LG's board of directors recently approved a series of organizational adjustments and senior-level appointments aimed at fostering synergy among internal organizations and helping to drive its innovative business portfolio, thereby accelerating the company's mid- to long-term development strategy, "Future Vision 2030."
The core of this restructuring is to reorganize LG's business operations to maximize the potential of existing businesses, strengthen platform-based service operations, accelerate the development of the B2B commercial field, and ensure new growth momentum in high-potential areas.
These changes are aimed at improving efficiency through strategic selection and resource concentration, thereby creating greater synergies among internal businesses and enhancing future competitiveness.
To drive this transformation, LG is also appointing outstanding talents with excellent expertise, emphasizing the need to drive the company's long-term competitiveness by building a high-performance organization.
In this organizational restructuring, LG will establish a new company to strengthen the growth of its heating, ventilation and air conditioning (HVAC) business, which will become a key part of LG's strategy to accelerate development in the B2B commercial sector. The overseas sales and marketing company will become the control center for overseas B2B business.
Furthermore, the display-based businesses (including TVs, monitors, and commercial displays) will be integrated to foster synergies between businesses and expand platform-based services. New growth drivers will be strategically reallocated to companies with larger business ties, ensuring more stable support and creating synergies across business areas.
The four companies will include "Solution" in their names to reflect LG's transformation into a provider of smart living solutions, enhancing customer experience in diverse scenarios such as homes, commercial spaces, mobility, and virtual platforms.
