Jeong Chul-dong, president of LG Display, expressed confidence in achieving a full-year turnaround to profit and stressed to employees the need to strengthen technological capabilities and quality competitiveness.
On the 31st, at the town hall meeting "CEO On Air" held in Paju, Gyeonggi Province, Jeong shared the third-quarter business results and strategies to strengthen business competitiveness with employees. The session was broadcast live online to all domestic business sites (Paju, Gumi, Magok, Yeouido) and to overseas business sites, including China and Vietnam.
Explaining the achievement of 431 billion won in operating profit in the third quarter, Jeong said the company posted meaningful results in quality and safety, cost innovation, and higher customer satisfaction. Jeong encouraged employees, saying, "The possibility of a full-year profit has increased."
He went on to stress, "For us to endure, we need 'our own moat' that provides a competitive edge and is hard to imitate." A moat is a ditch or pond dug around the outside of a fortress to defend against enemy intrusion.
As LG Display's unique moat, he pointed to ▲ technology leadership ▲ revenue structure ▲ quality ▲ supply stability ▲ customer partnerships. Jeong emphasized, "We must develop technologies that can dominate the market and generate profit to become 'No. 1 in technology, LGD.'"
He added, "The chief technology officer (CTO), business divisions, production, and quality—everyone across the company—must come together as one team and accelerate AX (AI transformation) to achieve overwhelming technological completeness."
Regarding the revenue structure, Jeong said, "Break away from fixed ideas, take on cost improvements with fresh thinking, and quickly spread best practices so they can be applied broadly."
Jeong also said, "Because the market is still undergoing innovative change, maintaining the status quo is regression," and urged, "Do not settle for the present—push hard and run twice as fast as others."