LG Energy Solution CEO emphasizes qualitative growth

Kim Dong-myung, the newly appointed CEO of South Korean battery giant LG Energy Solution, on Friday vowed to execute winning strategies to lead qualitative growth and create a professional culture aimed at achievement.

“If the past three years were the era of LG Energy Solution 1.0 where we laid the foundation for quantitative growth and business, now is the time to make the era of LG Energy Solution 2.0 that results in qualitative growth by securing a dominant upper hand among the competition, based on strong execution,” said Kim in his inaugural message.

The CEO underlined the four pillars of the winning strategies that must be secured to lead qualitative growth: technology for unparalleled products and quality; cost competitiveness; customer loyalty; and innovation for future technology and business models.

“The raw materials market is highly volatile, as it is intertwined with various geopolitical issues,” he said, referring to securing cost competitiveness.

“It is important to create a structure where we can have competitiveness in the materials cost, even if we are exposed to outside risks. We also need to fundamentally secure cost competitiveness in terms of processing cost by introducing new technology.”

Kim said the company will work to continue pushing for future technologies such as lithium-sulfur battery and solid-state battery, adding that technological cooperation with other firms will be expanded to maintain leadership in the next-generation battery market.

In order to execute the winning strategies, the CEO called for the need to establish a professional culture that aims for achievements within the organization.

“We must become an organization that voluntarily looks for valuable work and fulfills its accomplishments,” he said.

“People who are self-motivated to better themselves take on a challenge with a goal under all circumstances. That is the professionalism our company seeks.”

Kim was appointed as the new CEO of LG Energy Solution last week. He has played a key role in securing joint venture deals with global carmakers in recent years.