LG Group Chairman and CEO Koo Kwang-mo on Tuesday presided over a meeting of executives of group affiliates for the first time, during which he ordered the top brass to be swifter in preparing for the future.

At the annual workshop held for the CEOs of LG affiliates, Koo emphasized that the current crisis facing businesses is different from previous crises, so it is imperative that the group move faster in seeking changes. 

“The current L-shape economic downturn is new to us, and we have just a few years that would determine our survival,” he said. “We should secure the fundamental competitiveness that we can use to overcome the crisis, and change the way of doing businesses and the quality solidly.”

The top brass needs to take the lead in making changes, the chairman stressed.

“If change is not carried out fast enough, we wouldn’t have the future,” he said. “Please accelerate the change.”

The meeting was held at LG’s training center in Icheon. It was attended by around 30 CEOs of LG affiliates, who discussed measures for future growth.

“Considering the current adverse conditions, this year’s meeting was even more serious and intense,” said an LG official.

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