LG Electronics Shares 3 Key Priority Tasks for 2019
Samsung Electronics to leap forward as a 100-year company with a super-gap


Leaving behind the eventful year of 2018, we welcomed the New Year of 2019. Samsung Electronics and LG Electronics, the two leading domestic home appliance manufacturers and world-renowned global companies, held their New Year's kick-off ceremonies and encouraged their employees to explore future growth engines.


"Let's take on challenges even if we fail": LG Electronics changes organizational culture
LG Electronics CEO and Vice Chairman Cho Seong-jin emphasized at the New Year's kickoff ceremony held at LG Twin Towers in Yeouido, Seoul on the 2nd, "Let's provide the value of a better life to customers based on innovative technology and leap forward as a continuously growing company through growth and change."
Vice Chairman Cho stated that in order to continuously provide the value of a better life and achieve sustainable growth, "all employees must have unique thinking in their respective fields, challenge the impossible, define the golden time for competition, and demonstrate their best capabilities."

Vice Chairman Cho announced key initiatives that also served as his New Year's address. The three points are: transitioning to a profitability-based growth-driven business, proactively preparing for the future including AI, robots, autonomous driving, 5G, big data, and cloud, and building an organizational culture that takes on challenges even if it means failure.

Vice Chairman Cho presented providing value that exceeds customer expectations as the guiding principle and emphasized the strong drive for 'growth' and 'change' to achieve this.

Regarding growth, Vice Chairman Cho stated, "Let us focus on maximizing profits in our core businesses while thoroughly considering and implementing efficient methods for generating revenue," adding, "We will establish a foundation for growth by concentrating resources secured through efficiency improvements on incubation businesses."

Regarding change, Vice Chairman Cho stated, "Now is the time for fundamental change to achieve growth," and urged, "Let's build an organizational culture that encourages challenges, even if it leads to failure."

Finally, Vice Chairman Cho emphasized that "quality, safety, environment, and ethical management are the foundations of management for growth and change," and urged that they be applied to all aspects of business and thoroughly implemented.


Samsung Electronics looks ahead to the next 50 years on its 50th anniversary
Samsung Electronics held its New Year's kick-off ceremony on the 2nd at Samsung Digital City in Suwon, attended by approximately 500 executives and employees, including Vice Chairman Kim Ki-nam, President Kim Hyun-suk, and President Koh Dong-jin.
In his New Year's address, Vice Chairman Kim Ki-nam said, "2019 is a meaningful year as Samsung Electronics marks its 50th anniversary," adding, "Just as we overcame the global economic crisis 10 years ago and leaped forward as a world-class IT company, let us make this year an opportunity to leap forward as a world-class, unrivaled 100-year company."

To this end, Vice Chairman Kim urged, "We must build a foundation for sustainable future growth by actively fostering new growth businesses with next-generation products and innovative technologies, fostering a corporate culture that encourages constructive failure, and making bold challenges and investments in new technologies."

Citing the four-character idiom 'Fabgochangsin,' which means to build upon the old while knowing how to transform it, and to create something new without losing the fundamentals, Vice Chairman Kim emphasized, "Let's further solidify the foundation of our existing businesses by reviewing the entire process, including development, supply, and customer management."

Vice Chairman Kim said, "The journey toward becoming a world-class 100-year company has begun," and urged, "If Samsung Electronics has been a part of the history of the IT industry for the past 50 years, let us make Samsung Electronics the center of the next 50 years."

He also encouraged employees to "participate more actively in social contribution activities to practice mutual growth and sharing."