Here's my full translation:
LG worked closely with Google to release the LG V20 with the latest Android operating sytem, Android 7.0 (Nougat). Of smartphones launched and equipped with Android 7.0, the V20 will be the first.
V20 is a premium flagship by LG and offers the best multimedia experience in succession to the V10 model released last October. LG plans to launch the V20 in September and stated that the name V20 means that it is going after perfection.
The V10 introduced the world’s first “dual selfie camera” and “second scree”, a feature that enhances the user’s visual experience. It was also the first smartphone built with a HiFi 32-bit DAC (Digital to Analog Converter. It received a great response from consumers due to it’s excellent sound quality.
LG has launched the Google reference smartphones: Nexus 4, Nexus 5 and Nexus 5X. In addition, LG and Google have signed a ‘global patent cross-licensing agreement (Cross-licensing Agreement), and strengthened their existing partnership, including a comprehensive patent application until 2023.
LG CEO MC Business Division, President Cho Jun-Ho said, “The latest Android OS will be equipped on the V20; the first among the newly released smart phones”. The V20 will set new standards in the premium phone market and has more expanded multimedia capabilities”, he said.
A friend ran it through Google Translate and had some different takeaways, but I interpret this as LG saying that they'll be the first non nexus OEM to ship phones that are running Android 7.0.