[Reporter's Notebook] Koo's leadership at core of LG's rapid growth
來源：開云體育app官方網站發布日期：2023-01-27 05:27:33 瀏覽：273
LG Group has been moving up the business ladder to take over second place in market capitalization. With its successful listing of LG Energy Solutions (LGES), the group's accumulated market cap expanded to 233 trillion won, surpassing 200 trillion won for the first time.
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| LG Group Chairman Koo Kwang-mo |
One of the key decisions he made was with regards to LG Electronics' withdrawal from the smartphone sector that has been suffering years of deficits. He gave up the mobile communication business and instead focused on the company's future growth, which now includes electric vehicle (EV) batteries and artificial intelligence (AI).
With these decisions, LG Electronics has improved its business portfolio in both profitability and growth potential.
Koo's leadership capabilities are also reflected in the successful listing of LGES. Ahead of the listing Thursday, Koo made a bold decision to replace the CEO of LGES in October, a month ahead of the regular executive reshuffle. He placed Vice Chairman Kwon Young-soo, a key aid of Koo, to take charge of its battery business.
Koo continues to increase its investments in the EV battery sector, engaging in joint ventures with global carmakers.
LGES and General Motors officially announced their joint venture (JV) plan to invest $2.6 billion in the construction of an electric vehicle battery cell plant in the U.S., Tuesday (local time).
LGES is also seeking to establish a joint battery plant in the U.S. with Honda Motor, the world's 8th-largest automaker.
It is the leadership of Koo, LG Group that has enabled such rapid growth and helped it place second in accumulated market cap ― surpassing SK Group. His bold decision-making capabilities as well as his keen eye for future growth businesses is expected to stir up the business world further.
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