LG

■ Chairman Koo attends company President’s Workshop and addresses staff at Konjiam Resort in South Korea.
 
■ Top executives also attended as the company assessed its current strategic initiatives and business portfolio.
 
■ The company resolved to continue to support Busan’s bid to host the World Expo 2030.
 
 
On September 29th, LG held a ‘President’s Workshop’ with top executives at Konjiam Resort in Gwangju, Gyeonggi Province, South Korea to discuss mid-to-long-term strategies and future business planning.
 
LG Corp. Chairman and CEO Kwang Mo Koo and 30 heads of affiliates, including CEOs and other business unit leaders, reviewed the direction of the future portfolio over the next five to ten years, built using a “select and focus” approach coupled with in-depth discussions about detailed implementation strategies. They agreed during the meeting that all strategies for future readiness should be developed from the perspective of the company’s future customers.
 
The workshop opened with speeches by Joo Jae-woo, a professor in the College of Business Administration at Kookmin University, and Thales S. Teixeira, former associate professor at the Harvard Business School. Joo’s lecture covered the fundamentals of understanding and designing innovative customer experiences, while Texeira spoke about how to better execute strategies that will realize customer value.
 
The top executives then closely examined the results of the group’s ongoing customer-value-driven innovation initiatives and explored ways to foster a more customer-centric culture that would be seen and acknowledged by customers.
 
During a breakout session in the afternoon, they carefully evaluated the current group businesses from the perspective of future customer values and competitiveness, while also discussing ways to enhance future value of the company’s business portfolio.
 
In addressing the group, Chairman Koo sought to encourage positivity. “When the business environment is challenging, we should not let it drag us down. Instead, we should remain proactive and focused on making decisions that shape the future,” said Koo, also emphasizing that “we should always think from the perspective of future customers, first and foremost. We need to ask who our future customers are, what they really want, and what kind of new value we can create in response. The answers to these questions are the beginnings of future readiness for the company.”
 
He closed by pointing out that “Our future competitive edge lies in how much differentiated value LG can provide to customers through customer experiences, products, solutions, brands, and more.”
 
On the same day, LG also had a separate discussion on how to support Busan’s bid to become the host of the World Expo 2030. The group looked at how LG is currently supporting the bid and agreed that, due to the important national significances of the bid, top management should continue its robust support activities at home and abroad.
 
Since the onset of the Covid pandemic in 2020, LG has conducted ‘President’s Workshop’ both offline and online. The latest in-person gathering marks the first in three years since September 2019.