- "LG's Day 1 spirit of choosing what others wouldn't dare comes from our DNA of challenge and change as we serve our customers. With this spirit, we have built a history of firsts and bests."
- "Creating distinguished customer value for our customers is no easy task. It often comes with fear of failure. But just as what feels familiar today was once an innovation, we haven't let fear of failure hold us back. Instead, we've kept pushing forward, taking on new challenges and driving change."
- "LG has become the company it is today by taking on new challenges and creating value that didn't exist before. With our spirit of challenge and change, we'll continue to deliver essential and exceptional value to our future customers."
- "Let's shape a future where LG is a name people can't imagine living without, by staying true to our spirit of innovation and commitment to our customers."
- "From AI and smart solutions that enhance the value of customers' time and enable them to unleash their infinite potential, along with biotech and cleantech that create a healthy life and a clean planet, innovative ideas taking root across our organization will blossom into smile-worthy values for our future customers."
SEOUL, South Korea, Dec. 19, 2024 /PRNewswire/ -- LG Corp. Chairman and CEO Kwang Mo Koo delivered his annual New Year's greetings via video email to approximately 270,000 LG employees worldwide. This continues a tradition begun in 2022 of delivering the New Years's message just prior to the beginning of the year to encourage employees to close the year peacefully and calmly, and plan for the upcoming year. This year's email was titled "Hello, this is Kwang Mo Koo" and sent on December 19 in the morning (KST).
Chairman Koo began the video message on a note of gratitude, calling employees "Customer Value Creators," noting that thanks to their efforts "2024 was another great year of creating distinguished value and that they had brought the company one step closer to customers."
In the 2025 New Year address, Chairman Koo emphasized LG's founding spirit as being rooted in the DNA of challenge and change we've had since Day 1, urging the company to deliver essential and exceptional value to future customers. He also reflected on the past, noting that "LG began with the goal of providing products and services that are truly needed by customers. The Day 1 spirit of choosing what others would not dare reflects our DNA of taking on challenges and driving change."1)
1) Original quote by Founding Chairman Yonam In-hwoi Koo: "Choose what others overlook and start with the things that people cannot live without. Once you begin, push forward boldly."
Chairman Koo further emphasized that LG's efforts to bring joy and happiness to customers' lives have led to bold innovations, creating a history of firsts and bests across various fields and delivering distinguished value that elevates customers' lives to the next level. 2)
"Creating distinguished value for customers is no easy task. It requires stepping away from familiar ways, and it comes with worries and fear of failure," said Chairman Koo. "But just as what feels familiar today was once an innovation, we haven't stopped at failure or settled for past successes. Instead, we've continued to challenge and drive change."
"LG has become the company it is today by taking on new challenges and creating value that didn't exist before. With our spirit of challenge and change, we'll continue to deliver essential and exceptional value to our future customers," said Chairman Koo. "Together, let's shape a future where LG is a name people can't imagine living without by staying true to our spirit of innovation and commitment to our customers."
2) LG's history of firsts and bests
- 1947 Korea's first cosmetics – Lucky Cream
- 1952 Korea's first plastic product made by injection molding
- 1959 Korea's first radio
- 1966 Korea' first black-and-white TV / 2002 World's first 52-inch LCD HDTV / 2011 World's first 55-inch OLED for TV / 2023 World's first wireless OLED TV / 2024 LG OLED TV ranked No.1 by consumer media in 14 countries
- 1969 Korea's first washing machine / 2011 World's first clothing care system – LG Styler / 2023 Next-generation shoe care solution –ShoeCase and ShoeCare / 2024 LG refrigerator, washing machine, dryer ranked No.1 by Consumer Reports
- 1999 Korea's first lithium-ion battery / 2009 World's first mass-produced EV batteries / 2024 World's No.1 secondary battery patent holder
- 2007 - present ABS global market share No.1 / 2020 World's first mass production of white recycled ABS
- 2003 Korea's first FDA-approved new drug – FACTIVE / 2023 Korea's best growth hormone - Eutropin / 2024 Korea's best new diabetes drug – Zemiglo
- 1998 World's first CDMA PCS wireless data service / 2013 World's first nationwide LTE network / 2019 World's first commercial 5G network service
- 2024 Korea's first homegrown open-source large language model – EXAONE 3.0
In the 2025 New Year address, Chairman Koo shared LG's vision for the future, one that delivers essential and exceptional value for future customers:
"From AI and smart solutions that enhance the value of customers' time and enable them to unleash their infinite potential, along with biotech and cleantech that create a healthy life and a clean planet, innovative ideas taking root across our organization will blossom into smile-worthy values for our future customers.
