LG Group Chairman Koo Kwang-mo urged major affiliates' top management to strengthen structural competitiveness to speed up the artificial intelligence transformation (AX), while also asking them to look closely after employees' safety.
Koo said this at a presidents' meeting held on the 24th at LG Academy in Icheon, Gyeonggi Province. The meeting, held under the theme of accelerating AX, was attended by more than 40 people, including the chief executives of major affiliates such as LG Electronics, LG Display, LG CHEM, LG Energy Solution, and LG Uplus, as well as chief digital officers (CDOs) overseeing each company's AX strategy.
Koo said, "Chinese competitors are investing three to four times more resources than we are in capital and manpower," and added, "While we have shared the view that strengthening structural competitiveness is urgent and have discussed three major areas — selection and concentration of businesses for sustainable competitive advantage and revenue profitability enhancement, Winning R&D as the core of differentiated competitiveness, and improving structural profitability — there is still much to do."
The management formed a consensus that this is the time to focus on executing AX strategies to boost productivity and secure cost competitiveness amid an uncertain business environment. They agreed that clear, leadership-driven goal-setting is important to avoid missing this window of change, and swift execution is essential.
Meanwhile, regarding the recent detention of LG Energy Solution employees and partner company staff in Georgia, United States, Koo added, "Since people often spend more time at the company than at home, I ask top management to take meticulous care of employees' safety as well."