LETTER TO THE STAKEHOLDERS
Last year, LGE achieved meaningful results in the midst of a wave of changes. This was because we prepared and executed our plans to create new customer values with our unique products under the slogan "Profitable Growth" and made ceaseless efforts to establish an organization that constantly grows and reform the way we work to prepare ourselves for the future. As we celebrate the 60th anniversary of our foundation, we aim to go beyond survival and discern the changes in trend to evolve into a sustainable company, making fundamental changes in the way we operate our businesses and constantly creating our own values.
Reflecting on the founding spirit that has driven changes in consumer life by taking on challenges, LGE will pursue its goal of "Creating a better life with our customers" and become a respected and trusted company that fulfills its social responsibilities. In our initiative to act on the company's identity that prioritizes customer value, people, and social responsibility, we will achieve three main tasks:
We will continue developing brands that are truly premium by launching leading products designed by finding differentiated customer values and capturing the lead in the market. We will strengthen our main businesses and secure the momentum for our preparation for the future in our path to becoming an unwavering company in spite of any crisis it may face. Bearing in mind that product quality is something that must not be compromised in creating customer values, not only our employees but also our suppliers will lead efforts to achieve the best quality.
We will set up a system of virtuous cycles by streamlining our platforms and adopting modular designs, standardization, and common application across all business areas to secure unrivaled product competitiveness and customer values that, together, generate ‘Profitable Growth’. LGE will stay ahead of the competition in its efforts to build a better life by applying future technologies such as AI and big data to all businesses and management decisions, expanding external partnerships, and taking the lead in the era of the fourth industrial revolution by driving the era of convergence.
LGE will ensure that its employees make bold attempts motivated by customer values and choose not to give up even when they fail but rise to the challenge. In the process, all members will stay true to the spirit of “Jeong-Do Management” under which they opt to deliver outcome through fair competition instead of resorting to expedients and taking chances.
LGE will minimize environmental impacts of the production process and fulfill its pledge and carry out activities to create a better society. We will advocate sustainability management that allows our stakeholders to grow together with the company by developing products and technologies geared toward the smart life of our customers and smart businesses, setting up a low carbon and circular economy system as well as sustainable supply chains, creating decent jobs, and addressing local issues through social contribution.
LG Electronics is confident that it will develop into an everlasting company that goes far beyond the next 60 years, fulfilling its social responsibilities and enjoying the respect and trust of its valued customers. Going forward, we will strive to pursue sustainable practices in the management of all business areas, continue growing, and shape a better future together with its valued customers.
We look forward to your continued support and interest.
Vice Chairman and CEO
Seong Jin Jo