Huh Tae-soo, GS Chairman, "Will Actively Pursue Investment and M&A"

Group Second Half Strategy Announcement
Sharing Digital Innovation Cases
Emphasizing Employee Capability Enhancement

On the afternoon of the 17th, GS Group held an executive meeting at GS Tower in Gangnam-gu, Seoul, chaired by Chairman Huh Tae-soo, with about 80 attendees including presidents of major affiliates and executives at the senior managing director level or above, to discuss the management strategy for the second half of the year. This meeting was a significant event presenting the management direction for the second half, reflecting changes in the business environment during the first half, drawing the group's focused attention.

At the meeting, Huh Tae-soo, Chairman of GS Group, emphasized that despite the global economic slowdown and difficulties in key industries, there are good opportunities to promote new businesses, stating, "We will actively pursue investments and mergers and acquisitions (M&A)."

On the afternoon of the 17th, at the GS Tower in Gangnam-gu, Seoul, Chairman Heo Tae-soo expressed the group's commitment to new business ventures during the GS executives' meeting for the second half of the year, urging the acceleration of digital innovation.
[Photo by GS]

Chairman Huh said, "The business environment is at a very severe point, with the global economic slowdown including China and even sectors that have led industries such as petrochemicals, semiconductors, and batteries facing difficulties," but added, "These environmental changes are triggering structural reforms across industries, providing GS Group with an unparalleled opportunity to promote future new businesses."

He also urged, "Executives should not be complacent with current businesses but must develop capabilities to expand into new areas." The meeting lasted about four hours and thirty minutes.

At the meeting, four affiliates?GS Caltex, GS Engineering & Construction, GS Donghae Power, and Parnas?presented cases of digital innovation and AI-based field innovation. These cases attracted significant attention as they were developed directly by field employees without going through IT specialist departments or external developers. Chairman Huh emphasized, "All employees must be familiar with IT development tools such as generative AI and no-code platforms," adding, "Digital innovation is now not just for some IT experts but for all employees."

On the afternoon of the 17th, at the GS Tower in Gangnam-gu, Seoul, Chairman Heo Tae-soo urged the acceleration of digital innovation during the GS executives' meeting for the second half of the year.
[Photo by GS]