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LG Group chief highlights risk management amid virus spread

Koo Kwang-mo (LG Corp.)
Koo Kwang-mo (LG Corp.)

LG Corp. CEO Koo Kwang-mo, leader of South Korea’s fourth-largest conglomerate, said Friday he will focus on risk management amid the global coronavirus pandemic.

At the company’s annual shareholders meeting held at its headquarters in Yeouido, western Seoul, Koo highlighted that LG Group will need to be unshaken by the current risks and rather focus on prioritizing customer value.

“Amid the persisting uncertainties triggered by the global coronavirus spread in the business environment, LG will prepare for growth after the current crisis,” Koo said. “The group will focus on elevating the levels of its businesses for the future while managing risks and prioritizing customer value.”

The LG chief has been checking on overseas business operations of LG affiliates, he said.

He urged the top brass to undertake all efforts to prioritize the safety of executives and employees.

Koo will check on the impact of expected falls in sales and take preemptive measures against an economic recession, the group said.

Vice Chairman Kwon Young-soo was reappointed as an executive director during the shareholders meeting. Cho Sung-wook, CEO of Yoon & Yang, was newly appointed as an outside director.

By Song Su-hyun (