LG Chairman Koo Kwang-mo, Executive Meeting on 23rd: "Discussing Ways to Enhance Customer Value"

[Asia Economy Reporter Kang Nahum] LG Chairman Koo Kwang-mo will hold a meeting with subsidiary presidents on the 23rd under the theme of 'Enhancing Customer Value.'

According to LG on the 22nd, Chairman Koo is scheduled to hold a meeting with the presidents of LG Electronics, LG Display, and LG Chem at the Yeouido Twin Towers in Seoul on the 23rd. As a regular meeting, Chairman Koo has gathered once every quarter with the presidents of each subsidiary to discuss management issues.

The agenda this time is customer value. This is based on the judgment that customer value should be emphasized especially in times of crisis. An LG official said, "The outlook for the business environment in the second half of the year is overwhelmingly difficult to predict," adding, "There is a growing voice that we must fiercely discover products and services that customers will seek under any circumstances."

Marking his fifth year in office, Chairman Koo has been focusing on customer value as a keyword in his management strategy. At the presidents' workshop held last September, he emphasized, "It has become more important and urgent to qualitatively enhance the competitiveness of our business by focusing more on the 'customer value management' that we have pursued unwaveringly," and added, "To do so, the starting point of the business purpose and direction must begin with customer value."

Some expect that the group will discuss countermeasures at the group level, considering the recent signs of stagflation accompanied by economic recession and high inflation.

In fact, as concerns about a global economic crisis grow due to high inflation and high interest rates, the business community is preparing countermeasures. Earlier, Samsung held an emergency meeting with 25 presidents of its electronics subsidiaries on the 20th for the first time in five years, and SK Group held the '2022 Expanded Management Meeting' at Walkerhill Hotel in Gwangjang-dong, Seoul on the 17th.

However, an LG official drew a line on such expectations, saying, "This is a quarterly presidents' council meeting where Chairman Koo places the highest importance on discussing ways to enhance customer value together."