IT Visionaries Telling the Innovation Story with Dr. Sokwoo Rhee, Corporate SVP at LG Electronics, Head of North America Innovation Center ("LG Nova")
Storytelling defines how we see ourselves in the world. Telling the story of one’s own life can be empowering or disempowering, depending on the story a person tells. This is true for companies too. The story of a company’s work can be told in a limited or an expansive way. The difficulty is that not only does the company tell its story, their audience — consumers, media, and even other companies — all help tell the story too. For a legacy company, that story can calcify until an effort is made to rewrite the narrative. Dr. Sokwoo Rhee, the Corporate SVP at LG Electronics and Head of North America Innovation Center ("LG Nova"), explains how he is rewriting LG’s story to reflect that it is a company promoting all kinds of innovation.
Main Takeaways
- Strengthening Innovation through Partnerships: LG has created a center of innovation in Silicon Valley, LG Nova, to support innovation from diverse startups across wide-ranging industries. Ultimately, LG Nova becomes partners with select startups and backs them with LG’s might so that they have the ability to scale.
- Telling the Story Differently: LG is primarily known as an electronics and appliance company. The true story is that LG promotes innovation across many sectors and has the capacity to support that aim. Dr. Rhee honors LG’s legacy but is sharing the story that LG’s interest in innovation is very expansive.
- Close to the Action, High Above It, and in the Middle: Rhee tells the story of his career. First, he found himself close to the creative action in the startup world. Then, he worked in government, was high above the action, but could shape policy, etc. Finally, he has found a balance at LG in working with startups yet having the power of LG to make a difference.
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