Greetings to our respected stakeholders,
We would like to express our heartfelt gratitude for your continued support and trust in our company.
Last year, we faced a tough internal and external business environment due to the stagnant low growth rate of the domestic economy as well as the U.S.-China trade war and political conflicts between Korea and Japan that have not yet reached a consensus. Nevertheless, LG H&H achieved meaningful performance gains.
The performance of our premium cosmetic brands hit a record high, while our household goods and beverage divisions solidified their top positions in the market.
In addition, we successfully acquired NewAvon, a North American company, ensuring a bridgehead to the market in the Americas. Given the growing economic uncertainty caused by the COVID-19 pandemic across the world from earlier this year, we have
encountered even harsher conditions with the
continued economic slump in Korea and increasingly
complex business environment at home and abroad.
Still, we believe that we are capable of overcoming
any difficulty if all LG H&H employees think from the
perspectives of customers and show their capacity
to the fullest extent.
LG H&H is on the threshold of
becoming a global company beyond the Asian market.
For a successful start, we will upgrade our business
structure with a focus on the following aspects and
strengthen our capability to build global competitiveness.
First, we will grow from an Asia-centric company to a true global company.
LG H&H runs businesses with a high potential for expansion in the market and subsequent sustainable growth. To transform into a truly global company, we will expend our full energy and maintain a successful global business, accelerating a safe landing in the market in the Americas. Moreover, we will initiate digital transformation and build capacity for future businesses to solidify the foundation for stepping into the global market and increasing our competitiveness.
Second, we will build the world’s highest competitiveness across the entire value chain.
To become a global company, we will achieve capacity and competitiveness comparable to those of leading companies across all aspects of the value chain. In particular, we will focus our capability on applying the latest trends including microbiome and genetic analysis technologies to proactively provide our customers with new values that they have never experienced before. Furthermore, we will ensure high safety and quality based on international standards as well as a capacity for safety verification against harmful substances in accordance with the criteria of international certifications.
Third, we pledge to defend justice and become a dynamic company
Now is the time for LG H&H to surmount our limitations to grow into a true global company. To this end, we will build a fair corporate culture with trust between our employees. We would never trivialize even minor issues, while boldly enjoying new challenges and maintaining thoughtful innovation
“Can a person become a miracle for another?”
This was a famous line from ‘When the Camellia Blooms’, an impressive TV series that aired last year. Director Yeong-hoon Cha said that the theme of the TV show is “a story of a miracle in our community made with the goodwill and kindness of ordinary people”.
LG H&H’s miraculous history is a miracle that is achieved by the small differences our employees make for the company every day. Can a person become a miracle for another? Yes, every one of us makes and deserves a miracle.
Your continued support is greatly appreciated.
Suk Cha, CEO & Vice Chairman