LG chairman urges execs to define future of customer experience

LG Chairman Koo Kwang-mo (left, front row) is seen at a workshop with LG executives in Gwangju, Gyeonggi Province, Thursday. (LG Corp.)

LG Group Chairman and Chief Executive Officer Koo Kwang-mo called on some 30 executives across Korea's fourth-largest business group to define the future of customer experience, and the start of it could be identifying who their future customers will be.

"LG's key to having an upper hand in the future lies in our unique customer experience, products, solutions and brand value," Koo told executives at a workshop with executives on Thursday in Gwangju, Gyeonggi Province.

"Thinking from future customers' point of view is of utmost importance as we decide future directions. We should be pushing ourselves harder to identify who our customers will be in the future and what they really want, as our job is to address them by creating new values. That's the start of preparing for the future."

The remark came as the 44-year-old business tycoon met with heads of LG affiliates and business divisions to inspect their long-term direction to boost corporate value over the next five to 10 years, according to the holding company, LG Corp., on Friday. The event was the first to be held offline since 2019.

"The tough time should not let us lose our direction," Lee told the executives. "We should make strong decisions for the future on our own with a sense of self-motivation and passion."

This is consistent with previous messages extended by Koo, who took office as chairman in June 2018. In December, Koo at his New Year's speech for 2022 stressed a customer-centric approach, calling on staff and executives to touch customers' hearts and let them experience valuable moments with LG's products.

LG Group has focused on consumer electronics ranging from TVs and monitors to laptops and other home appliances, as well as batteries for electric vehicles and various electronics components. In May, LG unveiled a spending package of 106 trillion won ($74.1 billion) from 2022 through 2026 in the fields of batteries, biotechnology, artificial intelligence and environmental technology.