LG 2004 Annual Report Download - page 6

At a Glance in 2004
LG Electronics has established
a new vision of being among
the global top 3 electronics
and telecommunications
companies by 2010. Mindful
of this, the Company
recently unveiled a guideline called "The LG
Electronics WAY" to all of its employees. This
guideline presents a new management system that
will accomplish what is necessary to achieve the
Company's vision, and ensure that ethical conduct
and value will be shared by all Company employees.
In 2004, with a strong commitment to the achieving
of our goal, we carried out a broad spectrum of
changes and innovations in every area of our
management.
Unveiled
new vision
S.S. Kim, CEO and vice-
chairman of LG Electronics,
has been covered as a global
CEO by such members of the
international major press as
Time and Business Week. In
its June 9, 2004 edition, Business Week, a weekly
economic magazine of the U.S., selected vice-
chairman Kim as "Asia's Star in 2003". TIME, a major
weekly magazine of the U.S., carried the article about
LG Electronics and S.S. Kim in detail under the subject
of "LG greatly expands its presence in global
markets".
Vice-chairman S.S.
Kim was
considered a global
CEO by the world's
press.
Based on the best WCDMA
technology, and its marketing
capabilities, LG Electronics
has made remarkable gains in
the world's third-generation
mobile handset market. We
supplied WCDMA handsets to Hutchison and Orange,
which are third generation mobile phone service
providers in Europe. Furthermore, we were selected as
a preferential WCDMA handset supplier to Cingular
Wireless of the U.S. This laid a solid foundation for LG
Electronics to reach the top in the world's third-
generation mobile handset market in both Europe and
the U.S.
Increased our
share of the third-
generation
mobile handset
market
In February 2004, LG
Electronics successfully
completed the development
of a 5th generation chip for
digital TV. This has provided
a great boost to digital TV
broadcasting in countries that adopted the standard
of ATSC system-based digital TV. This included
Korea, Canada and the U.S. By greatly improving the
performance over existing 4th generation chips, the
5th generation chip enables the receipt of digital
cable broadcasting, and terrestrial digital
broadcasting. It also improved the receipt of indoor
signals, and resolved the problem of shadow areas in
which it is difficult to receive broadcast signals.
Developed a 5th
generation chip
for digital TV
In 2004, we further
strengthened our social
contribution activities and
faithfully fulfilled our social
responsibilities. The LG
Electronics' Volunteer
Group was particularly active. Each member of
the group, including CEO S.S. Kim, actively
participated in a vast array of social programs in
different venues. These included raising funds to
help needy neighbors, supporting orphaned
teenagers who bear the responsibility of caring
for younger siblings, and providing IT training
programs to physically challenged people.
Enhanced social
contribution
activities
LG Electronics achieved a
net income of KRW 1.6
trillion, and total sales
revenue of KRW 24.7 trillion,
for the year 2004. This
represented the best
business performance ever reached in the
Company's history. Our aggressive marketing in
overseas markets of premium home appliances,
digital TV, and mobile handsets, was the main factor
driving the improvement in our 2004 results. These
results are impressive considering the very
challenging business climate in 2004.
Achieved the best
business results
ever recorded by
LG Electronics