Koo Kwang-mo: "Uncertainty Remains High Next Year, Must Stay True to the Basics"

Koo Kwang-mo, Chairman of LG Group

[Asia Economy Reporter Changhwan Lee] Koo Kwang-mo, Chairman of LG Group, held a video conference with the CEOs of major affiliates and emphasized strengthening the basics such as quality, environment, and safety to overcome the significant management uncertainties next year and to enhance customer value.

According to LG on the 28th, Chairman Koo recently discussed management tasks to be prioritized next year with about 40 heads of affiliates during a video conference of the presidents.

At the meeting, Chairman Koo stated that based on the business report meeting's outlook that the management environment next year will still be challenging and external and internal uncertainties remain high, continuous vigilance and response are necessary.

He shared the view with the CEOs that the difference in capabilities between companies that properly respond to uncertainties and crises and those that do not, as well as between companies that find opportunities and those that do not, will become clearer in the future, and insisted that this crisis must be overcome well.

In particular, he emphasized the importance of being faithful to the basics and ensuring that quality, environment, and safety are thoroughly ingrained in the organizational culture so that customer value is not compromised. Chairman Koo said, "Quality, environment, and safety should be approached with a sense of responsibility by each member, thinking of the products as those used by my own family and the workplace as where my family works," and urged, "For this, I ask the presidents to take the lead."

He also decided to focus on growth based on quality rather than quantity. This means expanding sales that can increase business value by actively building sustainable customer bases and future growth assets such as data for proper future preparation, rather than quantitative growth or simple profitability-centered qualitative growth.

To this end, they plan to strengthen core competencies and enhance business execution capabilities. Under the leadership of affiliate presidents, business strategies will be executed agilely, and key functions such as research and development (R&D), product planning, and DX (digital transformation) will be reinforced with specialized personnel. Digital innovation will also continue by improving business capabilities using data and DX and strengthening business model discovery.

Meanwhile, about 40 people attended the video conference, including Chairman Koo, Vice Chairman Chasik Yong of LG Household & Health Care, Vice Chairman Kwon Young-soo of LG Corp., Vice Chairman Shin Hak-cheol of LG Chem, President Kwon Bong-seok of LG Electronics, and newly joined executives from this personnel reshuffle such as Ryu Jae-cheol, Head of LG Electronics H&A Business Division, and Nam Cheol, Head of LG Chem Advanced Materials Business Division.

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