Koo Kwang-mo, LG Chairman: "Increasing Uncertainty in Business Environment... Prioritizing Customer Value"

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[Asia Economy Reporter Jin-ho Kim] Koo Kwang-mo, Chairman of LG Group, stated on the 29th, "The recovery of daily life from COVID-19 has been delayed, and the uncertainty of the global business environment has become higher than ever."

In his greeting at the regular shareholders' meeting of LG Corporation held at the LG Twin Towers in Yeouido, Seoul, Chairman Koo evaluated, "Last year, the prolonged COVID-19 pandemic, supply chain instability, and global hegemony competition increased internal and external uncertainties, resulting in a continued difficult business environment."

Chairman Koo emphasized, "Last year, LG focused unwaveringly on 'customer value management' to enhance the core competitiveness of its business. We have restructured non-core businesses and concentrated our capabilities on growth businesses to advance our business portfolio, while also strengthening competitiveness for future growth such as artificial intelligence (AI) and digital transformation (DX)."

He added that this year, uncertainty in the global business environment is also increasing, saying, "We will prioritize customer value above all and respond agilely to changes. Through a deeper understanding of customers and close communication, we will accelerate LG's unique customer experience innovation."

Furthermore, he stated, "We will accelerate the qualitative growth of our business portfolio and continuously advance it by discovering new future growth engines such as artificial intelligence (AI) and healthcare."

Meanwhile, Chairman Koo's greeting was read by LG Chief Operating Officer (COO) Vice Chairman Kwon Bong-seok. All agenda items presented at the shareholders' meeting were approved as originally proposed, including profit dividends (2,800 KRW per common share) and the appointment of inside directors.

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