[New Year's Message] Songgu Young, CEO of LG HelloVision, "Regional-Centered Growth with Local Creators"
Home and Community-Centered 'Local Creator' Leap Declared
"Leading Differentiated Growth by Promoting Regional New Businesses"
Song Gu-young, CEO of LG HelloVision, announced plans to grow as a 'Local Creator' through corporate restructuring and the promotion of new regional businesses.
On the 2nd, CEO Song delivered a New Year's address at LG HelloVision's '2024 In-Person Kickoff Ceremony' held at the Sangam office, calling for fundamental improvements in business structure and organizational culture to counter the economic downturn and changes in the media environment. He also added a message to actively pursue region-centered growth as a Local Creator. This kickoff ceremony was held in person for the first time in four years since COVID-19 and included ▲CEO New Year greetings ▲sharing of 2024 strategic directions ▲Q&A with management ▲introduction of new employees and New Year events.
CEO Song stated, "In the face of the economic downturn and the crisis of changes in the media environment surrounding the company, survival is no longer possible with a business structure centered on broadcasting and telecommunications." He urged, "Expand the business portfolio beyond budget phones and rentals to include new regional businesses, solidify a customer-centric organizational culture, and undertake thorough corporate restructuring."
He also presented mid- to long-term strategic directions. CEO Song said, "2024 will be the inaugural year for our leap as a 'Local Creator' that newly creates regional value." He added, "In the mid to long term, we will accelerate the qualitative growth of the home business while focusing on the three major regional new businesses (culture & tourism, education, commerce) to lead differentiated growth."
He further noted, "Last year was a meaningful year of solid growth based on improved performance despite a challenging business environment." He emphasized, "In particular, the simultaneous restructuring of broadcasting and telecommunications products and digital channel competitiveness has made the qualitative growth of the home business visible, and the expansion of regional new businesses and activation of the Jeoljeol Market service confirmed the potential for region-centered growth."
This year’s core strategies are based on growth centered on two pillars: the 'home business' and the 'regional business,' including ▲securing a foundation for continuous growth in broadcasting and telecommunications businesses ▲strengthening growth potential of budget phone and rental businesses and leading market trends ▲concretizing growth models for new regional businesses.
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CEO Song called for focusing on differentiated customer value to create a 'Together Growing 2024.' He said, "Since uncertainties in the internal and external management environment are expected to continue in 2024, we must overcome crises through straightforward methods by innovating customer value and realize differentiated customer value." He added, "In the new year, I hope we create success stories where our slogan, 'Making everyday life convenient, making regions valuable,' is realized through customer experience and emotion, and that it becomes a year of growth for all."
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