LG Electronics Targets 100 Trillion Won Revenue by 2030 in Strategic Shift

LG Electronics has announced a strategic shift to move beyond its traditional focus on home appliances and consumer electronics. CEO William Cho stated that the company aims to reach 100 trillion Korean won in annual revenue by 2030 by transitioning toward a platform-based service business model.

The company’s strategy centers on three primary growth engines: expanding platform-based services, accelerating business-to-business (B2B) operations, and entering new industries such as electric vehicle (EV) charging and digital health. Management identified electrification, servitization, and digitalization as the critical drivers for this long-term growth plan.

This move represents a broader effort by LG to diversify its revenue streams away from the cyclical nature of physical product sales. By integrating more service-based solutions into its product ecosystem, LG intends to strengthen its position against global competitors and capture value through connected customer experiences.