Lyu Jae-cheol, the new chief executive officer (CEO) of LG Electronics, said, "Let's move forward with confidence, believing that there is a greater opportunity in crisis, and create a new leap together," as he presented five key tasks.
On the 23rd, Lyu said this in a New Year video message sent to about 70,000 employees in and outside the country. LG Electronics has been delivering its New Year's message ahead of the New Year since 2022.
Lyu said, "Over the past few years, we have strengthened our fundamental competitiveness, added new growth engines, and proven in the market that LG Electronics' strategy and execution work."
He went on to say, "We must put customers first in every decision and act with the mindset that 'execution is power' and 'action is the answer,'" identifying "speed of execution" as LG Electronics' most important competitive edge. Lyu emphasized, "When relentless execution accumulates, customers will finally experience the exceptional value that 'LG Electronics is truly different,' and that is exactly what we do best."
He added, "It is our strength that we have created a gap in competitiveness through thorough preparation and speed of execution centered on customers, and based on this strength, let's focus on five key tasks and once again change the game of competition."
Lyu presented five key tasks: ▲ strengthening the competitiveness of core businesses ▲ accelerating qualitative growth ▲ improving the soundness of the regional portfolio ▲ identifying new growth opportunities ▲ changing the way we work.
First, to strengthen the competitiveness of core businesses, he said they must quickly commercialize "winning tech" to change the market and create a gap that competitors cannot easily follow. The idea is to focus on areas that can lead trends and win in competition from the perspectives of customer value, business potential, and technological competitiveness.
In addition, the company plans to make focused investments in B2B, solutions, and D2C businesses based on profitability to serve as a clear driver of qualitative growth. It also set an ambitious goal to double sales by 2030 in emerging markets such as India, Saudi Arabia, and Brazil.
As areas to identify new growth opportunities where LG Electronics can secure a competitive edge, it cited AI Home, Smart Factory, AI data center cooling solutions, and robots.
Lyu also emphasized changing the way of working through AX, saying, "We will build an environment where all employees can use AI easily and conveniently."