LG Innotek seeks to top global UV LED market

LG Innotek CEO Park Jong-seok speaks during a press conference at its headquarters in Seoul, Tuesday. / Courtesy of LG Innotek

By Kang Seung-woo

LG Innotek has set its sights on becoming the global leading player in the ultraviolet light-emitting diode (UV LED) industry, its chief said, Tuesday.

“LG Innotek is the most competitive company in the UV LED sector, so we aim to become the No. 1 player,” CEO Park Jong-seok said in a press conference at its headquarters in Seoul.

“Already securing leadership in the technology, the company plans to accelerate its efforts to lead the global UV LED market.”

The UV LED is an advanced semiconductor light source that emits ultraviolet light with a short wavelength of 200 to 400 nanometers. It eliminates germs and viruses and chemically reacts with special substances to be used for surface, water, and air disinfection, healthcare, medical care, biotechnology, and curing and exposure equipment.

It is also harmless to the human body since it uses only ultraviolet rays for sterilization without any chemicals or heavy metals. Unlike conventional mercury UV lamps, it is safe from breaking.

In the global UV LED industry, Japan’s Nichia is the No. 1 player in market share, followed by LG Innotek and Seoul Viosys, according to industry tracker LED Inside.

In 2016, the Seoul-based company ranked fourth in the same standings.

LG Innotek developed 100 milliwatt (mW) UV-C last November, two years earlier than expected. The product is a powerful UV LED that sterilizes the surface of objects and even flowing water and air.

The CEO plans to take advantage of the development of such high value-added products as a springboard for its struggling LED business to operate in the black.

“The best way to turn the LED business around is supplying products that meet customers’ needs,” Park said.

Whether the company will become a leading player boils down to how much UV LED demand it will see.

Despite its advanced technology, less demand would lead the company to be a cash-sucking entity.

To avoid this, LG intends to beef up an ecosystem for the industry in cooperation with partners and clients to actively explore new products using UV LED, according to the CEO.

“We are willing to offer a ‘total business solution’ to help partners struggling to do business due to the lack of skills and manpower,” Park said.

The total solution means giving assistance to them such as appraisal and certification, global public relations and ability enhancement.

“It is not easy for LG Innotek to raise the UV LED market by itself, so we are exploring measures to expand it in cooperation with partners, mid- and small-sized firms and ventures,” said Song June-o, head of the company’s LED business unit.

According to French-based research firm Yole Development, the global UV LED market will grow from $151 million in 2016 to $1.12 billion by 2021.