LS Chair calls on group to continue innovating

Koo Ja-yeol

The LS Group should focus on research and technological innovation to overcome the mounting trade conflict between Korea and Japan, said its Chairman Koo Ja-yeol.

“As the trade dispute between Korea and Japan escalates, the key factor in resolving the issue is [research and development] (R&D) and innovation,” Koo said Monday to employees during LS T-Fair, an in-house annual event by LS Group started in 2014 to encourage innovative engineers.

“We have to create more successful R&D cases in order to widen our lead against competitors with high-quality products and services and be capable of creating future growth engines in line with the fourth industrial revolution.”

Since 2015, Koo has been focusing on R&D and digital transformation as the group’s key strategy for the future. He has called on subsidiaries to increase their operational efficiency by using advanced technologies, like artificial intelligence, big data, digital design and 3-D printing.

This year’s LS T-Fair, attended by 400 executives and researchers from the conglomerate, recognized eight projects of LS Group’s subsidiaries, including Korea’s first 100-horsepower powershift transmission for a tractor made by LS Mtron and LS Cable & System’s new bus duct system.

BY KO JUN-TAE [ko.juntae@joongang.co.kr]