LG Electronics (CEO Joo-wan Cho) announced its ambition to increase the proportion of qualitative growth sectors to more than 50% of total sales by 2030, solidifying its commitment to sustainable growth.

LG Electronics held its 23rd regular shareholders' meeting at the LG Twin Towers in Yeouido, Seoul on the 25th.

The main agenda items included approval of the 2024 financial statements, amendment of the articles of incorporation, election of directors, and election of audit committee members, all of which were passed as originally proposed.

LG Electronics' annual sales in 2024 are estimated at KRW 17.9406 trillion, operating profit at KRW 1.8234 trillion, and dividend per share is set at KRW 3,540, the same as the previous year.

At this year's general shareholders' meeting, a new simultaneous English interpretation service was introduced to increase understanding among overseas investors.

CEO Cho Joo-wan explained last year's management performance and this year's business direction in detail to shareholders. He emphasized that the "qualitative growth" sectors such as B2B, Non-HW (subscription services and platforms), and D2C (direct-to-consumer transactions) accounted for 42% of the company's sales and 71% of operating profit, and announced that the proportion of qualitative growth sectors would be expanded to more than 50% of total sales by 2030.

In particular, in the B2B business, we plan to maximize scalability based on customer relationships, and in the non-HW business, we plan to strengthen the circular revenue model to secure the structural soundness of the business.

In addition, we are pursuing a transition to a service business that combines various devices through platformization.

In response to the changing geography of the global economy, LG Electronics has presented expansion into emerging markets, referred to as the “Global South,” as a key strategy for this year.

The company announced plans to actively utilize the growth potential in Asia, Central and South America, the Middle East and Africa, including India, and to strengthen its specialized product lineup and R&D capabilities based on the local infrastructure built over 28 years in India in order to leap forward as a “national brand.”

Each business division head explained the company's growth direction through individual strategies.

HS Business Division plans to expand its built-in and subscription business combining home appliances and B2B overseas and focus on its AI home solution business.

MS Business Division expands display and entertainment platform business centered on TV and webOS.

The VS Division will focus on solid operations as it transitions to software-defined vehicles (SDVs), while the newly established ES Division plans to grow into a core axis of the company's B2B business with air conditioning and industrial HVAC technologies.

CEO Cho Joo-wan said, “We are moving away from the existing home-centered growth model and expanding our B2B and global business.He said, “We will establish a foundation for future growth,” and “We will accelerate qualitative growth and create sustainable growth and new values through the Global South strategy.”