LG Electronics Inc said on Wednesday it has invested KRW 10 billion in Lifegoeson, the operator of mobile laundry platform Laundrygo, as the South Korean appliance maker seeks to expand beyond hardware sales into comprehensive service solutions.
The strategic investment reflects LG’s efforts to strengthen its business-to-business operations by combining its home appliance manufacturing capabilities with technology-driven service platforms, the companies said in a joint statement.
Founded in 2019, Laundrygo has established itself as South Korea’s largest mobile laundry service by revenue, operating through a contactless mobile application, 176 unmanned smart laundromats under the Laundry24 brand, and a dedicated hotel and corporate service division called Laundrygo Hotel & Business.
The company reported revenue of KRW 55.7 billion in 2024 and has raised more than KRW100 billion from investors to date, according to company filings. Proceeds from the LG investment will fund international expansion, with Japan identified as an initial target market for the companies’ joint mobile and unmanned laundry technology platform. The partnership will also support construction of large-scale automated laundry facilities and development of future products leveraging customer data from both organizations. Under the agreement, Laundrygo facilities will deploy LG’s latest all-in-one washer-dryer units, providing the electronics manufacturer with operational feedback to refine its commercial appliance portfolio.
The deal comes as traditional appliance makers face pressure to develop recurring revenue streams and service-based business models in increasingly saturated hardware markets.
