7 LG In-house Ventures Challenge Independent Startups, Targeting 5-Month Spinoff

## LG Electronics Fully Operates In-house Venture 'Studio 341' Season 2… Securing Future Growth Engines with Innovation DNA LG Electronics announced that it has launched Season 2 of 'Studio 341,' an in-house venture incubation program, to secure innovative future growth engines. The 7 finally selected teams have entered the full-scale accelerating phase with the goal of spinning off in April next year. This demonstrates LG Electronics' strong commitment to commercializing creative ideas from its internal talent and ultimately growing them into independent entities to build a new business ecosystem. The Successful Launch of ‘Studio 341’: Confirming Season 1's Achievements and Potential 'Studio 341' is a program that fully supports LG Electronics' internal talents in discovering new business ideas, validating them in the market, and growing them into independent entities. Bluepoint Partners, which boasts unrivaled expertise in the startup accelerator field, is in charge of operating the program, providing systematic support without reservation to help participating teams grow in a real startup environment. The achievements of Season 1, which has already taken successful first steps, clearly demonstrated the potential of the 'Studio 341' program. Five out of the six finally selected teams successfully spun off, and these teams are currently not only recording steady revenue growth but also actively attracting external investment and pursuing various business partnerships, thereby strengthening their competitiveness as startups. This clearly shows that LG Electronics' internal talents have infinite potential as 'entrepreneurs,' and at the same time, demonstrates how powerful the synergy can be when the robust infrastructure of a large corporation is combined with the expertise of a startup accelerator. Choi Won-ki, a Senior Reviewer at Bluepoint Partners, emphasized, "Through Season 1, we confirmed the strong possibility that LG Electronics' internal talent can grow into 'entrepreneurs'," adding that the excellent capabilities of LG Electronics and Bluepoint's company-building expertise will create new growth engines. Season 2's Innovative Redesign for 'Faster Market Validation' Based on the success of Season 1, Season 2 has been reborn in a more evolved form. The core goal of this Season 2 is 'faster market validation.' To this end, the entire program has been newly designed, significantly improving the participating teams' commercialization speed and market suitability. In fact, during the program's progression, approximately 70% of all teams boldly pivoted their business direction, successfully building business models that meet actual market demands. This demonstrates that LG Electronics' internal talents are acquiring the core competencies of startups, which involve sensitively responding to market changes and flexibly adjusting business strategies. At the heart of these innovative changes is Bluepoint Partners' unique 'company-building model.' Based on its accumulated know-how from discovering and supporting numerous early-stage startups, Bluepoint Partners designed the entire process, leading from 'problem validation - pivoting - PMF (Product-Market Fit) acquisition,' as a practical, real-world model. This focuses not just on conceiving ideas but on building and validating business models that can actually be adopted in the market. In other words, by providing experiences similar to a real startup environment rather than a theoretical approach, it is fostering the practical growth of participating teams. Systematic Support System: Dedicated Reviewer Assignment and One-Stop Spin-off Support Bluepoint Partners operates a highly systematic and close-knit support system for the successful commercialization of participating teams. Each team is assigned a dedicated reviewer who provides various forms of support, including in-depth mentoring. This means that beyond mere financial assistance, teams receive expert guidance on essential elements for startup growth, such as business model advancement, market strategy formulation, and team building. Furthermore, by connecting experts to bolster expertise in specific areas and offering opportunities for collaboration with external startups, the program helps participating teams develop business ideas from diverse perspectives and expand their actual business networks. The approximately 5-month incubation program will run until March next year, with the highly anticipated Demo Day in April to select the final spin-off teams. The finally selected spin-off teams will receive investment totaling 400 million KRW, with LG Electronics and Bluepoint Partners each contributing up to 200 million KRW. This is crucial seed funding for early-stage startups, forming the foundation for a stable business launch. Furthermore, the one-stop support system, which provides everything from new entity establishment to subsequent growth support, is expected to serve as a strong backbone, enabling spin-off teams to stably settle as independent entities and continue their sustainable growth. LG Electronics' 'Studio 341' program is more than just operating an in-house venture system; it is becoming a powerful growth engine that maximizes the potential of internal talents and leads innovative ideas to real business success. This unique cooperative model, combining the stable infrastructure of a large corporation with the expertise of a startup accelerator, is expected to play a crucial role in securing LG Electronics' future growth engines and also to usher in a new wave of innovation across the entire domestic corporate culture. Attention is drawn to what kind of future LG Electronics will envision through 'Studio 341'.