Koo Bon-moo, chief of Korea’s fourth-largest family-run conglomerate LG, on Tuesday vowed to accelerate sophistication of the group’s businesses and seek innovation for manufacturing and R&D.

At an executive-level seminar held at the group headquarters in Yeouido, Chairman Koo emphasized the group would set clear goals and specify what it should achieve this year and over the next few years. 

“I vowed to myself early this year to accelerate the pace of business sophistication and seek true innovation in manufacturing and R&D,” Koo told about 400 executives including each subsidiary’s chief executive officers. “To do that, we need to establish a system that efficiently provides needed resources and identify responsibilities.”

In its 70th year since its foundation, LG is making efforts to diversify its business portfolio by enhancing its R&D capabilities on artificial intelligence, robots, autonomous driving and the Internet of Things.

“The role of leadership and responsibilities of each executive will be significant to achieve our goals,” Koo added.

By Song Su-hyun (song@heraldcorp.com)