[New Year's Address] Koo Ja-eun, LS Chairman: "Let's Grow into a 50 Trillion Asset Group by 2030"

On the 2nd, '2023 LS Group New Year Ceremony and Vision Declaration Ceremony' Held
Vision 2030 Declared

Koo Ja-eun, Chairman of LS Group, is introducing Vision 2030, the group's future blueprint, at the LS Tower auditorium in Anyang on the 2nd.
[Photo by LS]

[Asia Economy Reporter Han Yeju] Koo Ja-eun, Chairman of LS Group, emphasized, "Let us transform from the current asset scale of 25 trillion won into a global market-leading group with assets doubled to 50 trillion won by 2030."

On the 2nd, Chairman Koo held the '2023 LS Group New Year Greeting and Vision Declaration Ceremony' at the main auditorium of LS Tower in Anyang, announcing 'Vision 2030,' the goal and blueprint the group aims to achieve over the next eight years.

The LS Group's New Year Greeting and Vision Declaration Ceremony, held simultaneously online and offline, was attended by about 300 group executives and employees. The event proceeded in two parts: the New Year Greeting (Part 1) and the Vision Declaration Ceremony (Part 2). Chairman Koo and the staff exchanged New Year greetings and shared future growth plans and key management strategies. The event was broadcast live to over 10,000 group employees via the group's official YouTube channel, 'LS TV.'

At the event, Chairman Koo declared the core of 'Vision 2030' as becoming "a key partner leading CFE (Carbon-Free Electricity) and future industries."

He stated, "The common challenge worldwide for the next 30 years can be summarized in one word: 'Net Zero,' and the core of Net Zero is CFE," emphasizing, "The great transition to the CFE era is an unprecedented growth opportunity for LS, whose main focus is the power and energy industry."

Chairman Koo also expressed a strong commitment, saying, "We will boldly invest more than 20 trillion won in future industries over the next eight years."

He identified six future industries: ▲ CFE power generation business (wind power, solar power, ESS) ▲ hydrogen value chain business (infrastructure, storage, distribution) ▲ transmission and distribution solutions business (undersea, ultra-high voltage cables) ▲ CFE distribution business (virtual power plants, demand response, RE100) ▲ data-based platform business (optimal management of power infrastructure) ▲ communication solutions business (communication cables).

He mentioned that the battery, electric vehicle, and semiconductor-related industries hold the greatest growth opportunities and proposed providing customers with core technologies and solutions in four areas: ▲ secondary battery materials business (nickel sulfate, precursors, recycling) ▲ electric vehicle parts and solutions business ▲ manufacturing automation and injection molding solutions business ▲ Charging·Battery·Mobility-as-a-Service business.

Chairman Koo then referred to management strategies, mentioning 'ambidextrous management' and 'agile management,' stating, "Through ambidextrous management, we will firmly maintain and further develop our current businesses while exploring and preempting the yet-untapped future CFE business areas," and urged, "Let us become an organization with pivot capabilities that swiftly and flexibly switch between strategy and execution through agile work methods."

He also presented 'LS Futurist' as the talent ideal for achieving 'Vision 2030,' saying, "LS Futurists will be LS's core assets who lead the future with progressiveness and pioneering new attempts to achieve LS's CFE mission and create results."

Finally, he said, "I will become a platform for LS Futurists and a solid foundation for the group's future leap," and urged the executives and employees, "Please vigorously open the first day of Vision 2030, which ushers in the CFE era, using this platform as a stepping stone."