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.

The Speed Management (SM) paradigm holds that changes in execution principles based on a market-and customer-centric mindset can double the speed of strategy execution and organizational culture ange. This, in turn, accelerates performance, leading to the attainment of business goals and, in the onger term, the corporate vision. Today, we are systematically applying the principles of SM through core initiatives of ‘core business reinforcement’, ‘customer value innovation’, and ‘organizational capability enhancemen’.

Internalizing the SM execution principles of “earlier than competitors”, “faster than competitors”, and “more ‘real time’-ly than competitors” is something that every member of the LG Chem family is involved in. “earlier than competitors” means anticipate changes in advance. It involves detecting market changes, creating an appropriate strategy and execution plan, and then executing it to beat the competition to market. “faster than competitors” means focusing on the fundamentals to get quick results. It involves simplifying the organization and processes as well as improving reporting and meeting culture practices to accelerate decision-making speed, reducing the time it takes to respond to customer needs such as product development and quality and cost issues. “more ‘real time’-ly than competitors” means setting key performance indicators for each objective and then periodically examining actual results to ensure progress is being made.

We are now focusing on our strengths to provide excellent performance; We push ahead with ‘core focused strategy’ which is focusing our time and effort on core business at the company level, and ‘finding and reinforcing strengths’ at the individual level.With Speed Management and Focusing on strengths, we expect to create excellent performance and secure the growth engines that will enable us to emerge as a global industry leader in the coming years.

Since 1993, our quality control, total productive maintenance, and other workplace initiatives have formed the core of a systematic facility management paradigm that maximizes productivity and minimizes defects to deliver products with world-class quality. In 1999, we adopted Six Sigma across the enterprise as part of our efforts to secure product leadership, enabling us to proactively and flexibly adapt to rapidly changing customer requirements. Our Six Sigma program taps the best minds from each area of the company to solve problems. Our ambitious goals and strong execution continue to spawn new Six Sigma projects that are making significant contributions to the bottom line.