LG Electronics Expands Employee-Executive Communication Channel 'FunTalk' from CEO to Top Management

Baeduyong CFO Vice President Fund Talk... Discussion on Performance and Future Strategy
Following CEO, CFO, CSO, CTO and Other Top Executives Participate
Part of LG Electronics Organizational Culture Innovation Project 'Reinvent'

LG Electronics' communication channel between employees and the Chief Executive Officer (CEO), 'CEO F.U.N. Talk (Fun Talk),' is spreading as an official communication platform for top executives such as the Chief Financial Officer (CFO), Chief Strategy Officer (CSO), and Chief Technology Officer (CTO).

LG Electronics announced on the 8th that Vice President Bae Doo-yong, CFO, recently held a 'CFO Fun Talk' with employees. Vice President Bae communicated with employees about the significance of the third-quarter performance and future management strategies. This was the first time Vice President Bae engaged in real-time communication with members through Fun Talk.

Vice President Bae shared specific figures such as sales and operating profit with about 5,000 employees who participated in the Fun Talk. He also explained the changes in figures driven by efforts to transform LG Electronics' business portfolio and future preparation strategies to respond to the rapidly changing environment.

He answered questions from employees as well. For example, he provided detailed explanations about the management performance of each business division and region and presented specific measures to achieve business goals. Regarding questions about the business environment in the fourth quarter and next year, he acknowledged, "It is true that concerns exist about the three highs (high interest rates, high oil prices, and a strong dollar) and expanding geopolitical risks," but added, "We must continue efforts to improve the business structure, such as expanding business-to-business (B2B) transactions, growing non-hardware (Non-HW) businesses, and activating online sales."

Baek Doo-yong, Vice President and Chief Financial Officer (CFO) of LG Electronics (center), explaining business performance and future strategies to employees at the recently held CFO F.U.N. Talk event.
[Photo by LG Electronics]

Fun Talk is LG Electronics' unique communication method centered on the F.U.N. experience for employees. The F.U.N. experience means ▲ sharing the company's major news with employees first (First), ▲ providing a special experience (Unique) to employees participating in communication, and ▲ offering a communication experience that feels new (New). CEO Cho Joo-wan started it in January last year. It has been held nine times so far. During Fun Talk, CEO Cho sent childcare products as a gift upon learning about an employee’s newborn son through real-time chat by chance. He also sent surprise cakes to employees on their birthdays.

Employee responses have been positive. Each CEO Fun Talk session attracts participation from about 5,000 to 10,000 employees, who raise various questions and opinions. In a recent survey on establishing LG Electronics' vision, more than 3,500 employees proposed over 7,000 ideas. The number of employees posting opinions and comments on the company bulletin board has increased more than 150 times compared to before Fun Talk started.

LG Electronics plans to expand Fun Talk as the company's exclusive official communication channel. Vice President Kim Byung-hoon, CTO, will engage in communication at the end of this month. Last month, Vice President Lee Sam-su, CSO and Chief Digital Officer (CDO), shared opinions with employees on the topic of 'Digital Transformation (DX) and Customer Experience (CX) virtuous cycle system.'

Fun Talk is part of LG Electronics' unique organizational culture innovation program, 'REINVENT LG Electronics.' Based on 11 REINVENT guides created by employees themselves, LG Electronics encourages active employee participation in management and provides employee experiences. The company stated that it is creating a more mature organizational culture through sincere communication.

An LG Electronics official said, "REINVENT LG Electronics aims for employees themselves to create enjoyable changes and reboot a new LG Electronics," adding, "Through active communication, we are promoting the rapid and transparent sharing of company information and practically improving inconveniences."

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