Since assuming office at the end of 2021, LG CEO William Cho has actively engaged with company employees through the ‘CEO F.U.N. Talk’ program. The 9th session of this program was held on December 7 at the LG Twin Tower in Yeouido, Seoul, providing a reflective overview of the year and expressing determination to accelerate the achievement of Future Vision 2030 in a meaningful and enjoyable communication session.
Mr. Cho commenced by acknowledging everyone’s dedication and efforts throughout the challenging environment of the past year. He highlighted the declaration of Future Vision 2030 as one of the most memorable events. “It was the result of collective efforts and thoughtful considerations,” stated CEO Cho. “Together with all of you, I will strive to fulfill our commitment towards achieving this vision, engaging in brave new challenges, and developing exciting new journeys.”
The vision outlines the company’s transformation into a Smart Life Solution Company, going beyond home appliances and connecting and expanding various experiences in all spaces within customers’ lives.
In addition to regular F.U.N. Talk sessions throughout the year, CEO Cho mentioned the participation of top executives such as CFO, CSO and CTO in fostering a culture of close communication between the leadership team and employees.
During the event, CEO Cho discussed strategic directions for 2024, including portfolio enhancement, performance creation through the integration of Customer Experience and Digital Transformation, and reinforcement of future preparations. He highlighted the roles each organization should focus on to accelerate the achievement of Future Vision 2030.
“Home Appliance & Air Solution Company must strengthen future preparation capabilities including smart home appliances, while Home Entertainment Company should focus on accelerating the growth of its platform business to become a true media and entertainment company,” said CEO Cho. “Vehicle component Solutions Company should further enhance capabilities to respond proactively to trend changes in software-defined vehicles, and Business Solutions Company must grow into a B2B specialist by expanding its vertical solution businesses.”
CEO Cho also recognized the winners of the LG Electronics Innovation Awards for their exceptional contribution to creating unique customer value. Four teams were selected as this year’s award winners: the Development team of the world’s first 4K/120Hz wireless transmission solution for OLED TVs, the Task team that transformed the paradigm of smart home solution subscription services, the team that enhanced customer convenience through the establishment of an integrated customer call system and the Task team for ocean freight advancement.
He expressed his commitment to continuing the Awards. “This award will continue to operate in a direction that shines a light on the efforts of all LG Electronics members who work diligently and receive recognition for their achievements,” mentioned CEO Cho, “Everyone who has constantly strived and made efforts to create customer value in their respective roles is already today’s hero.”
As the final ‘CEO F.U.N. Talk’ of the year, the event garnered enthusiastic responses from employees. Over 10,000 members participated in the event, and prior to it, they shared various opinions in the online comment section in response to the question, “What is the most memorable achievement of LG Electronics this year?”
Thousands of comments were posted, including sentiments like, “Everyone who has shown outstanding performance even during the challenging circumstances has made an achievement,” “It was memorable to see LG gradually change with its steady brand REINVENT activities, and it made me look forward to the next year,” and “Along with the release of innovative products, the communication between the management and employees was impressive, such as CEO F.U.N. Talk, where achievements are shared quarterly and time is spent to understand each other.”
During the event, Mr. Cho engaged in candid Q&A with employees. He particularly emphasized the question from an employee about the company’s vision for the coming year. “I want to create an organization that everyone wants to be a part of – a joyful workplace that fosters horizontal communication across hierarchies, and more importantly, an organization that consistently achieves high performance,” said CEO Cho. “To accomplish this, we need to intricately connect our mission, vision and goals and have a relentless focus on execution.”
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