Latest news with #KooKwang-mo
Time of India
6 hours ago
- Automotive
- Time of India
LG Group Chairman visits Indonesia to boost battery manufacturing amid EV demand slowdown
LG Group Chairman Koo Kwang-mo visited Indonesia this month to assess the group's battery manufacturing and research operations, aiming to bolster competitiveness amidst a temporary decrease in global electric vehicle demand. He inspected Hyundai LG Indonesia Green Power , a joint venture with Hyundai Motor Group, and LG Electronics' production and research complex, emphasising collaboration and understanding market dynamics in Southeast Asia. The visit underscores LG's focus on the Global South to leverage growth opportunities in emerging markets. Koo's visit to Indonesia highlights LG's commitment to strengthening its position in the electric vehicle battery market. The trip comes at a time when the global demand for EVs is experiencing a slowdown. LG aims to use this opportunity to enhance its competitive edge. A key part of Koo's itinerary was a tour of Hyundai LG Indonesia Green Power. This joint venture between LG Energy Solution and Hyundai Motor Group is located near Jakarta. The facility spans 320,000 square metres. The plant has an annual capacity of 10 gigawatt-hours. It is Indonesia's first EV battery cell plant. It is also a crucial element in LG's global battery production network . Koo's address to employees During his visit to the facility, Koo addressed employees, urging them to concentrate on establishing distinct competitive advantages for LG's batteries. He also stressed the importance of working closely with partners. Koo also toured LG Electronics' production and research complex in Cibitung, West Java. This complex manufactures products such as TVs, monitors, and signage systems. LG Electronics established a local research unit next to the Cibitung plant in 2023. This has created an integrated base connecting research, production, and sales operations. The company intends to use this base to target the broader Southeast Asian market. LG has been increasing its efforts to capitalise on growth opportunities in the Global South, including India, Indonesia, Latin America, the Middle East, and Africa.
Korea Herald
6 hours ago
- Automotive
- Korea Herald
LG chief doubles down on EV battery push with Indonesia visit
From batteries to TVs, Koo Kwang-mo outlines LG's five-year strategy during India, Indonesia site tours LG Group Chairman Koo Kwang-mo reaffirmed the conglomerate's commitment to growing its battery businesses as he visited HLI Green Power, a 50:50 battery joint venture by LG Energy Solution and Hyundai Motor Group in Indonesia, earlier this month. According to LG on Monday, Koo toured the battery cell production line at HLI Green Power and highlighted the need for solidarity and cooperation with partners to break through a stalled electric vehicle market. Located in Karawang, West Java, as the country's first EV battery manufacturing plant, HLI Green Power began operation in April last year with an annual production capacity of 10 gigawatt-hours, which is enough to power about 150,000 EVs. The joint battery plant posted a 96 percent yield rate within four months of the start of mass production. The LG chief called on the employees at the battery joint venture to gain a competitive edge and stand out in the market. Commemorating his visit, Koo wrote on a battery cell product that he hopes the battery foothold will become 'the heart of future mobility.' The visit to HLI Green followed Koo's remarks during a shareholders' meeting in March where he emphasized that LG will nurture the battery industry as a key business for itself and a future core industry for Korea. He previously visited an Ultium Cells factory, an EV battery joint venture between LG Energy Solution and General Motors, in Tennessee in June last year. 'Although the EV chasm is lasting longer than expected and the competition (with Chinese battery makers) is heating up, (Koo's visit) shows his determination to thoroughly prepare for (post-EV-chasm) times even at a moment like this,' said an LG official. The LG chief then visited LG Electronics' production and research and development offices as well as local retail stores for home appliances in Cibitung, West Java, to review the overall value chain. LG Electronics -- which produces TVs, monitors and signage at its Cibitung site for Asia, the Middle East and Africa -- established an R&D office near the Cibitung plant to mark the area as an outpost targeting the Indonesian and Southeast Asian markets. During his visit to the Cibitung plant, Koo inspected an autonomous production line for TVs and discussed LG Electronics' global R&D operational strategies for the future. The LG leader also went to Electronic City, a local retail store, to check the sales performance of LG Electronics' products, receive customer feedback about regional products, and inspect Chinese rivals' market strategies in the Southeast Asian home appliances market. 'While it is important to respond to competition, which is getting fiercer right now, we need to come up with strategies for our survival five years from now and identify the decisions we should make and where we should focus to secure our distinctive competitiveness,' said Koo in a meeting with local LG Electronics executives and employees in Jakarta.
