November 26, 2024

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LG Electronics Chief Executive Officer Cho Joo-wan talks about the company's vision to transform into a "smart life solutions company" during a press conference held at LG Sciencepark in Seoul in July. (Herald DB)

LG Electronics CEO Cho Joo-wan will lay out the blueprints for the home appliance giant’s vision and innovation in artificial intelligence-based future growth a day ahead of the opening of the Consumer Electronics Show in January in Las Vegas, according to the company on Tuesday.

Under the theme of “Reinvent your future,” the CEO will unveil the company’s key focuses for next year at the company’s global press conference, dubbed the “LG World Premiere,” on Jan. 8 by inviting some 1,000 partners and media worldwide to the Mandalay Bay Convention Center.

Cho will talk about how the company is leveraging AI to enhance both consumers’ living spaces and experiences as well as highlight LG’s bold vision to transform into a “smart life solutions provider” to upgrade its core identity as a top home appliance brand.

The future vision was first introduced by the LG chief in July as he saw the traditional home appliance market had experienced rapid changes. The company has planned to expand its home appliance-centered business to commercial, mobility and virtual spaces. It also looks to achieve a global annual revenue of 100 trillion won ($77.3 billion) by 2030, from around 65 trillion won last year.

In addition to Cho’s presentation, LG will showcase some of its products first at the LG World Premiere, while they will display electrical appliances, technology installations and entraining interactive spaces at the company’s exhibition booths at the upcoming CES event.

LG officials said the LG World Premiere will also be livestreamed at 8 a.m. Pacific Standard Time on Jan. 8 in Las Vegas through the company's official website and its global YouTube channel.

Meanwhile, LG Group announced its year-end executive reshuffle and established an overseas sales and marketing division on Friday. It is to bolster the group's global business, which focuses on the acceleration of the home appliance giant's vision for 2030.

LG Group officials said the new division, which will report directly to Cho, will be responsible for elevating LG Electronics' global recognition by fostering new opportunities and growth.

By Jie Ye-eun  (yeeun@heraldcorp.com)