LG Electronics CEO travels to Southeast Asia to further market dominance

LG Electronics Chief Executive Officer Cho Joo-wan traveled to Vietnam, Indonesia and Thailand last week to inspect the company's key production facilities in Asia, the Korean consumer appliances giant said on Sunday.

On the three-day tour, Cho met with the heads of the company's regional corporations and discussed ways to boost competitiveness and further dominance in the global market, LG said. The CEO also inspected the key plants that produce automotive parts, home appliances and TVs there.

“We should strengthen the business operation method that has been optimized for each country, and provide the world’s best class 'QCD' -- quality, cost and delivery -- to boost market dominance, and at the same time, reinforce the foundation for sustainable growth," Cho told the chiefs and staff of the regional corporations, according to LG.

“Let’s pioneer the future by taking on challenges and explore innovation, with the belief that opportunity comes from excellent customer experience.”

Seeing great potential for growth, LG Electronics has set Asia as its strategic region and plans to expand its market presence there. The tech giant said it achieved over 7.8 trillion won ($5.93 billion) in sales in Asia last year. The conglomerate has been witnessing two-digit growth rates in the past two consecutive years, it added.

Cho's first stop was Vietnam. On April 3, the tech giant chief held a management meeting in Ho Chi Minh with the heads of LG's regional corporations in Asia, LG said.

Cho and the officials discussed in depth the ways to make production efficient, mass production of new products, quality management, costs and cooperation with partner companies.

“If a quality problem occurs in the process of production, it is important to boldly address the issue and quickly find the solution and raise the quality competitiveness,” Cho said.

“We should raise productivity, not only by strict management in material mobilization, but also by expanding systematic training to boost the capabilities of staff and efficient management of personnel,” Cho added.

On Tuesday, Cho traveled to Rayong in Thailand to inspect the plant that produces home appliances such as laundry machines and air conditioners. He then moved to Jakarta in Indonesia on Wednesday to check the Cibitung TV manufacturing plant and Tangerang facility that produces refrigerators, LG said.

The tech giant is working to introduce advanced technologies such as artificial intelligence, big data and 5G to establish environment-friendly smart factories, and Cho also reviewed the progress, the company added.

Since the beginning of this year, Cho has been traveling around the globe to oversee the company’s global management situation, as he sees the needs to cope with the fast-changing industry environment and market trends to bolster business competitiveness, LG said.

In January, Cho went to the US to participate in the CES trade show in Las Vegas. In February, the tech giant chief attended Integrated Systems Europe, the world’s largest exhibition for displays that took place in Spain, and also AHR Expo, an exhibition on the heating, ventilating, air conditioning and refrigeration market in the US.

He also inspected the company’s key regional headquarters in Mexico, Brazil, Chile and Australia in March.