At LG Chem, we are now practicing Speed Management across the enterprise to meet our business targets and bring us a step closer to achieving our vision of being a global leader. We continue to expand our Six Sigma and total productive maintenance (TPM) initiatives as we systematically take our competitiveness to the next level.

Speed Management, a unique means to guiding implementation of LG Way in LG Chem, enables acceleration of strategy execution and organizational transformation with a focus
on market and customer, to realize our vision as a Global Leading Company that delivers sustainable performance excellence. There are three core Speed management initiatives- 'No.1 in Core Business' , 'Customer Value Creation' , and 'Global Organizational Capability'
-of which are executed through an 'Earlier preparation than competitors' , 'Faster results than competitors' , and 'More Frequent check than competitors' approach. Speed Management requires us to concentrate on our core strengths to provide excellent performance. In busi-ness management, we are deploying the 'Core Focused Strategy' to focus our time and effort on our core, competitive business areas. In people management, we identify and further reinforce the strengths in our people. In addition, our people accumulate success experi-ences of achieving challenging goals with strong desire and through flow. By building up these success experiences, we are acquiring breakthrough capability that consistently crea-tes excellent performance.

Our on-site innovation initiatives, such as Quality Control (QC) and Total Productive Mainten-ance (TPM), have helped build a systematic facility management mechanism across our plants, resulting in maximum productivity and minimum defects to deliver products with world-class quality. We deployed Six Sigma across organization to secure cost and product leader-ship in 1999, so that we could proactively and flexibly adapt to increasingly sophisti-cated and evolving customer needs. Our Six Sigma program brings in the best and the brightest from different areas of the company to solve problems. To further facilitate such innovation progra-ms, we hold Best Practice Contest every year to share our innovation performance and recog-nize people for their efforts.