Koo Kwang-mo, LG Chairman: "There Is Opportunity Amid COVID-19 Challenges"

Koo Kwang-mo, Chairman of LG Group

[Asia Economy Reporter Changhwan Lee] Koo Kwang-mo, Chairman of LG, stated that despite the difficulties caused by the spread of the novel coronavirus infection (COVID-19), the company will find opportunities and continue to grow.

At the shareholders' meeting held on the 27th at the LG Twin Towers in Yeongdeungpo-gu, Seoul, Chairman Koo said, "Due to the global spread of COVID-19, an uncertain management environment continues. However, there are opportunities in every difficulty, so LG will wisely respond and prepare for growth after the crisis."

He emphasized, "We will prepare for the future and increase corporate value through the advancement of our business portfolio and the discovery and nurturing of growth engines," adding, "We will strive to become an LG that fulfills its role as a corporate citizen and earns trust and love from customers, investors, and society." He also added, "While focusing on risk management, we will continue our unwavering challenge by placing customer value as the highest priority."

According to LG Group, Chairman Koo checks daily on matters related to the safety of employees and the operational status of global business sites in relation to COVID-19. In particular, he has urged related organizations and top management to carefully monitor and ensure thorough safety measures for employees.

Next week, Chairman Koo plans to review the management status of major business divisions and the tasks to be addressed in the changing corporate environment after the COVID-19 situation, in preparation for the global sales decline and prolonged economic recession. He is also expected to engage in on-site management as the COVID-19 situation calms down.

Meanwhile, at the LG shareholders' meeting on the same day, the 2019 financial statements were approved, Vice Chairman Kwon Young-soo was reappointed as an inside director, and Cho Sung-wook, representative lawyer of the law firm Hwawoo, was newly appointed as an outside director.

This content was produced with the assistance of AI translation services.