LG Electronics headquarters in Yeongdeungpo-gu, Seoul. Yonhap News
LG Electronics has begun mapping out strategy for new businesses such as robotics and artificial intelligence (AI), gathering company-wide executives under the leadership of Chief Executive Officer Ryu Jae-cheol.
LG Electronics (066570.KS) held a company-wide expanded management meeting on the 16th, chaired by CEO Ryu, according to industry sources. About 300 people attended either on-site or online, including executives from headquarters and business units, as well as overseas regional heads and local subsidiary chiefs.
The expanded management meeting is a session where LG Electronics executives at home and abroad review business conditions and strategic direction. The meeting is held twice a year, in the first and second halves.
At this meeting, LG Electronics plans to discuss ways to accelerate preparations for future businesses such as robotics, AI data centers, smart factories, and AI Home, and to strengthen competitiveness. Amid continued uncertainty in the business environment, the company decided to look back on the first half, in which it posted record earnings, and to review its business strategy for the second half.
LG Electronics also plans to hold a session to share cases from each organization from the perspective of CEO Ryu’s management philosophy of “revealing problems” and “winning execution.”