"We aim to make AI and robots a seamless part of daily life, giving people more time to focus on meaningful and enjoyable pursuits," he said, elaborating on his broad vision for the company. "Through healthcare solutions and innovative new medicines, we will help people spend more time with their loved ones. By reducing carbon emissions and waste and transforming them into valuable resources, we will ensure clean water and air for everyone. And with advanced industrial solutions, we will help customers overcome challenges and unlock their full potential."
In doing so, the chairman brought to life LG's vision for the future of creating value that truly matters to customers.
This year's video message also featured several LG employees who shared the distinguished value they are working to create for future customers in areas such as AI, bio and clean tech, and smart homes.
"We're developing AI home solutions with AI-powered appliances and robots communicate naturally with users and provide personalized care," explained Sung Wook Hong of LG Electronics' Home Appliance Solution Company. "We want our homes to handle chores so that customers can focus on more enjoyable and meaningful activities."
"Our goal is to develop effective and safe therapies that help cancer patients live healthy and happy to their full life expectancy" said Hyungjin Cho of LG Chem's Life Sciences Company as he shared his vision for his work to develop new medicine to fight cancer.
"We're developing a solution for collecting carbon dioxide generated in thepetrochemical processes and using it as an ingredient for producing plastics," said Jae Young Park of LG Chem's COâ‚‚ Plastic Project, adding that "just about everything needs plastic these days, so we want to be able to share our innovation with the next generation so they can enjoy summers that are not hotter than the past."
Chairman Koo then expressed his support for the employees. "The challenges and changes, big and small, that each of us drives in our respective roles are all incredibly valuable," he said.
The video message was filmed against the backdrop of the Connectwin, located on the lower levels of LG Twin Towers in Yeouido, Seoul. The newly renovated common space was unveiled earlier this year with a dual meaning behind the name: connecting the Twin Towers and connecting to win.
Since his 2019 New Year's message, where he placed an emphasis on "prioritizing customers as a future direction of LG," Chairman Koo has consistently refined his message of customer value management through annual addresses.
In 2019, he defined three unique customer values for LG: "transforming customer's lives with satisfaction," "being ahead of others," and "continuously creating value." In 2020, he called for a focus on identifying customer pain points as the starting point for realizing customer value. In 2021, he emphasized the importance of deeply understanding and empathizing with customers through micro-segmentation. In 2022, he proposed creating valuable experiences that customers would not want to live without. In 2023, he askedd each member to search for the customer value they could create, inspiring employees to take the lead in value creation and prioritizing customer satisfaction. In 2024, he urged staff to commit itself to creating distinguished customer value to position LG as the market-leading customer experience innovator.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
LG Corp. Chairman and CEO Kwang Mo Koo sends 2025 New Year Address to 270,000 global employees on December 19
SINGAPORE, March 11, 2025 /PRNewswire/ -- A newly released white paper, based on research conducted independently by IQVIA, a global healthcare consultancy, and commissioned by GSK, highlighted the economic and healthcare burden posed by Respiratory Syncytial Virus (RSV) on older adults aged 60 years or over in high-income Asia-Pacific Economic Cooperation (APEC) countries and regions, including Australia, Hong Kong, Japan, and Singapore.
Substantial RSV-associated Hospitalisation Costs Put Pressure on Older Adults
The white paper estimated that in 2023, RSV led to approximately 3,251 hospitalisations amongst older adults in Singapore and is linked to a higher per-person direct medical cost (compared to cost in Australia and Japan) to cover inpatient stays, increased hospitalisation length, ICU resources, and emergency visits.2
Amongst the APEC countries and regions in the survey, hospitalisation costs per older adult in Singapore amounted to SGD 9,430 (USD 7,037),* as compared to Australia at SGD 7,757 (USD 5,789)* and Japan at SGD 8,242 (USD 6,151).* Hong Kong had a slightly higher cost at SGD 7,848 (USD 10,515)* compared to Singapore's.
