Jung Ho-young, LGD President: "We Will Leap Forward with New Management Goals and New Ways of Acting"

Goal Change After 8 Years... Restructuring Non-Whole System
Emphasizing Customer Value Priority and Open Collaboration

Jung Ho-young, President of LG Display

[Asia Economy Reporter Dongwoo Lee] LG Display announced on the 16th that it has established a new management goal of becoming the "Best Display Solution Company" and reorganized its vision system. This signifies the company's response to structural changes in the industry, the acceleration of digital innovation, and changes in the management environment.

LG Display's new management goal reflects the company's commitment to providing customers with the "best solutions" at the "highest level" not only in products and technology but also in services, processes, systems, and talent across all areas. It includes a blueprint to expand the business scope beyond panel manufacturing to encompass the entire ecosystem from a business model perspective.

LG Display stated, "The reason for changing the previous management goal of 'Global Number One Display Company' after eight years is because we judged that it is important to pursue business under a goal that resonates with customers in this era."

LG Display emphasized internal innovation to realize the management goal. To this end, it newly selected five behavioral principles that all employees must practice: ▲Customer Value Priority ▲Insight ▲Agility ▲Meticulousness and Thoroughness ▲Open Collaboration.

LG Display's Non-Display System Diagram

Based on the new vision system, LG Display is determined to successfully achieve three core strategic tasks: ▲Mainstreaming Large OLED ▲Turnaround of Plastic OLED ▲Acceleration of LCD Structural Innovation.

For large OLED, the company plans to solidify the "mainstreaming of OLED" by improving production efficiency and market responsiveness. For plastic OLED, it aims to lead a turnaround by strengthening its business foundation based on core competitiveness. For LCD, it is accelerating structural innovation focused on high-value-added products such as IT LCDs to enhance profitability.

Under this business structure transformation, LG Display plans to ensure that all employees clearly share the new direction and core values and thoroughly execute them to fully focus on providing customer value-centered solutions.

Jung Ho-young, CEO of LG Display, said, "Although uncertainty in the management environment remains strong, the spread of non-face-to-face and contactless lifestyles and the acceleration of digital innovation will become new opportunities for the industry," adding, "Based on the world's best technology and talent assets, let us leap forward into a stronger and new company through new goals and behavioral principles."

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