LG Announces Organizational Changes to Drive Future Vision 2030
LG Electronics has unveiled a comprehensive restructuring plan, including new organizational changes and executive appointments, aimed at accelerating its Future Vision 2030 strategy. The initiative seeks to enhance synergy across LG’s business operations, strengthen platform-based services, expand B2B initiatives, and secure growth in emerging sectors.
Key Changes in Business Structure
To optimize efficiency and focus, LG has regrouped its business operation units, now known as “Companies,” into four divisions:
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Home Appliance Solution (HS) Company:
- Formerly the H&A Company, this division will focus on advancing AI-driven solutions in home, commercial, and automotive environments.
- The Platform Business Center, managing LG ThinQ, and the Robot Business Division will now operate under HS Company.
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Media Entertainment Solution (MS) Company:
- Formerly the HE Company, this division will integrate TV, Information Display, and Information Technology businesses to enhance synergies in hardware and platforms.
- Expansion of webOS into new domains, including monitors, signage, and in-vehicle infotainment systems, will be a core priority.
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Vehicle Solution (VS) Company:
- The renamed Vehicle component Solutions Company will focus on providing comprehensive automotive solutions, emphasizing innovation across the automotive ecosystem.
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Eco Solution (ES) Company:
- This newly established division will independently manage the HVAC business, previously part of the H&A Company, and the electric vehicle charging business.
- The ES Company will play a pivotal role in LG’s B2B growth strategy, focusing on clean tech solutions to position LG as a global leader in air and energy solutions.
Strategic Enhancements
LG is restructuring its Overseas Sales & Marketing Company as a B2B control tower and creating a new B2B Business Capability Enhancement Division to strengthen overseas operations. The Chief Strategy Office (CSO) will oversee AI acceleration initiatives, supported by the newly formed DX Center, which will focus on integrating generative AI technologies to enhance business performance.
Executive Appointments
LG has promoted leaders with proven expertise in sales, services, and R&D, effective December 1. Key appointments include:
- Jung Pil-won as MEA Region Representative, leveraging extensive experience in Middle Eastern and African markets.
- Prominent promotions of subsidiary leaders in Saudi Arabia, Poland, and Malaysia, recognizing their contributions to business growth.
Vision for the Future
These changes, effective December 1, 2024, reflect LG’s strategic focus on becoming a Smart Life Solution provider, addressing diverse customer needs across homes, commercial spaces, mobility, and virtual platforms. The restructuring emphasizes LG’s commitment to innovation, operational efficiency, and global competitiveness as it advances its Future Vision 2030 strategy.
