Lee Jeong-ae, CEO of LG Household & Health Care, "Turning Around Two Years of Slump"... Aiming for 'Growth Transition'

2024 New Year's Address
Preparing for 'The Who' Entry into the US Market
Emphasizing 'Immersion' for Differentiated Customer Value

Jung-ae Lee, CEO of LG Household & Health Care, stated in her New Year's address on the 2nd, "This year must be a turning point for new growth, shaking off the stagnation of the past two years."

CEO Lee set this year's management goal as 'growth transition' and said, "We must shift from short-term results achieved solely through austerity (endurance) without investment in the future to continuously preparing for the future while steering business performance in an upward direction."

To this end, CEO Lee announced that she will focus on four key areas: expanding the global beauty market presence of major brands such as The Whoo, strengthening organizational capabilities, enhancing work efficiency and performance through data-driven approaches, and immersing in creating differentiated customer value.

The Whoo, which CEO Lee specifically highlighted, is a luxury royal court cosmetics brand. The plan is to strengthen its status as a luxury brand through brand rebuilding and prepare for entry into the U.S. market. She also mentioned 'belif', 'CNP', and 'The Face Shop' as global MZ generation (Millennial + Gen Z) target brands, aiming to expand their presence in the global market. In the household goods sector, she intends to increase investment in 'Physiogel' and 'Dr. Groot' to expand globally.

Regarding strengthening organizational capabilities, she explained the need to form agile project teams for notable product development and nurturing, establish close collaboration systems between domestic and overseas subsidiaries, and make efforts to secure talent through expert development. To improve work efficiency and achieve results, she proposed strengthening direct-to-consumer (D2C) sales by sellers, building an integrated customer data management system (Customer 360), and unifying point systems.

Above all, she emphasized that immersion in 'creating differentiated customer value' is crucial to leap forward as an innovative company. CEO Lee said, "It is necessary to keenly detect changes in customers and markets, deeply contemplate the connection between those changes and our work and business, and practice this immersion intensely," adding, "This relates to changes in the way we all work and our attitudes."

CEO Lee concluded, "In 2024, let us gather our earnestness and intensity to build a company that all employees are proud of and that everyone wants to be a part of."

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