enhancement processes. For the final evaluation, LG Electronics working-level staff, startup incubation specialists, and venture capital representatives participated and comprehensively assessed technology suitability, business model, team capabilities, and marketability.

Based on the evaluation results, each team will receive up to KRW 400 million in initial investment as well as R&D and commercialization support. In addition, LG Electronics will run follow-up support programs such as providing pilot (field test) opportunities within the company, technology patent consulting, and sales channel linkage to help reduce early spin-off risks.

Studio 341 was launched in 2023 to carry on the entrepreneurial spirit of Goldstar, the predecessor of LG Electronics. Startups that spun off last year have reportedly grown rapidly by securing government support and investment. Kang Sung-jin, Head of Partnerships at LG Electronics, said, “LG Electronics will spare no effort in supporting the spun-off companies so that they can grow into strong partners for LG Electronics.”

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