The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    Revenge rises as key theme in K-dramas

  • 3

    Zebra captured after escaping from Seoul zoo

  • 5

    Sexual assaults by Korean diplomats continue despite zero-tolerance policy

  • 7

    Outback Steakhouse sees sales soar as it opens stores in large shopping malls

  • 9

    Samsung, SK avoid worst-case scenario as US 'guardrails' are less stringent than feared

  • 11

    Korean pension fund hit by overseas banking crisis

  • 13

    Childbirths sink 6% to fresh low in January

  • 15

    Campaign launched to promote equal treatment for multicultural families

  • 17

    Hyundai Heavy achieves world's first 200 million BHP milestone

  • 19

    INTERVIEWRetired FSC chief finds inspiration exploring Koreans' ancestral roots

  • 2

    Consumers choose to travel abroad over purchasing luxury goods

  • 4

    Korean firms balk at donating to fund compensating victims of Japan's forced labor

  • 6

    World water day

  • 8

    Main opposition leader indicted, faces calls to resign

  • 10

    Jeon Jong-seo discusses her first Hollywood role in 'Mona Lisa and Blood Moon'

  • 12

    Apple working on expanding Apple Pay service in Korea: senior executive

  • 14

    INTERVIEWKorean adoptee in Germany reunites with birth family after 42 years

  • 16

    Investment banks compete for HMM sale advisory roles

  • 18

    Sandstorm from China forecast to push up fine dust levels in Korea

  • 20

    Opposition leader indicted over development corruption scandal

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
Business
  • Tech
  • Bio
  • Companies
Fri, March 24, 2023 | 04:48
Tech
LG takes lead in advanced technologies
Posted : 2014-08-26 17:22
Updated : 2014-08-26 22:42
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
LG Electronics China President Shin Mum-beom, left, holds an LG G3 smartphone with Lee Min-ho, a Korean actor and an ambassador for LG mobile devices, during a launch event for the product for China at the Westin Hotel, Beijing, Aug. 8. / Korea Times file
LG Electronics China President Shin Mum-beom, left, holds an LG G3 smartphone with Lee Min-ho, a Korean actor and an ambassador for LG mobile devices, during a launch event for the product for China at the Westin Hotel, Beijing, Aug. 8. / Korea Times file

By Kim Yoo-chul

LG Group is pulling off an impressive rebound from a recent business slowdown as its major affiliates are producing tech-driven, market-leading goods.

Emerging from years of struggles, the group as a whole is apparently opening a new chapter in its corporate history.

The turnaround was possible as Chairman Koo Bon-moo has been consistent in urging workers to return to the basics of a tech-driven corporation.

Koo is the eldest grandson of LG founder Koo In-hoi and has been in his post since 1995. He is credited with boosting the group's sales more than fivefold and its market capitalization rate more than 11-fold during the years he has been at the helm of the group.

"We have no doubt that this year will be very impressive on the back of the stronger performance of LG affiliates," the company said in a statement.

It said the chairman' consistent commitment to technology had been paying off.

LG said it would accelerate its efforts to introduce more market-leading products in the second half of the year.

"LG has emerged as a new game-changer in a number of fields. LG Electronics' latest flagship, the G3 smartphone, will exceed the 10 million sales mark for the first time since we entered the smartphone industry," the statement said.

At the same time, LG Chem has expanded strategic partnerships with top carmakers, including General Motors and Audi, to supply them car batteries.

LG Display, the world's top supplier in displays and one of the group's critical cash-generators with LG Chem, has also boosted its profits. Its on-time response toward premium displays that support ultra-high--definition viewing quality under OLED screens has begun yielding sizable returns.

LG Display will operate a new OLED panel-manufacturing line at its display complex in Paju, on the outskirts of Seoul, in the latter half of the year.

The group's telecommunications affiliate, LG Uplus, has increased its investments in faster wireless networks that support long-term evolution (LTE)-advanced speeds.

"LG's technology affiliates will expand the number of countries for increased sale of tech-enriched products. We are also trying to help improve the local economy," said the statement.

Analysts are also positive about the group units' outlook.

CIMB Securities revised up its target on LG Innotek shares by 10 percent, citing the warm response to LG's G3 smartphones. Innotek is the parts affiliate of LG Group.

Its target on LG Uplus shares is now at 11,300 won, from 9,300 won.

SK Securities raised its target on LG Display stock to 40,000 won from 35,000 won.

IBK Securities advised its clients to buy more LG Electronics stock, raising its target price to 91,000 won from 87,000 won.

LG Group is communicating more with its affiliates on pending issues as the chairman believes corporate sustainability will come from closer cooperation.

"Amid the industry's convergence moves, LG units are teaming up for balanced and shared growth. We are ideally positioned to foster the next business territories, such as automotive solutions, as LG Electronics, LG Innotek and LG Display can use LG Chem-owned battery channels to export more car solutions," LG spokesman Terry Taekyung Lee said.

Another reason things are improving for LG is it is seemingly safe from a possible management feud within the family ownership _ a common problem for Korean conglomerates.

LG markets itself as "the first major Korean corporation to introduce a holding company structure with advanced corporate governance.''

In 2003, LG became LG Corp. _ an American-style holding body for LG's various businesses.

"Thanks to the system, LG affiliates can focus on their jobs. Coupled with market recovery, the system is helping the group strengthen its global competitiveness,'' said Lee.


Emailyckim@koreatimes.co.kr Article ListMore articles by this reporter
 
Top 10 Stories
1[INTERVIEW] Korean adoptee in Germany reunites with birth family after 42 years INTERVIEWKorean adoptee in Germany reunites with birth family after 42 years
2Retailers rush to adopt Apple Pay system Retailers rush to adopt Apple Pay system
3Will exempting foreign nannies from minimum wage boost Korea's birth rate? Will exempting foreign nannies from minimum wage boost Korea's birth rate?
4[INTERVIEW] Expert pitches Laotian rural reform to solve NK's chronic food shortages INTERVIEWExpert pitches Laotian rural reform to solve NK's chronic food shortages
5Daughter of North Korean dictator seen wearing $1,900 Dior jacket Daughter of North Korean dictator seen wearing $1,900 Dior jacket
6[INTERVIEW] Forbes-listed entrepreneur pursues partnerships with Samsung, LG, SK to help Ukraine INTERVIEWForbes-listed entrepreneur pursues partnerships with Samsung, LG, SK to help Ukraine
7Indonesian students advise Korean bank on entering Indonesian market Indonesian students advise Korean bank on entering Indonesian market
8[INTERVIEW] 'Welcome to world of art therapy' INTERVIEW'Welcome to world of art therapy'
9Will Apple Pay launch boost local iPhone sales? Will Apple Pay launch boost local iPhone sales?
10Korea to start mass production of KF-21 in 2024 Korea to start mass production of KF-21 in 2024
Top 5 Entertainment News
1Revenge rises as key theme in K-dramas Revenge rises as key theme in K-dramas
2Jeon Jong-seo discusses her first Hollywood role in 'Mona Lisa and Blood Moon' Jeon Jong-seo discusses her first Hollywood role in 'Mona Lisa and Blood Moon'
3SF9's Jaeyoon starts mandatory military service SF9's Jaeyoon starts mandatory military service
4Yoo Yeon-seok threatens to sue people spreading accusations about him Yoo Yeon-seok threatens to sue people spreading accusations about him
5Lee Som, Ahn Jae-hong to play married couple in Tving's new series Lee Som, Ahn Jae-hong to play married couple in Tving's new series
DARKROOM
  • Turkey-Syria earthquake

    Turkey-Syria earthquake

  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group