Icheon: LG Group Chairman Koo Kwang-mo hosted a groupwide executive meeting this week to discuss the latest trends in the global industry, including artificial intelligence (AI) transformation, the conglomerate said Thursday. Koo met with the heads of around 40 affiliates, including LG Electronics Inc., LG Display Co., LG Chem Ltd., and LG Energy Solution Ltd., at a company facility in Icheon, southeast of Seoul, on Wednesday.
According to Yonhap News Agency, during the meeting, participants discussed ways to speed up the group's AI transformation amid growing challenges in business environments involving Chinese competition. "Chinese rivals are injecting three to four times more capital and human resources than us," Koo was quoted as saying by LG Group. Koo added that the group has "much work to do," noting the conglomerate has been making efforts to improve profitability and roll out research and development projects.
Participants shared the view that AI transformation will play a crucial role in improving productivity and cutting costs. Koo also requested executives to take special care with the safety of workers, referring to a recent U.S. immigration crackdown at a construction site of a joint venture between Hyundai Motor Group and LG Energy Solution in Georgia that led to the detention of more than 310 South Korean workers, who were later released.
LG Group said Koo has been maintaining close communication with group officials since the crackdown and instructed thorough measures by putting workers' safety as the top priority.