Seoul: Jeong Chul-dong, chief executive officer (CEO) of LG Display Co., has vowed efforts to maintain technology leadership as the company is set to turn to profit this year, the display maker said Wednesday. "We need to develop technologies that can overwhelm the market and generate profits, making LG Display a leading player in technology," Jeong was quoted as saying during a corporate seminar held Friday.

According to Yonhap News Agency, last week, LG Display announced its return to profit in the third quarter, buoyed by robust shipments of organic light-emitting diode (OLED) panels across all sectors. The accumulated operating income for the January-September period came to 348.5 billion won (US$241.3 million), paving the way for an annual turnaround for the first time since 2021.

Jeong highlighted the increased likelihood of achieving an annual profit, attributing the success to significant progress in quality, safety, cost reduction, and customer satisfaction. He emphasized the necessity for the company to secure technologies that cannot be challenged by rivals, likening them to a defensive moat built around a medieval castle to fend off invasions.

"In order for us to endure, we need to have a competitive edge and build our own moat that cannot be copied," he stated. Jeong also mentioned that the company will accelerate efforts to adopt artificial intelligence (AI) technologies while reducing costs by "thinking outside the box."

"As the market continues to innovate and change, maintaining the status quo means falling behind," Jeong said, urging employees to strengthen competitiveness.