Samsung and LG in, Hyundai out at IAA Mobility

Samsung Electronics and LG Electronics will replace Hyundai Motor at the upcoming IAA Mobility in Munich, Germany as the two companies bank on their auto businesses to lead future growth.

LG Electronics is scheduled to hold a press conference on Sept. 4 ahead of the IAA Mobility 2023 which the company is participating for the first time. [LG ELECTRONICS]

Samsung Electronics and LG Electronics will replace Hyundai Motor at the upcoming IAA Mobility in Munich, Germany as the two companies bank on their auto businesses to lead future growth.

It is the two Korean companies' first time participating in the auto event, better known as the Frankfurt Motor Show.

Hyundai Motor, on the other hand, is skipping this year's global auto event for the first time in 20 years.

Samsung Electronics' Device Solution division, in charge of the Korean tech firm's semiconductor business, will set up a booth at the IAA Mobility, which begins in the German city on Sept. 5.

Its booth plans to "showcase how Samsung Electronics is revolutionizing the automotive industry through innovative technology, by offering reliable solutions and fostering a collaborative ecosystem."

Its panel-making affiliate Samsung Display and battery-making affiliate Samsung SDI are participating as well. Samsung Display is growing its presence in OLED (organic light-emitting diode) panels for in-car infotainment systems.

LG Electronics, as the event's sponsor, is not setting up a booth, but is holding a press conference ahead of the official launch of the event.

"Presenting at the IAA Mobility for the first time, LG will provide its vision of the in-vehicle experiences of the future and illustrate the highly advanced mobility ecosystem the company proposes to its partners and customers," it said.

LG Electronics looks to have its vehicle component business as the main pillar of the company's sales in the future.

After turning to profit last year, LG Electronics' vehicle component business' order backlog is slated to hit 100 trillion won ($76.6 billion) by the end of this year, according to the company.

Hyundai Motor is likely to participate in the Consumer Electronics Show next year in Las Vegas as the Korean automaker has been attending the electronics show biannually. It didn't show up at this year's edition.

BY JIN EUN-SOO [jin.eunsoo@joongang.co.kr]