LG Display Jeong Cheol-dong “Performance turnaround is an urgent priority, driven by cost innovation”

[비즈니스포스트] Jeong Cheol-dong, the newly appointed CEO of LG Display, showed his determination to turn the business into a surplus with his inauguration.

In his inauguration message to all executives and employees as he began his official duties on the 1st, President Chung said, “Performance turnaround (recovery) is the most urgent priority,” and “To this end, we must thoroughly complete the business promised to customers and make sure to achieve the planned goals.” “It’s important,” he emphasized.

He said, “We will put a strong drive in cost innovation across the business,” and “We will communicate as much as possible in the field and make improvements in order to build a solid company from the most basic elements of corporate competitiveness such as quality, price, and delivery date.”

LG Display recorded operating losses for six consecutive quarters from the second quarter of last year to the third quarter of this year. As of the third quarter of this year, the cumulative operating loss amounted to approximately 2.64 trillion won.

President Chung joined LG Semiconductor in 1984 and served as managing director in charge of production technology at LG Philips LCD, the predecessor of LG Display. He also served as managing director of the production technology center, executive director of the production technology center, and vice president as chief production officer (CPO) at LG Display. .

Afterwards, he worked as the president of LG Chem’s information and electronic materials business division, and was selected as the CEO and president of LG Innotek in 2018, but moved to LG Display at this year’s end.

President Jeong said, “I am back after 7 years. I feel a heavy sense of responsibility as I have been entrusted with such an important task at a time when the company has been experiencing difficulties for several years.”

He said, “We are well aware of the hardships and fatigue of our members due to the prolonged worsening of management,” and added, “We will think about and concretely implement ways to ensure that executives and employees feel proud as members of LG Display and can work with confidence.” Reporter Baram Kim