Koo Hyun-mo: "Leading Change and Innovation in AI in the Post-Corona Era"

KT CEO Koo Hyun-mo Holds Meeting with Venture Investors on 20th
"Experience Overcoming Post-Corona Era Is a Great Asset... Crisis Must Be Turned into Opportunity"
Prepare for Non-Face-to-Face, Localize Supply Chains, Ensure Employee Safety, Address Demand Decline
"Seek Opportunities in Bio and Health but Prepare Thoroughly for Uncertainties," Urges

[Asia Economy Reporter Koo Chae-eun] "In the post-COVID era, we will seek cooperation with startups in the field of artificial intelligence (AI) and lead change and innovation."

This is the statement of KT's CEO Koo Hyun-mo (pictured), head of the telecommunications giant with annual sales of 24 trillion won and 43 affiliates. On the 20th, during a lecture titled "Management Strategy in the Post-COVID Era" for venture investors, CEO Koo emphasized, "Experience in overcoming crises is a great asset for companies," adding, "We must quickly understand the changing market demands due to COVID-19." He pointed out that while seeking opportunities in non-face-to-face, untact, bio, and health sectors, companies must also prepare for uncertainties such as supply chain issues, employee safety, demand drops, and workplace closures.

◆ Need to Prepare Supply Chains and Seek Non-Face-to-Face Opportunities = CEO Koo first stressed the importance of supply chain-level preparations, such as domestic production of essential parts. He said, "Before COVID-19, companies did not worry much about supply chains, safety, workplace closures, or sudden demand drops, but the situation is different now," citing the successful localization of ECMO (extracorporeal membrane oxygenation) devices used to treat severe COVID-19 patients as an example. CEO Koo repeatedly emphasized the importance of domestic production of essential parts in situations where supply chains are disrupted.

He noted that digital innovation and non-face-to-face trends such as online education, remote work, telemedicine, and delivery apps, which have expanded due to COVID-19, will continue for a long time. According to CEO Koo, there are new business opportunities within this trend. He said, "There will be growth opportunities in the bio and health sectors," adding, "South Korea's COVID-19 response has become a global role model, and with excellent ICT infrastructure and technology being highly regarded, entering overseas markets with ICT-based medical services is also a way to pioneer new markets."

◆ Leading Innovation with AI = CEO Koo Hyun-mo presented a new vision of "leading changes in customers' lives and innovation in other industries," expressing high expectations for AI. In this regard, KT is conducting a three-year, 12 billion won 'Next-Generation Epidemic Prevention Research' project funded by the Bill & Melinda Gates Foundation. The goal is to build a Global Epidemic Prevention Platform (GEPP) by linking ICT technology with AI algorithms. CEO Koo said, "The epidemic prevention system that started during the MERS outbreak is continuously expanding and developing," adding, "In the future, KT's technology will help strengthen the national ICT-based epidemic prevention system."

He also mentioned untact, non-face-to-face, and continuous work systems. CEO Koo said, "When KT inevitably had to suspend operations at certain customer centers, we established a system to transfer work in real-time to other centers," adding, "It is necessary to review and adopt new approaches to work practices such as overseas business trips and face-to-face meetings, which were once taken for granted."

Meanwhile, the seminar was organized to explore investment directions and share concerns of startups amid the economic contraction and increased uncertainty caused by COVID-19. About 40 venture capital industry figures attended, including KT CEO Koo Hyun-mo, Lee Kang-soo, Vice President of Company K Partners, Kim Pan-geon, CEO of Future Science and Technology Holdings, and Park Ha-jin, Head of HB Investment. Lee Kang-soo, Vice President of Company K Partners, said, "It was a meaningful occasion to share wisdom with KT CEO Koo Hyun-mo in a market full of uncertainty due to COVID-19," adding, "Venture capital leaders will actively participate in the changes KT will lead going forward."

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