LG: focus on the Asian production sites

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As a region that boasts high economic and growth potential, Asia is a strategic market for LG. Last year, the company achieved sales of more than KRW 7.8 trillion in the Asian market, continuously increasing sales by about KRW 1 trillion yearly with double-digit growth over the past two years. This month, LG CEO Cho visited the company’s key production bases in Asia, including Vietnam, Thailand and Indonesia, directly looking into key factors of operational advancement strategies, such as quality enhancement, supply chain, cost structure improvement, safety and productivity. “Let’s further strengthen our market dominance and solidify the foundation for sustainable growth by upgrading our locally-optimized operation methods and providing world-class quality, cost competitiveness and reliable delivery to our customers – CEO Cho said–. We should look to pioneer future markets with our unmatched innovation and ability to overcome challenges, while holding firm to the belief that opportunities come from delivering exceptional customer experiences”. The CEO began his Asian tour in Ho Chi Minh City, Vietnam, where he was joined by the heads of LG’s Asian subsidiaries for a management meeting. There, he was briefed on the company’s regional performance and discussed the status of individual markets including Vietnam, which serves as a global production base for LG’s electronic devices and home appliances. He also had in-depth talks with the subsidiary heads on a variety of business matters, such as improving production efficiency, verifying mass production processes for new products, enhancing quality control and boosting growth through mutually beneficial partnerships. Departing Vietnam, CEO Cho headed to Thailand to visit the Rayong factory and its home appliance production lines. Next, he traveled to Jakarta, Indonesia to inspect LG’s Cibitung plant, which has become a major TV production base for the company’s premium product lineups. After Jakarta, the CEO made a stop in the city of Tangerang, meeting staff and looking over facilities at the local LG plant, which focuses primarily on refrigerator production. Cho was also interested in seeing the progress of the company’s eco-friendly smart factories in Asia – including the introduction of solar power plants and the establishment of automated informatization and intelligent systems. Besides, in Vietnam Cho discussed ways to better target the country’s large number of economically active young consumers including Generation Z.