LG Electronics CEO Jo Joo-wan Meets Partners to Discuss Crisis Response: "We Must Stay Vigilant"

LG Electronics Executives Attend 'Partner Association Workshop' on the 17th

LG Electronics CEO Jo Joo-wan and the LG Electronics management team attended the 'Partner Association Workshop' held at LG Digital Park in Pyeongtaek, Gyeonggi Province, where they discussed concrete cooperation plans with representatives from 85 partner companies to achieve sustainable growth amid rapidly changing business environments.

The Partner Association Workshop held on the 17th saw a large attendance of executives including CEO Jo, Ryu Jae-cheol, Head of the H&A Business Division, Park Hyung-se, Head of the HE Business Division, Eun Seok-hyun, Head of the VS Business Division, Jang Ik-hwan, Head of the BS Business Division, Jung Dae-hwa, Head of the Production Technology Institute, and Wang Cheol-min, Head of the Global Operation Center.

At the event, LG Electronics and partner company executives reviewed the global business environment and pledged to strengthen cooperation to respond to external threats faced across all business areas, such as the pursuit and technological competition from Chinese companies. They examined the strategies of rapidly growing major Chinese companies and the restructuring global market landscape, sharing LG Electronics’ response strategies covering research and development (R&D) operations, products, and price competitiveness to overcome these challenges.

LG Electronics CEO Jo Joo-wan and heads of each business division met with representatives from 85 partner companies to discuss co-growth strategies. (Front row from left) Eun Seok-hyun, Head of VS Division; Park Young-geun, Chairman of VS Partners Association; Park Hyung-se, Head of HE Division; Lee Seung-won, Chairman of HE/BS Partners Association; Wang Cheol-min, Head of Global Operation Center; Han Dong-kwon, Chairman of Company-wide Partners Association; Jo Joo-wan, CEO of LG Electronics; Jung Tae-young, Vice Chairman of Company-wide Partners Association; Ryu Jae-chul, Head of H&A Division; Jo Young-do, Chairman of H&A Partners Association; Jang Bong-ik, Head of BS Division; Choi Sang-gi, Secretary General of Company-wide Partners Association; Jung Dae-hwa, Director of Production Technology Institute. (Back row from left) Kim Jin-ho, Head of Purchasing Strategy; Kim Byung-su, Head of Co-growth; Park Ji-hong, Secretary General of VS Partners Association; Choi Seung-yoon, Head of HE Purchasing; Kim Chang-soo, Vice Chairman of HE/BS Partners Association; Kim Jong-pil, Head of Quality Management Center; Park Young-sook, Vice Chairman of H&A Partners Association; Lee Je-seung, Head of H&A Purchasing; Ha Sang-chae, Secretary General of H&A Partners Association; Choi Sung-soo, Head of VS Purchasing; Moon In-sik, Vice Chairman of VS Partners Association; Min Kyu-hyun, Secretary General of HE/BS Partners Association; Sun Woo-jin-ho, Head of BS Purchasing. LG Electronics

CEO Jo Joo-wan stated, "We must remain vigilant as the global business environment continues to be uncertain and market competition intensifies in this crisis situation. LG Electronics and our partners should join forces to overcome this by enhancing manufacturing competitiveness and accelerating innovation."

Partner companies unanimously agreed that 'win-win cooperation' is essential to respond to external threats. In particular, they reached a consensus on securing cost competitiveness and manufacturing competitiveness through close collaboration. Accordingly, partner companies committed to continuing efforts to improve productivity by linking automated and intelligent smart factories.

They also expressed their intention to strengthen cooperation in line with LG Electronics’ portfolio innovation and future businesses aimed at qualitative growth, working together to achieve the '2030 Future Vision.'

The Partner Association emphasized, "To stay ahead in competition and sustain future growth, thorough quality control and innovation in component quality are necessary," adding, "We will participate together in the journey toward LG Electronics’ 2030 Future Vision by enhancing manufacturing competitiveness."

LG Electronics actively supports the establishment of smart factories to enhance the manufacturing competitiveness of partner companies. On this day, partner company representatives visited the Smart Factory Expansion Center (SFAC) at LG Electronics’ Production Technology Institute, where they explored technologies applicable on-site to improve productivity, such as equipment and process management systems utilizing artificial intelligence (AI). Among these, partner representatives showed great interest in automated design and quality inspection solutions.

Meanwhile, the Partner Association is a voluntary consultative body formed by LG Electronics’ partner companies for mutual growth. Since 2013, LG Electronics has held regular general meetings and workshops with the Partner Association twice a year, in the first and second halves, to share annual goals and achievements and strengthen the spirit of coexistence.

During the workshop held on this day, LG Electronics also held an awards ceremony, selecting 10 partner companies that actively participated in manufacturing innovation and mutual growth efforts in areas such as cost, technology, and quality, and awarded a total prize money of 500 million KRW.