Editor
- Strategy features a strong offering of customer-centered innovations to build a better life for
all, and care for the environment - At ‘LG World Premiere’, CEO Cho Shared Vision for Innovation Designed to Make
Customers’ Lives Better - CEO also mentioned the company’s promise to increase the accessibility of LG’s products
and services to ensure easy use by the disabled and elderly. - LG looks to pursue 100% renewable energy by 2050, reduce greenhouse gas and drive market transformation through its innovations.
Running under the slogan Life’s Good, the blueprint was made public by LG electronics Global
CEO William Cho during the LG World Premier press conference held on the sidelines of the
ongoing CES 2023 exhibition.
It features a strong offering of customer-centered innovations to build a better life for all, and care
for the environment which is anchored on its 2030 ESG blueprint dubbed better life plan, and its
Better Plan blueprint that seeks to build accessibility, and easy use of LG’s products and services
by the disabled and elderly.
Speaking while rolling out the company’s vision, William Cho affirmed the company’s
commitment to take on new challenges in 2023 and beyond despite any uncertainties, noting that,
“LG has known and truly believed that the answer is always with the customer. The start and end
of all innovation are our customers, and it is with these innovations that we aim to put a smile on
their faces”.
The People
To provide new value to its customers, Cho highlighted upcoming ground-breaking customer-
centered innovations in its home electronics and appliances such as the LG OLED, which has changed customers’ viewing experience completely. He noted that the company is actively working with partners to introduce various new interactive services through LG TVs, including the online educational platform MasterClass, workout app MaxPro and metaverse service Sansar that will expand the customer experience and enable TV users to redefine the viewing experience. Now celebrating its 10th anniversary, LG OLED continues to set the industry standard for picture quality and unprecedented customer experiences.
Additionally, Mr. Cho also spoke about LG ThinQ UP, a new category of ‘evolving’ home
appliances offering unique upgradeability and personalization options. The premium lineup
includes revolutionary products like the LG refrigerator with MoodUP™, which can change color
to suit users’ tastes, mood, or kitchen décor.
While emphasizing the company’s focus to create a better future for all, Cho reiterated LGs
commitment as a responsible corporate citizen to realize a sustainable future. He mentioned the
company’s promise to increase the accessibility and easy use of LG’s products and services
by the disabled and elderly. This, as guided by feedback from LG’s ‘Disabled Advisory Group’ –
in operation since 2021 and comprised of members with varying abilities and accessibility experts
– the company is continuously introducing barrier-free products that can be conveniently used by
all.
“Our goal is to eliminate barriers at every stage of the customer experience This will include
developing product manuals that incorporate audio and sign language guides, distributing braille
stickers for appliances, and operating sign language counseling centers among others”. Said Cho
To complement this, LG currently runs the Global IT Challenge for Youth with Disabilities (GITC)
which, since 2011, has empowered more than 4,000 youth to build skills in technology to
eliminate the digital divide for persons with disabilities.
The Environment
To make a positive impact on people’s lives and the planet, LG electronics revealed its plan to put
people and the planet first which is at the heart of the new Better Life Plan 2030, LGs global
framework for Environmental Social and Governance that defines core ESG tasks and ESG led
management. On the environment agenda, LG aims to use 600,000 tons of recycled plastic by
2030 in its production process, an act that signifies its commitment to lead the way in
environmental sustainability and climate action. Over the next 7 years, LG plans to collect and
recycle another 4.5 million tons of e-waste. In the same breadth, LG expects to reduce carbon
emissions by 20 percent in its 7 major product categories through energy efficiency, even as it
aims to complete its transition to renewable energy by 2050.
Aligned with this, the CEO announced continuity in supporting the LIFE’S GOOD AWARD, an
innovation challenge set up by the company to promote its Life’s Good vision and empower
innovators eager to make a positive impact on people’s lives and the planet.
The Future
Moving into the future, CEO Cho shed light on the mobility sector, noting that the company has
joined hands with some of the world’s most-recognizable auto brands, leveraging its customer
insight from consumer electronics, advanced technologies, and diverse areas of expertise to drive
the in-vehicle experience forward. This has seen LG establish itself as one of the auto industry’s
preferred innovation partners with its vehicle component solution business, even as it broadens
its business portfolio to encompass new areas such as electric vehicle (EV) charging, digital
health, and content services for the webOS platform.
At the same time, the company is increasing investment in core ‘future’ technologies, including AI
and 6G, as well as collaborating with startups through LG NOVA (LG North American Innovation
Center).
Besides the mobility sector, Cho underlined the company’s aim to provide ‘First’, ‘Unique’, and
‘New’ experiences across all its products and solutions to provide a better life for all. To expand the customer experience in more various fields, the company is also operating various in-house programs to foster innovators, encouraging LG employees to bravely adapt to new challenges.
