LG Innotek becomes first to develop high-performance green magnet

(LG Innotek)

LG Innotek Co., an electronics parts manufacturer under South Korea’s LG Group, announced on Wednesday that it has successfully developed a high-performance eco-friendly magnet without heavy rare earth elements.

Magnets are essential components in various products requiring movement, such as smartphone actuators, vehicle motors, and audio speakers.

Heavy rare earth elements are a key ingredient in magnets and have been used to maintain magnetism at high temperatures.

However, these elements pose risks, such as price volatility and supply instability as they are produced only in specific countries such as China.

They also cause severe environmental pollution from the mining process.

To develop a magnet that entirely eliminates expensive heavy rare earth elements such as terbium and dysprosium, LG Innotek collaborated with the Korea Institute of Materials Science to develop a multi-element alloy material, the first of its kind in the industry, as a replacement for heavy rare earths.

It applied the alloy evenly to the magnet and heat-treated it to ensure uniform absorption, according to the company.

LG Innotek’s high-performance eco-friendly magnet boasts an industry-leading magnetic performance of 13.8 kilogauss (kG) and can withstand temperatures up to 180 degrees Celsius.

This innovation is expected to stabilize magnet supply chains by reducing dependence on specific countries for heavy rare earths, while cutting raw material costs to 60 percent of previous levels.

LG Innotek said that replacing existing magnets in electric vehicles with these high-performance eco-friendly magnets could reduce pollutants by about 45 kilograms per vehicle.

LG Innotek plans to apply the magnet to its products, such as smartphone actuators, to enhance product cost competitiveness. Application will be extended to appliances and robotics in the future.

“We are currently developing a magnet entirely free of rare earth elements, including light rare earths,” said LG Innotek Chief Technology Officer Noh Seung-won. “We will continue to introduce innovative materials and components ahead of the curve to create differentiated customer value.”