E1 completed the construction of an 8MW-class solar power generation complex in Jeongseon, Gangwon Province. Courtesy of LS Group

By Kim Hyun-bin

LS Group is accelerating its "ambidextrous management" as it wants to expand both current and future growth opportunities amid the uncertain global business environment, according to LS officials, Wednesday. "Ambidextrous management" is an organizational strategy that promotes both main and new business simultaneously.

It has been the management strategy of LS Group Chairman Koo Ja-eun, and aims to maintain a technological gap in fields such as electricity, power and materials, while boosting future growth opportunities such as renewable energy and electric vehicle (EV) charging.

LS Group Chairman Koo Ja-eun

Chairman Koo delivered a special message saying, "We will further stimulate ambidextrous management," while speaking at the LS Executive Seminar held at the LS Tower Auditorium in Anyang, Gyeonggi Province, earlier this month.

LS executive seminars have usually featured lecturers from outside of the company, but this time, Chairman Koo gave a special lecture.

Koo, who took office in January of this year, has been conducting on-site management by visiting 14 subsidiaries for three months, from May through this month. He has visited the sites himself and devised a future strategy.

"The unprecedented climate crisis and this period of great change requiring carbon neutrality, are a great opportunity that will never be seen again for LS. We must find hidden opportunities in these areas," he said. "We will optimize our existing businesses with operating system innovation and data management, and on the other hand, we will enter new businesses and establish a management system that allows us to work without fear."

In May, LS decided to purchase a 49.9-percent stake in Japan Korea Joint Smelting (JKJS), the second-largest shareholder of LS-Nikko Copper, for 93 billion won.

Amid the recent brisk performance due to the rise in copper prices, the company's dominance is expected to increase while expanding business synergies with affiliates of the group that deal with copper.

On the other hand, the company jointly invested with E1 to establish LS E-Link, an EV charging business, in April. LS plans to use LS E-Link to bring together its EV business capabilities, which will become a new driver for the group in the future.

Each affiliate is also strengthening its market influence in fields with long business experience, such as power infrastructure and comprehensive energy solutions while seeking new business opportunities in the fields of new and renewable energy and EVs.

LS Cable & System, a global leader in cable solutions, is preemptively preparing for the domestic and overseas offshore wind power business, which is rapidly growing each year.

LS Electric is also focusing on pioneering new markets and developing EV parts with smart power distribution and world-class solutions for direct current (DC) and alternating current (AC) products.