RSV, a common and contagious virus that affects the lungs and respiratory airways, that can affect people of all ages, from infants to adults. Among adults, it disproportionately affects older adults with weakened immunity and pre-existing chronic conditions. As older adults aged 60 years or over experience a weaker immune system, they are more susceptible to severe RSV infections. Chronic conditions, such as heart diseases, asthma, and chronic obstructive pulmonary disease (COPD), are factors that could exacerbate the impact of RSV, leading to health decline, re-hospitalisations, and loss of independence even after the acute episode has resolved.3-6
A four-year study conducted in Singapore reported that one in every 20 older adults aged 65 years or over has tested positive for RSV in influenza-negative specimens.7
A family member caregiver of an RSV patient (name withheld on the caregiver's request) interviewed by GSK, shared, "As a caregiver, watching a loved one struggle with RSV is incredibly challenging. The challenge goes beyond the illness itself — it is the sleepless nights, the constant worry, and the disruption to daily life. When my mother was hospitalised due to RSV, I realised how vulnerable we all are to this virus. The financial strain is just as overwhelming as the emotional toll. Hospital bills, medication costs, and the possibility of long-term care can quickly add up, leaving families financially drained on top of the stress of caring for a loved one. Speak to your doctor early when in doubt to avoid unnecessary hospital stays and the added financial burden."
Burden of RSV Hospitalisation Amongst Older Adults with Chronic Conditions Highlight Need for Increased Awareness and Improved Diagnosis
Earlier published studies have reported that the direct medical cost associated with RSV hospitalisation rose significantly for patients with more severe outcomes, which were more frequently observed in older adults, especially those with pre-existing chronic conditions.8-10
More than 85% of Singaporean adults aged 60 years or over have reported having been diagnosed with at least one chronic condition,11 and it has been estimated that nearly 25% of the Singapore population will be 65 years of age or older in 2030, compared to the current 14%.12
Dr Lee Tau Hong, Infectious Disease Specialist, Infectious Diseases Care Clinic in Singapore, shared with GSK, "RSV poses a significant burden on patients, families, and healthcare systems worldwide. It not only causes distress for patients but also places immense strain on resources during peak flu and RSV seasons. Addressing this burden through prevention, early detection, and education is critical to safeguarding public health and reducing the impact of RSV on our communities."
The Way Forward
IQVIA's white paper underscores the importance of preventive measures, such as RSV vaccination programmes, to mitigate the virus's impact on older adults and alleviate the strain on healthcare resources.
Other preventive measures, beyond vaccination, include practicing good hygiene by covering coughs and sneezes and ensuring ample physical distance away from others when one is sick.13
Additionally, the white paper highlighted the value of increasing the frequency of testing to identify RSV cases in implementing effective healthcare strategies. Further, the white paper brought out the importance of accurate information as a first step towards preventing RSV infections and the role of healthcare professionals in engaging with the public.
"Low awareness of RSV and preventive actions, coupled with the reported substantial costs of medical treatment and hospitalisation, presents a significant financial burden, especially amongst older adults. It is important to also understand that older adults who come out of hospitalisation due to severe RSV could experience significant changes in the quality of their lives, with some sharing that they were never the same person again. This highlights the urgent need to address the growing impact of RSV infections on healthcare systems and strengthen primary, acute, and long-term care in societies where ageing is an emerging challenge, such as Singapore, shared Dr. Stephanie Cinthu Stephen Ambrose, Country Medical Director, GSK Singapore.
The IQVIA white paper concluded emphasising on the need for healthcare practitioners, public health bodies, and policymakers to come together to improve RSV patient outcomes in APEC countries, including Singapore, and prevent RSV infection in older adults.
The full white paper, "Economic Burden of Respiratory Syncytial Virus (RSV) Infection Among Older Adults in Select Asia-Pacific Economic Cooperation (APEC) Countries," can be accessed via https://www.iqvia.com/locations/asia-pacific/library/white-papers/economic-burden-of-respiratory-syncytial-virus-infection-among-older-adults.
*IQVIA white paper reported costs in USD currency; conversion to SGD utilised the prevailing rate at the time of writing
- END-
About RSV in older adults aged 60 years or over
RSV is a common contagious virus affecting the lungs and breathing passages that can affect people of all ages, from infants to adults. For adults 60 and older, data suggest an increased risk for severe RSV infection that can lead to hospitalisation.15Older adults are at high risk for severe disease due in part to age-related decline in immunity, and older adults with underlying conditions are at even greater risk for severe disease15. RSV can exacerbate conditions, including chronic obstructive pulmonary disease (COPD)16, asthma17, diabetes18 and congestive heart failure19 and can lead to severe outcomes, such as pneumonia, hospitalisation, and death15.
