This type of magnet will be used for car engines, smartphone cameras, speakers, generators that rely on wind energy.

It is environmentally friendly because, according to LG Innotek, the use of heavy rare earths (HREs), one of the main components of the magnet, has been cut by 60%. What's special is that the magnet's suction power is not affected, on the contrary, it improves the magnetic efficiency used in household appliances and driving motors to 14.8 kilogauss (kG), the highest level in the electronics manufacturing industry. Therefore, it is especially suitable for electric cars and hybrid cars. With smartphone cameras, the new magnets can provide clearer pictures and videos by increasing the driving force of the actuator by about 10%.

The launching a new type of magnet has made great significance, at the right time for the Korean electronics industry in particular and mankind in general because it is both environmentally friendly and more attractive than its competitors - common type of magnet. In addition, it is more convenient and applicable to modern technology. Especially when the electronics industry is growing strongly and forcing us to find ways to replace the HREs with high cost, lack of supply and problems related to environmental pollution.

LG Innotek Co., a branch of LG Corporation Korea, is a leading global components and materials engineering services company that develops key materials and components for the automotive industries of mobile, IoT, display, semiconductor, LED, ...

A magnet is a substance capable of attracting iron or nickel by gravity. Magnets have very diverse applications in life that you often encounter from industrial equipment to small devices in daily life (speakers, audio equipment, kitchen equipment, appliances, etc.) anti-theft devices, children's toys, ...). In particular, magnets are also used in medicine, applied in the treatment of many diseases.