Korea Herald
10 hours ago
- Automotive
- Korea Herald
LG chief visits Indonesia battery plant to inspect group's EV transition efforts
LG Group Chairman Koo Kwang-mo has visited Indonesia this month to inspect the group's battery manufacturing and research operations, according to the group Monday, underscoring efforts to strengthen its competitiveness amid a temporary slowdown in global electric vehicle demand. According to group officials, Koo toured the production lines of Hyundai LG Indonesia Green Power, a joint venture between LG Energy Solution and Hyundai Motor Group, located near Jakarta, earlier this month. The 320,000 square-meter facility, with an annual capacity of 10 gigawatt-hours, is Indonesia's first EV battery cell plant and is a key pillar in LG's global battery production network. During the visit, Koo called on employees to focus on securing differentiated competitiveness for LG's batteries, particularly in comparison with global rivals, and emphasized the importance of close collaboration with partners to overcome the slowdown in global EV demand growth. As part of the visit, the LG chief also toured LG Electronics' production and research complex in Cibitung, West Java, where products such as TVs, monitors and signage systems are manufactured. Since establishing a local research unit next to the Cibitung plant in 2023, LG Electronics has built an integrated base that connects research, production and sales operations, using it as a base for targeting the broader Southeast Asian market. At LG Electronics' Jakarta sales office, Koo met with local executives to discuss customer needs, distribution trends and competitive dynamics in Southeast Asia. LG has been ramping up efforts to tap into growth opportunities in the so-called Global South that includes India, Indonesia, Latin America, the Middle East and Africa, seeking to ride the economic momentum in these emerging markets. (Yonhap)
Korea Herald
10-04-2025
- Business
- Korea Herald
LG unveils hall of fame to celebrate customer-driven innovation
LG Group has inaugurated a hall of fame honoring life-changing innovations the conglomerate has achieved -- a symbolic gesture encapsulating Chair Koo Kwang-mo's management philosophy of prioritizing customer value. The new installation was unveiled at the LG Academy in Icheon, Gyeonggi Province, during the 2025 LG Awards on Wednesday. It serves not only as a tribute to past recipients of the prestigious award, but also as a cultural beacon to inspire innovation and a customer-centric focus across the conglomerate's workforce. 'By bringing together the efforts of innovation accumulated over the years, we have established this hall of fame here at LG Academy,' the chairperson said at the event. 'The names and achievements inscribed here will serve as a guidebook and catalyst for many LG employees, inspiring challenge and passion.' Koo reaffirmed the company's commitment to sustainable innovation, emphasizing, 'The journey toward creating distinctive future value will continue. The most important standard that must always be prioritized is the customer. Let us evolve LG's DNA of challenge and transformation, create new firsts and bests and shape a future where LG is even more loved by customers.' Established in 2019 following Koo's succession, the LG Awards honor teams and individuals who have driven customer experience innovation through breakthrough products and services. Over the past seven editions, the awards have recognized 492 teams and over 4,000 employees. The hall of fame displays plaques commemorating recipients of its "Grand Prize for Customer Delight." LG also plans to install dedicated award zones within its group affiliates, including renaming key meeting rooms after grand prize winners to foster pride and motivation among employees. Award winners receive cash prizes and opportunities to attend overseas workshops for further development. 'While there are numerous strategic considerations amid growing global uncertainties such as tariff barriers, the foremost priority remains unwavering commitment to customer-driven innovation,' an LG Group official said. This year's LG Awards honored 87 teams and 680 individuals, including three grand prize winners for customer delight, along with 39 for customer satisfaction and 45 for customer empathy. The evaluation process was broadened to reflect diverse customer voices -- from homemakers and professionals to foreign nationals, millennials and Generation Z. Employee participation in the judging process also increased from 10,000 last year to 14,000 this year, indicating deepening internal engagement. yeeun@
Korea Herald
10-04-2025
- Business
- Korea Herald
LG unveils hall of fame to celebrate customer-driven innovation
LG Group has inaugurated a hall of fame honoring life-changing innovations the conglomerate has achieved -- a symbolic gesture encapsulating Chair Koo Kwang-mo's management philosophy of prioritizing customer value. The new installation was unveiled at the LG Academy in Icheon, Gyeonggi Province, during the 2025 LG Awards on Wednesday. It serves not only as a tribute to past recipients of the prestigious award, but also as a cultural beacon to inspire innovation and a customer-centric focus across the conglomerate's workforce. 'By bringing together the efforts of innovation accumulated over the years, we have established this hall of fame here at LG Academy,' the chairperson said at the event. 'The names and achievements inscribed here will serve as a guidebook and catalyst for many LG employees, inspiring challenge and passion.' Koo reaffirmed the company's commitment to sustainable innovation, emphasizing, 'The journey toward creating distinctive future value will continue. The most important standard that must always be prioritized is the customer. Let us evolve LG's DNA of challenge and transformation, create new firsts and bests and shape a future where LG is even more loved by customers.' Established in 2019 following Koo's succession, the LG Awards honor teams and individuals who have driven customer experience innovation through breakthrough products and services. Over the past seven editions, the awards have recognized 492 teams and over 4,000 employees. The hall of fame displays plaques commemorating recipients of its "Grand Prize for Customer Delight." LG also plans to install dedicated award zones within its group affiliates, including renaming key meeting rooms after grand prize winners to foster pride and motivation among employees. Award winners receive cash prizes and opportunities to attend overseas workshops for further development. 'While there are numerous strategic considerations amid growing global uncertainties such as tariff barriers, the foremost priority remains unwavering commitment to customer-driven innovation,' an LG Group official said. This year's LG Awards honored 87 teams and 680 individuals, including three grand prize winners for customer delight, along with 39 for customer satisfaction and 45 for customer empathy. The evaluation process was broadened to reflect diverse customer voices -- from homemakers and professionals to foreign nationals, millennials and Generation Z. Employee participation in the judging process also increased from 10,000 last year to 14,000 this year, indicating deepening internal engagement.
