LG 1999 Annual Report Download - page 10

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8
0
BUSINESS OVERVIEW
1999 was a vintage year. For our employees, a good career year. We did not feel constrained by unfavorable domestic
and overseas business circumstances but carried on efforts in an all-for-one spirit, achieving the best profits we ever had.
This solidified our footing for becoming a digital leader.
We added to our technological competence in digital TVs and PDPs and started to spin off
multifunctional hybrid products. We commercialized North American-standard HD TVs, digital TVs for Korean audiences,
and 40" PDPs. We put several ICs onto a single chip. We were prolific in our development of new technology and
feature-rich products including 60" HD PDPs, 8X CD-RWs, 8X DVD-ROM drives, video phones, the drum-spinning
Turbodrum Inverter Washing Machine, optical microwave ovens, and 19" color display tubes (CDTs).
Our efficient marketing activities pushed our overseas revenues 24% higher. Fully-flat monitors,
fully-flat TVs, LCD monitors, PCs, CD-ROM drives, and other high-end products showed favorable tendencies overseas, with
sales in the North American, European, and other advanced markets making a big jump. Our home appliances were
ranked as the best in many countries. New air conditioners and combination refrigerators began shipping to all European
countries.
Along with our technological R&D, we also improved our products from the design point of view
to win many hearts. Last year we were honored with the grand prize at the 1st Korea Design Management Awards. Our
DIOS refrigerator received the Presidential Award at the Superior Industrial Design Awards '99 in Korea, and five products
including our Kimchi refrigerator received Good Design Awards from the Design Promotion Agency of Japan. For three
consecutive years our 60" PDPs have brought us the Presidential Award at the Multimedia Technology Awards.
In 1999 we continued diverse global events centered on sports marketing. We are adding to our
mass appeal in the world through sports sponsorships, for instance in soccer, the most popular sport in the world. We
held LG Cup soccer games in Cairo, Morocco, and Poland. We sponsored the national soccer team of Australia, the Korea-
China soccer game, and the India Cricket World Cup. Our hosting of the LG Scholarship Quiz in Vietnam, Indonesia,
Kazakstan, and Thailand and landscaping of Millennium Park in Jordan are other examples of our multicultural and
regional approach to promoting a friendly brand identity. We of LG will continue these programs in order to repay our
worldwide customers for the wonderful support they have given us.
LGE has been restructured into the Digital Display, Digital Appliance, and Digital Media Companies.
Each company takes full managerial responsibility and exercises flexible decision-making on the basis of digital
management. Our all-out Super A and Six Sigma initiatives realize cost reductions, quality upgrades, and performance
innovations. The Enterprise Resource Planning (ERP) system has become a knowledge pool for all employees who have to
cope with the sweeping e-commerce trends.