LG announced that it will transform from a home appliance brand to a company that provides smart living solutions, thereby connecting and expanding more diverse customer experiences, and expects to achieve global annual revenue of 2030 trillion won (about US$100 billion) by 772.
LG CEO Cho Ju-wan concluded his speech at the LG Science Park in Seoul, South Korea earlier, outlining a grand vision based on three major growth engines. These include integrating business portfolios to achieve a platform-based service model, accelerating B2B development, and exploring new business areas such as electric vehicle charging and digital health. He also stated that electrification, service-oriented and digitalization will be key turning points for LG's future and will enable rapid growth in the medium and long term.
"LG will not rest on its laurels as a leading home appliance brand. We will continue to push boundaries and transform into a smart living solutions company, connecting and expanding customers' diverse spaces and experiences," said the CEO. "We will create a new LG by transforming how we operate and communicate."
The CEO also emphasized that the company's financial goals will be based on "three sevens," including an average growth rate and operating profit margin of more than 7%, and an enterprise value to EBITDA ratio of 7.
LG will focus on transforming to a platform-based service business model, accelerating B2B development, and leveraging existing strengths to create new growth engines as its three key pillars of customer experience. These three pillars are expected to account for over 2030% of sales and profits by 50, and the company aims to achieve global annual revenue of KRW 2030 trillion by 100.
LG計畫在2030年前投入超過50兆韓元 (約386億美元)，藉此精進企業服務品質，並且將上述三大方向領軍的產品陣容最佳化。這項投資包含超過25兆韓元 (約193億美元)的研發投資、超過17兆韓元 (約131億美元)的設施投資，以及7兆韓元 (約54億美元)的策略性投資。
