Seoul: LG Electronics Inc. has unveiled a comprehensive business reorganization strategy aimed at enhancing its market competitiveness and fostering synergies as it targets a transformation into a "smart life solutions" provider by 2030. The company announced these changes on Thursday with the intent to bolster its core business operations and explore new growth opportunities.According to Yonhap News Agency, LG Electronics has restructured its existing four business divisions into newly defined units: Home Appliance Solution, Media Entertainment Solution (MS), Vehicle Solution (VS), and Eco Solution (ES). The MS division will focus on selling content through LG TVs, the VS unit will handle vehicle infotainment systems and other electronic components, while the ES division will concentrate on EV-charging and green-tech solutions, identified as potential growth areas.Further reorganization includes the formation of a dedicated business division for heating, ventilation, and air conditioning (HVAC) projects. This new division, separated from the home appliance segment, highlights HVAC as a critical growth pillar for LG Electronics, primarily driven by business-to-business deals.As part of the reshuffle, LG Electronics has promoted a total of 42 executives. Notably, Kim Young-lak, formerly executive vice president of the Korea Sales and Marketing Company, has been elevated to president of the domestic sales division effective January 1. Kim is recognized for his innovative approach in promoting the home appliance subscription model, which integrates product and service offerings across both domestic and international markets, leading to a significant shift in the competitive landscape of the home appliance sector.
- October 12, 2026
