November 29, 2024

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LG Group Chairman Koo Kwang-mo (center) attends a strategy meeting with some 40 top executives across LG companies in Icheon, Gyeonggi Province, on Wednesday. (LG Group)

LG Group Chairman Koo Kwang-mo convened a strategy meeting Wednesday to discuss mid- to long-term management directions with some 40 top executives at LG companies.

The meeting, held at LG Inwhawon in Icheon, Gyeonggi Province, began with a discussion on strategies to navigate and respond to the rapidly changing business environment.

LG Electronics CEO Cho Joo-wan introduced key examples of the tech giant’s customer-centric management system, which has been a core focus over the past three years. He emphasized the importance of bold innovation and transformation, while also providing insights into the competitiveness of Chinese companies, which are advancing at an accelerated pace.

Case studies demonstrating LG’s key innovations, especially on artificial intelligence, followed. They included LG Electronics’ AI-powered chatbots for internal data analysis and LG Display’s AI systems monitoring defects in the manufacturing process.

Other success cases were shared such as LG Chem’s support app for fertility treatment and LG Energy Solutions smart factory solutions.

"LG stands today as a global leader because we boldly set our sights on being the first and the best," said Koo during the meeting. "Even while others saw the limits of white goods, we set a target of 30 percent growth instead of a 5 percent improvement and created the top brand in the global market. We pioneered the world’s first mass-produced electric vehicle battery that became a turning point in the electric vehicle era, even when there was talk of going out of business. And we were the first to get FDA approval for a drug that would not have been possible in Korea, raising the foundation of the Korean drug industry."

He also urged the need to aim high: "As we look ahead, let’s continue to break free from convention and aim to be the best, the first, and to do our utmost to shape the history of LG’s future together."

By Jie Ye-eun (yeeun@heraldcorp.com)