Koo Kwang-mo Chairs LG Group's First Half Strategy Meeting... Reviewing Mid- to Long-Term Business Plans

Seeking Business Strategies by Subsidiary by the End of This Month
The 20th Marks the 5th Anniversary of the Passing of Late Chairman Gu Bon-mu

LG Group Chairman Koo Kwang-mo is conducting a mid-year business report meeting to review the group's medium- to long-term business strategies. This is to check the business status of each affiliate and seek countermeasures amid the deepening global economic recession and supply chain restructuring.

According to the business community on the 19th, LG Group has been holding the 'Mid-Year Strategy Report Meeting' chaired by Chairman Koo since the 8th. The meeting is known to discuss medium- to long-term strategic directions such as customer and market change analysis and future business portfolio strategies, as well as ways to enhance execution capabilities. The schedule is planned to continue until the end of this month.

Koo Kwang-mo, Chairman of LG Group / [Photo by LG Group]

The strategy report meeting is a business report session held twice a year, in the first and second halves, targeting all LG Group affiliates. Its purpose is to review the management performance and business strategies of major affiliates and business divisions. CEOs of key affiliates such as LG Electronics and LG Chem directly report related matters to Chairman Koo.

The second half business report meeting will be held as usual between October and November. In the second half, the business performance of the year is reviewed and the business plan for the following year is discussed. Since 2020, LG Group had integrated the first and second half business report meetings into one in the second half, but from last year, they have been held separately to respond quickly to the changing management environment.

Chairman Koo accompanied President Yoon Suk-yeol as part of the economic delegation during the latter’s state visit to the United States last month. During his visit to the U.S., Chairman Koo attended the Korea-U.S. Business Roundtable held at the U.S. Chamber of Commerce and the state banquet. Before the U.S. visit, he inspected LG Chem’s cathode material plant in Cheongju, Chungbuk, stating that cathode materials are the core competitive foundation of the battery business and checked the battery supply chain.

The late Koo Bon-moo, former chairman of LG Group / [Photo by LG Group]

Meanwhile, the 20th marks the 5th anniversary of the passing of the late Chairman Koo Bon-moo. LG Group does not hold a separate memorial event for the 5th anniversary. Instead of organizing events, the group has honored the late chairman by posting online memorial videos on the company intranet.

Chairman Koo Bon-moo was the grandson of the founder, Chairman Koo In-hwoi, and the eldest son of Honorary Chairman Koo Ja-kyung. He served as LG Group chairman for 23 years from 1995. He passed away on May 20, 2018, at the age of 73.

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