[New Year’s Address] LG Energy Solution CEO Kim Dongmyung: "Productivity Up 30% by 2030... Securing Unrivaled Lead with ESS and AX"

Dongmyung Kim, President and CEO of LG Energy Solution, announced four key management tasks for the new year with the goal of "realizing customer value," and declared that the company will increase productivity by at least 30% through an artificial intelligence transformation (AX) by 2030. Kim emphasized the importance of securing leadership in the rapidly growing energy storage system (ESS) market and investing in "winning technologies" such as the 46 series and all-solid-state batteries, urging strong execution to target future markets.

Profile photo of Dongmyung Kim, President and CEO of LG Energy Solution. Photo by The Asia Business Daily Database

In his New Year’s address on January 5, Kim stated, "We will focus all our organizational capabilities on a single goal-'realizing the value that customers want'-and concentrate on the following four key tasks:" He outlined the following: ▲ Realizing the growth potential of the energy storage system (ESS) business ▲ Executing cost innovation ▲ Strengthening research and development (R&D) competitiveness ▲ Accelerating execution based on AX.

Regarding the ESS business, Kim said, "Demand for ESS is expanding faster than ever," and stressed, "We must expand ESS production capacity without disruption, and enhance our solution competitiveness by strengthening our differentiated capabilities in system integration (SI) and software (SW)."

Kim also stated, "Transitioning to AX is not a matter of choice but a critical requirement for survival," adding, "The company will prioritize applying artificial intelligence (AI) to the three core areas of product development, material development, and manufacturing operations, with the goal of improving productivity by at least 30% by 2030, and will focus on accelerating this timeline."

Furthermore, Kim said, "We will accelerate differentiation by focusing on 'winning technologies' that directly drive business results, such as dry electrodes, high-nickel (High-Ni) 46 cylindrical cells, and high-voltage mid-nickel (HV Mid-Ni) products." He continued, "We must also steadfastly pursue capabilities in the Energy Management Optimizer (EMO), which enhances available energy and remaining life prediction for ESS, as well as secure next-generation all-solid-state battery technology." He added, "To speed up the commercialization of differentiated technologies, we plan to strengthen our global R&D system tailored to the specific characteristics of each country."

In conclusion, Kim stated, "We will secure a clearer competitive edge in core products such as the 46 series cylindrical batteries for electric vehicles (EVs), HV Mid-Ni pouch cells, and prismatic lithium iron phosphate (LFP) batteries for ESS." He also said, "We must enhance structural cost competitiveness by improving material and processing costs through innovation in materials and processes, as well as through investments in raw material procurement and recycling."