Company Aims to Advance Business Portfolio by Transitioning to Platform-based Service Business Model, Accelerating B2B Business and Procuring New Growth Engines .jpg)
Mr. William Cho, LG CEO
LG Electronics (LG) declared its vision to transform from its current position as a top global home appliance brand to a “smart life solutions company” that can connect and expand customers’ diverse experiences while driving for global annual revenues of KRW 100 trillion by 2030.
In a landmark speech today at the LG Sciencepark in Seoul, South Korea, CEO William Cho outlined the bold vision built on three growth engines: pursuing new platform based service businesses through advancement of business portfolio, accelerating business-to-business (B2B) and exploring new business areas such as electronics vehicle charging and digital health. The CEO identified electrification, servitization and digitalization as key inflection points LG will focus on to achieve rapid mid- to long-term growth.
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