LG Group to launch global strategy center in July

LG Group will reportedly launch next month a global strategy center to analyze business trends abroad and devise responses.

Industry sources on Sunday said the conglomerate is reviewing the launch of the center through an organizational reshuffle next month; the new entity will be under LG Management Development Institute.

The move is apparently part of the group's response to paving the way to resolve supply chain issues caused by the US Inflation Reduction Act and the European Union’s Critical Raw Materials Act.

LG's emerging challenge is thus to revamp its supply chains centered on two key affiliates: battery maker LG Energy Solution and battery materials producer LG Chem Ltd..

Yoon Chang-yul, a visiting professor at Seoul National University and former deputy director of the Office for Government Policy Coordination (OPC) under the Prime Minister's Secretariat, will be reportedly be the center's first chief.

He spent most of his government career at the OPC, heading both the offices for social policy coordination and government administration and later serving as first and second deputy director for government policy coordination, a vice-ministerial post.

Write to Jeong-Soo Hwang at hjs@hankyung.com