SEOUL, South Korea, April 3, 2026 /PRNewswire/ -- Kwang Mo Koo, Chairman and CEO of LG Corp., recently visited the United States to review the Group's future growth strategies, focusing on energy infrastructure as a backbone of the AI era.
The visit reflects Chairman Koo's commitment to securing a proactive lead in the Energy Storage System (ESS) market, which has emerged as a critical infrastructure component due to the rapid growth of AI industries. During his tour, Koo called for the pre-emptive acquisition of market leadership in energy infrastructure to keep pace with the surge of AI data centers and physical AI.
On March 30, Chairman Koo visited LG Energy Solution Vertech, a subsidiary specializing in ESS System Integration located in Westborough, Massachusetts.
"We must establish a resilient business foundation that remains unshaken by any external environment," Koo stated during the visit. "Beyond simply supplying ESS battery hardware, we must enhance our integrated solution capabilities to provide high value-add to our customers, securing an overwhelming position to lead the market."
His remarks underscore that as demand for batteries skyrockets—driven by AI data centers and physical AI—the ability to combine hardware with software-driven integrated solutions will become a core competitive advantage.
LG aims to achieve qualitative growth in the battery business by pairing its world-class manufacturing competitiveness with software-based operation and management expertise, specifically targeting the energy infrastructure market of the AI era.
The ESS market is experiencing explosive growth due to the expansion of AI data centers, industrial electrification, and the transition to renewable energy. In high-performance computing environments like AI data centers, ESS has evolved beyond simple storage to become a vital infrastructure for power load optimization and supply stability.
According to energy market research firms, the global ESS market is projected to grow nearly 2.5 times, from approximately 300GWh last year to 750GWh by 2030.
LG is responding proactively to these market shifts. LG Energy Solution has introduced Lithium Iron Phosphate (LFP) batteries at the opportune time, aligning with their emergence as the global mainstream for ESS. Furthermore, the company is converting five of its North American production bases into ESS-dedicated lines to meet surging local demand. Currently, LG Energy Solution is the only company producing and supplying ESS batteries in North America.
The synergy with Vertech is also being strengthened. Vertech possesses comprehensive SI capabilities, including ESS design, installation, maintenance, and software-based operational management. This allows LG to provide a "one-stop shop" for customers, covering everything from battery supply to installation and long-term technical support.
About LG
LG is a technology innovator and global leader in consumer electronics, advanced materials, and automotive components. Founded in 1947, LG was a driving force behind South Korea's modernization. The company produced South Korea's first radio and television sets and today is a global leader in organic light-emitting displays (OLED), electric car batteries, and advanced industrial plastics. The LG group of companies operates in more than 60 countries that together generate USD 140 billion in annual revenue. LG Corporation (LG Corp.) is the holding company for industry-leading LG subsidiaries, such as LG Electronics, LG Display, LG Energy Solution, LG Chem, to name a few. For more information about the LG group of companies, visit lgcorp.com.
** This press release is distributed by PR Newswire through automated distribution system, for which the client assumes full responsibility. **
LG Chairman Kwang Mo Koo Visits U.S. ESS Hub 'Vertech,' Emphasizing Leadership in AI-Era Energy Infrastructure
LG Chairman Kwang Mo Koo Visits U.S. ESS Hub 'Vertech,' Emphasizing Leadership in AI-Era Energy Infrastructure
SEOUL, South Korea, April 3, 2026 /PRNewswire/ -- Upbit, a world-class digital asset exchange operated by Dunamu Inc., today announced that it has signed a Memorandum of Understanding (MOU) with Indonesia Crypto Exchange (ICEx), a licensed digital asset bourse in Indonesia. The MOU establishes a strategic framework for technical and operational collaboration aimed at accelerating the development of Indonesia's regulated crypto ecosystem and supporting the growth of a sustainable, well-governed market.
The partnership was marked by a high-level summit held at Upbit's Seoul headquarters, where CEO Kyoungsuk Oh hosted a senior Indonesian delegation comprising high-ranking government officials, representatives from the Chamber of Commerce Indonesia, and key industry players to discuss the evolution of regulated digital finance.