About GSK
GSK is a global biopharma company with a purpose to unite science, technology, and talent to get ahead of disease together. Find out more at https://www.gsk.com/en-gb/locations/singapore/
About the IQVIA White Paper
The IQVIA white paper has been developed independently by the IQVIA RWE Medical and Scientific Writing: Epidemiology and Database Studies team. Funding for this work has been provided by GSK. Editorial assistance was provided by Shlok Kumar, Consultant, IQVIA, India.
A Pragmatic Literature Review (PLR) was conducted to identify published evidence on Respiratory Syncytial Virus (RSV) hospitalization incidence, number, and cost in adults, with a defined scope, inclusion criteria, and data identification and extraction methods. Once the criteria were defined, they were converted into strategies, which were then used to search relevant databases for identifying pertinent evidence. The selected articles were assessed according to the established inclusion and exclusion criteria.
References
1. Costs are adjusted for inflation till 2023. The local Singapore currency was converted from United States dollars (USD) based on the exchange rate of 2023 on World Bank. Available from: https://data.worldbank.org/indicator/PA.NUS.FCRF?locations=SG.
2. Branche AR, Falsey AR. Respiratory Syncytial Virus infection in older adults: an under-recognized problem. Drugs Aging. 2015;32(4):261-9.
3. Mehta J, Walsh EE, Mahadevia PJ, Falsey AR. Risk factors for Respiratory Syncytial Virus illness among patients with Chronic Obstructive Pulmonary Disease. COPD. 2013;10(3):293-9.
4. Falsey AR. Respiratory Syncytial Virus infection in elderly and high-risk adults. Exp Lung Res. 2005;31 Suppl 1:77.
5. Falsey AR, Walsh EE, House S, et al. Risk Factors and Medical Resource Utilization of Respiratory Syncytial Virus, Human Metapneumovirus, and Influenza-Related Hospitalizations in Adults-A Global Study During the 2017-2019 Epidemic Seasons (Hospitalized Acute Respiratory Tract Infection [HARTI] Study). Open Forum Infect Dis. 2021;8(11):ofab491.
6. Branche AR, Falsey AR. Respiratory Syncytial Virus infection in older adults: an under-recognized problem. Drugs Aging. 2015;32(4):261-9.
7. Ang, Li Wei et al. "Characterisation of respiratory syncytial virus activity in children and adults presenting with acute respiratory illness at primary care clinics in Singapore, 2014-2018." Influenza and other respiratory viruses vol. 14,4 (2020): 412-419. doi:10.1111/irv.12730
8. Nguyen-Van-Tam JS, O'Leary M, Martin ET, et al. Burden of respiratory syncytial virus infection in older and high-risk adults: a systematic review and meta-analysis of the evidence from developed countries. Eur Respir Rev. 2022;31(166):220105.
9. Stephens LM, Varga SM. Considerations for a Respiratory Syncytial Virus Vaccine Targeting an Elderly Population. Vaccines (Basel). 2021;9(6).
10. Walsh EE, Peterson DR, Falsey AR. Risk factors for severe respiratory syncytial virus infection in elderly persons. J Infect Dis. 2004;189(2):233-238.
11. Chan, A., Malhotra, R., Visaria, A., Sung, P., Siok Seng, B. J., Ching, & Tan, Y. W. (2020). Transitions in health, employment, social engagement and intergenerational Transfers in Singapore Study (THE SIGNS Study) – II: Cross-Sectional and Longitudinal analyses of Key aspects of Successful Ageing. Centre for Ageing Research and Education, Duke-NUS Medical School. https://www.duke-nus.edu.sg/docs/librariesprovider3/publications-docs/the-signs-study---ii-report-(revised).pdf?sfvrsn=b391ced0_0
12. Department of Statistics Singapore. https://www.singstat.gov.sg/find-data/search-by-theme/population/elderly-youth-and-gender-profile/latest-data. Retrieved from: Asian Development Bank. (2020). Singapore's Care System and Population Aging: Challenges and Options. https://www.adb.org/sites/default/files/publication/637416/singapore-care-system-population-aging.pdf
13. Centers for Disease Control and Prevention. (n.d.). How RSV spreads. Centers for Disease Control and Prevention. https://www.cdc.gov/rsv/causes/index.html
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Report: RSV-associated Hospitalisation Costs in Singapore Estimated at SGD 9,430 per Patient; Poses Financial Strain on At-risk Older Adults
