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GS Chairman says group must always stay flexible

Oct 19,2017
Huh Chang-soo
GS Group Chairman Huh Chang-soo stressed the need to adopt “strategic flexibility” in the rapidly changing business environment, vowing to make bold and constant investments as he addressed executives on Wednesday.

“We are experiencing the age of acceleration, when various innovative technologies integrate with each other as well as bring in other changes and disruptive innovation has become a daily routine,” he said. “Under this circumstance, we should be equipped with strategic flexibility that makes nimble revision of strategies possible according to the changing market situation and adequately distribute resources.”

The chairman was citing “Thank You for Being Late: An Optimist’s Guide to Thriving in the Age of Accelerations,” a book published last November by New York Times op-ed columnist Thomas Friedman. The publication deals with the mega changes when it comes to computing power, the global economy and the environment.

In a related move, GS Home Shopping, a home shopping subsidiary, has received robust investment and is collaborating with start-ups by launching a campaign titled “Grow with GS.”

Huh was addressing a quarterly meeting with some 150 executives from GS subsidiaries at GS Tower in western Seoul on Wednesday.

Huh, who also chairs the Federation of Korean Industries, a business lobbying group that has been transforming into a think tank, went on to say that the group should step up competitiveness in the fields it is already good at and administer bold and constant investments to create future growth drivers.

He also stressed that the top priority in performing business is the culture of sticking to principles and carrying out fundamentals, which could only help the conglomerate gain confidence from not only employees but also customers and the market.


BY SEO JI-EUN [seo.jieun@joongang.co.kr]


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