Cultivating Future Growth Sectors
Koo Kwang-mo, the CEO of LG Group, has embarked on reviewing the progresses and strategies for cultivating future growth areas like biotechnology and artificial intelligence (AI).
From Aug. 21 (local time) and over the course of four days, Koo visited Boston, the U.S., and Toronto, Canada, to assess market trends in future business sectors. He visited LG Chem’s Life Sciences division in Boston, Aveo Oncology, and LG Electronics AI Lab in Toronto.
In the Boston division, Koo met with Son Ji-woong, the head of LG Chem’s Life Sciences division’ Lee Dong-soo, the head of the Boston branch; and Michael Bailey, CEO of Aveo Oncology. They discussed the direction of new drug businesses, strengthening global commercialization capabilities, and strategies for nurturing Aveo Oncology.
On Aug. 22, he visited Canada to check on AI developments. LG established a global AI research hub, “AI Lab,” in Toronto in 2018. Toronto, home to the globally renowned University of Toronto, is a city specialized in AI research.
On that day, Koo held meetings with Bae Kyung-hoon, the head of LG’s AI Research Institute; Lee Hong-lak, chief scientist of AI (CSAI); and Kim Byung-hoon, CTO of LG Electronics. They discussed the current status of AI implementation in business fields, future R&D directions, and strengthening collaboration among affiliates.
Koo emphasized, “AI will trigger innovation in all industries in the future, and depending on how we prepare, it can be a future game-changer with significant impacts on business structures.” He further stated, “Let’s quickly apply the technologies we’ve acquired so far to turn them into tangible business results in the field and strengthen our competitiveness based on the lessons learned from it.” He encouraged the members by saying, “Take pride in shaping LG’s future and relentlessly pursue its execution. I have high expectations.”