Jung Ho-young, LGD President: "We Will Build a Big House Together with Partners by Stacking Bricks"

'2020 New Year Meeting for Win-Win Growth'
Sharing Business Strategies with Over 80 Partner Companies

Jung Ho-young, President of LG Display.

[Asia Economy Reporter Dongwoo Lee] LG Display announced on the 19th that it held the ‘2020 Win-Win Growth New Year Meeting’ on the 17th with CEOs of key parts and equipment partners to explore major cooperation plans.

At the event, Jung Ho-young, President of LG Display, said, "If LG Display and its partners build bricks step by step together, we will be able to build a big house where everyone can live together."

The event was held at LG Display’s facility located in Paju, Gyeonggi Province, inviting major company executives and representatives from over 80 partner companies. LG Display directly explained the company’s business strategy to its partners and shared the display market outlook and key purchasing tasks.

The event also included a lecture on the 2020 domestic and international economic outlook by Park Rae-jung, Head of LG Economic Research Institute, followed by a session sharing the 2020 display market forecast with attendees.

At this meeting, LG Display announced plans to accelerate its steps toward market leadership together with its partners based on business strategies such as ▲mainstreaming large OLED, ▲turnaround of the P-OLED business, and ▲accelerating LCD structural innovation.

LG Display has been actively supporting the fundamental competitiveness enhancement of its partners for win-win growth. A representative example is the manufacturing innovation project aimed at strengthening partner capabilities.

Last year, 331 manufacturing innovation tasks were carried out for 14 partner companies. These manufacturing innovation tasks that contributed to improving manufacturing capabilities included process intelligence projects that increased inspection accuracy by using AI for parts defect inspection previously done by human eyes, enabling efficient management of inspection personnel, as well as process innovation activities, computerization, automation, and energy saving.

Additionally, LG Display awarded the ‘Best Partner Award’ to nine parts and equipment partners who achieved outstanding results last year and led the market.

LG Display held the '2020 Win-Win Growth New Year Meeting' at its Paju plant on the 17th, inviting CEOs from about 80 key parts and equipment partner companies, with major executives in attendance. (From left in the photo) LG Display CTO Vice President Kang In-byeong, CEO Kim Pil-young of Inox Advanced Materials, CEO Kim Won-nam of Top Engineering, CEO Park Yong-seok of DMS, CEO Hwang Cheol-ju of Juseong Engineering, LG Display CEO President Chung Ho-young, CEO Shin Yoon-hong of TLI, CEO Jang Dae-su of Fine Altech, LG Display Purchasing Group Head Executive Director Choi Young-geun.

This content was produced with the assistance of AI translation services.