LG Group Chairman names AI, bio, clean tech as new growth engines

LG Group Chairman Koo Kwang-mo has pledged to continue investing in future-oriented businesses and human resources despite the global economic slowdown.

He said the conglomerate will expand its business portfolio through "ABC," referring to artificial intelligence, bio and clean tech, three crucial future-oriented sectors considered the group's new growth engines.

In a message from the CEO sent on Wednesday to LG Corp.'s 61st shareholders' meeting at LG Twin Towers in Seoul, he said, "We will strive to secure a future-based foundation in preparation for the next 10-15 years."

LG Group Vice Chairman Kwon Bong-seok read the chairman's statement at the event to leading LG Corp. executives in attendance.

"Last year, we provided truly valuable and differentiated experiences to our customers and took a qualitative leap forward in our flagship businesses and raised the global competitiveness of our growing units," he said. "To further solidify our basis for sustainable growth, we will prioritize ABC as our new growth axis and focus on 'future customer value' in any circumstance."

The chairman also expressed his intent to boost the conglomerate's environmental, social and governance (ESG) management.

"We will implement without fail LG’s own ESG management policy devised last year and the group’s 2050 roadmap for carbon neutrality," he said. "LG will be recognized by all stakeholders including customers, investors, contractors and partners."

"We will prepare a preemptive and integrated system to respond to increasingly complex and diversified crisis factors accompanying industrial growth."

Write to Sungsu Bae at baebae@hankyung.com