The inclusion of the Chamber of Commerce underscores the mission to integrate it into the broader Indonesian commercial landscape. During the meetings, Upbit's leadership and Kadin representatives discussed future-forward plans to bridge Korean technological prowess with Indonesian market potential, ensuring that the digital asset roadmap aligns with the country's national economic interests and private sector growth.
Building a Regulated Global Standard
Under this strategic framework, Upbit will support the growth of Indonesia's digital asset ecosystem by providing core platform technology and operational expertise to build and operate a resilient, compliant trading venue, including key exchange infrastructure such as matching, risk management, and market operations.
The partnership will also explore innovation in areas such as custody solutions while strengthening regulatory technology to enhance oversight, compliance, and reporting.
ICEx and Upbit have aligned as strategic partners to leverage Upbit's proven track record as South Korea's leading exchange and its global reputation for maintaining the highest standards in investor protection and regulatory compliance.
Expanding Upbit's Regional Footprint
Upbit is positioning itself as a critical infrastructure partner across Asia, supporting the development of secure, transparent, and trusted digital asset market frameworks.
This collaboration marks another milestone in Upbit's expanding role as a key driver of digital asset development across the region. The company has previously hosted high-level delegations from Vietnam—including senior government and financial leaders such as the Minister of National Defense, Minister of Finance, Chairperson of the State Securities Commission, and the Chairman of Military Bank—to showcase its advanced digital asset exchange infrastructure.
"This partnership reflects our commitment to fostering well-regulated digital asset ecosystems globally," said Kyoungsuk Oh, CEO of Dunamu, operator of Upbit. "By working closely with ICEx, we aim to share the platform technology and operational expertise that have established Upbit as a market leader in Asia and strengthen the foundational infrastructure of Indonesia's digital asset sector."
A New Era for Indonesian Digital Finance
ICEx operates as an important part of Indonesia's regulated digital asset ecosystem under the supervision of the Financial Services Authority (OJK). Established in line with Indonesia's three-layer regulatory framework for digital asset transactions, comprising a licensed bourse, central clearinghouse, and supporting an integrated market structure within the country's regulated framework. Upbit Indonesia is among its founding shareholders, alongside strategic investors including some of Indonesia's largest conglomerates and global exchanges.
"Partnering with Upbit brings invaluable global expertise to our local ecosystem," said Pang Xue Kai, CEO of ICEx Group. "Upbit's leadership in compliance and technology was a decisive factor for us. We believe this collaboration will contribute to the development of a more secure and trusted market environment in Indonesia."
Through this partnership, Upbit aims to support ICEx in laying the groundwork for a next-generation digital asset ecosystem in Indonesia while contributing to the broader evolution of regulated crypto markets across the region.
The parties formally announced the MOU at the Korea–Indonesia Business Partnership for Resilient Growth Forum on April 1st, 2026, a landmark bilateral event, attended by ministers and high-ranking officials from both countries. The forum featured the signing of MOUs by major companies from both countries across a range of sectors. The MOU between Upbit and ICEx underscored the strategic and institutional significance of the bilateral collaboration in digital finance innovation.
About Upbit
Upbit is a leading digital asset exchange headquartered in South Korea and operated by Dunamu Inc., a fintech company focused on building innovative financial services powered by blockchain technology. Since its launch in 2017, Upbit has become one of the largest cryptocurrency exchanges globally by trading volume, offering a wide range of digital assets and trading pairs.
Upbit provides a secure and user-friendly platform for trading, investing, and managing digital assets. The company prioritizes transparency, compliance, and investor protection, adopting industry-leading security practices.
Through continuous innovation and strategic partnerships, Upbit aims to drive the adoption of blockchain technology and contribute to a more accessible and efficient financial ecosystem.
** This press release is distributed by PR Newswire through automated distribution system, for which the client assumes full responsibility. **
Upbit and ICEx Sign Strategic MOU to Fortify Indonesia's Digital Asset Infrastructure
