Thinking

LG Electronics on their transformation into a Smart Life Solution Company

What does it mean for LGE to re-enter the Top 100 brands?

LG Electronics is transforming from a leading home appliance and consumer electronics company into a Smart Life Solution Company. At this historical moment, we are very proud to be recognized as the best global brand, as it means a testament to our strong brand presence and growth potential.

As part of this transformation, we’ve initiated our brand reinvention. Because, we believe that successful business transformation is driven by significant reinvented our brand while leveraging our existing assets and uncovering LG brand core values: human-centered innovation and warmth to power a smile. We’re committed to understanding our customers’ lives on deeper level. To create products and solutions that truly resonate customers’ various needs, we’ve dedicated significant time and efforts to engaging with various advisory groups. The dedication to human-centered innovation based on the warmth to power a smile is at the differentiator of our identity.

We also reinforced our brand promise, ‘Life’s Good.’ While it has always been the core of our identity, it hadn’t received the full attention it deserved. We realized that the promise resonates not only today but also in the future lives of our customers in any living space – home, mobility, commercial and even digital space, aligning with our vision as a Smart Life Solution Company. Furthermore, we reorganized execution systems across all business units and subsidiaries to embed our brand philosophy into our corporate culture.

These strategies have enabled us to implement holistic brand communications.

We launched a global social media challenge to amplify the brand promise by encouraging customers to share what ‘Life’s Good’ means to them in their real and digital lives. The campaign has led versatile and authentic conversations among customers all around the world sharing the values and meaning of ‘Life’s Good’.

In this ever-changing industry, we continue to evolve agilely with our customers and their changed lifestyles. At the same time, we remain committed to the brand core value and delivering on the promise of “Life’s Good” across all customer spaces. And I’d like to invite each and all of you to join the exciting journey as well.

How is your brand addressing different customer needs in new spaces as LGE is transforming? 

We believe our brand will play a crucial role in our successful business transformation. The growth in our brand value reflects not only recognition but also a strong foundation of trust and a favorable reputation in consumers’ hearts and minds. As LG expands into solutions in mobility, commercial, and digital spaces, in other words, from our existing business to B2B, platform-based service businesses like webOS and even to new business areas, our brand is key to being chosen by customers and partners because it is trusted, relevant, engaging, and loved. This is the power of a brand that makes a real difference.

For the past 70 years, LG has been loved for its cutting-edge technologies and exceptional customer experiences in the home space. Going forward, LG will continue to be chosen not only for its category-leading technologies but also for its sincere commitment to delivering on the promise of ‘Life’s Good’ across diverse spaces, including mobility, commercial, and digital sectors.

Reflecting on LGE’s journey – what are the biggest challenges and opportunities?

The uniqueness of our brand journey lies in the fact that LG Electronics has been a well-known name for the past 70 years. Despite having a strong brand history and assets, our brand value has often been underestimated. This is where our journey begins.

To revitalize our well-known brand, we revisited our history and reflected on our identity to better leverage our existing assets. Along this journey, we rediscovered what makes LG unique.

These brand core values—human-centered innovation and warmth to power a smile, are the fundamental and enduring elements of our brand.

Together with our technological innovations, these values have been key to securing our place in the hearts and minds of our customers.

This year, our brand campaign ‘Optimism your feed(#OYF)’ is a great example to make life better in the digital space, especially for young generation.

This campaign was launched to ignite a social movement aimed at positively transforming conversations on social media, shifting away from the influence of negative algorithms, and fostering a culture of optimism. It’s a part of our efforts to achieve ‘Life’s Good’ in both the real and digital lives of our customers. The #OYF social media campaign garnered over 1.8 billion views across various channels and attracted attention from numerous global media outlets, thanks to its positive purpose and user responses. Through this initiative, the message of ‘Life’s Good’ has been embraced by customers worldwide especially on diverse social media platforms.

Last but not least, we recognized that to make our brand promise real and genuine, it must be realized from the inside out. We’ve been embedding this promise into our corporate culture, ensuring that all employees feel that ‘Life’s Good’ at LG as well.

To spread the ‘Life’s Good’ brand promise internally, we hosted ‘Life’s Good’ events for employees starting last year. ‘Life’s Good’ trucks adorned with assets applying the new visual identity toured LG’s business sites in Korea, offering employees engaging brand experience programs and even branded merchandise.

 This wasn’t limited to Korea; LG’s global offices also hosted offline events to spread the new brand direction with employees. Last December, LG Indonesia reaffirmed the brand message with ‘Life’s Good’ Day event, featuring performances from local artists, while LG Peru and Vietnam have made contribution to society by voluntarily engaging in activities such as coastal clean-ups and building houses for homeless families, positively impacting the community – each local activity enabled employees to let their hair down and truly experience ‘Life’s Good.’ This is where our journey starts and will continue to evolve.

 ‘Life’s Good’ is not just a slogan—it’s a promise we’re committed to delivering to our customers.

Special Report

Best Global Brands 2024