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[Alpha Biz=(Chicago) Reporter Kim Jisun] Cho Joo-wan, president of LG Electronics, held a press conference at LG Science Park in Gangseo-gu, Seoul today (12th) to announce his future vision and mid- to long-term business strategy.
Financially, the goal is to invest 50 trillion won by 2030 to achieve 'triple 7' (annual average growth rate, operating profit ratio of more than 7%, corporate value of more than 7 times).
It said it will increase its sales from 65 trillion won (excluding LG Innotek) last year to 100 trillion won by 2030.
Specifically, we plan to invest more than 25 trillion won in research and development, more than 17 trillion won in facility investment, and 7 trillion won in strategic investment.
As of the end of this year, more than 200 million smart TVs are based on this system.
To this end, we plan to invest more than 1 trillion won over five years to strengthen the content competitiveness of LG Channel, a free broadcaster.
We plan to increase the supply of webOS platforms to external TV brands and expand the application to other products besides TVs.
Household appliances will further develop 'UP home appliances' that upgrade their functions after purchase, and will aim for 'Home as a Service' that combines subscription and smart home.
The B2B business is planned to grow on the axis of electric fields and heating and cooling (HVAC).
In the case of the electronics business, the company plans to double its sales by 2030 to become a global top 10 company worth 20 trillion won.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
