Lee Jeong-ae, President of LG Household & Health Care, "Continued Expansion and Strengthening of Overseas Business"

China's 'Reorganization' and North America’s 'Customer-Customized'
'Two-Track Strategy'... Expanding Global Market Penetration

Lee Jeong-ae, President of LG Household & Health Care. Photo by LG Household & Health Care

[Asia Economy Reporter Moon Hyewon] On the 2nd, Lee Jeong-ae, CEO of LG Household & Health Care, expressed a strong ambition to become a global luxury beauty company, stating in her New Year's address that "the expansion of overseas business must continue and be strengthened."

She conveyed a message to employees, saying, "We will do our best to create and support the necessary environment so that everyone can move toward customer value with passion and joy."

This is the first New Year's message from CEO Lee, who was appointed CEO of LG Household & Health Care last December. She said, "The rapid market changes last year brought us many difficulties," and added, "Since taking on the responsibility of CEO, I have been listening to various voices and reflecting on them while organizing business operation plans for the company's growth."

She continued by focusing on the essence of LG Household & Health Care's business?brands and products?and said, "We are listening to opinions and thinking together about whether we align with the major trends of the market and customers, and what we need to prepare to remain a brand that customers will continue to seek five or ten years from now."

To this end, CEO Lee presented three key focus areas for 2023: ▲ Fresh attempts in line with market and customer changes ▲ Continued and strengthened expansion of overseas business ▲ Deep consideration and communication from the perspective of customer value.

She added, "We will encourage new and fresh attempts to actively take place in line with market and customer changes and highly value those efforts." Specifically, regarding brands and products, she said she would strive to generate many comments both inside and outside the company such as "This is really innovative" or "Is LG Household & Health Care a company that tries such distinctive attempts?"

CEO Lee also outlined plans to target the two major global beauty markets, China and the United States. Regarding the Chinese market, she said, "We plan to focus on strengthening the brand portfolio and expanding the local distribution base in line with market and customer change directions." Additionally, for the North American market, she stated, "We plan to steadily prepare brands and products suited to the local market and customer characteristics and reinforce local business operation capabilities."

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