Korean biz chiefs stress new growth, greater responsibility in challenging new year

Hyundai Motor Group Chairman Chung Euisun

New growth and responsible management became common goals for the new year still grappling with challenges from year-long battle with pandemic for chiefs of South Korea’s major business groups.

Hyundai Motor Group Chairman Chung Euisun in an email letter sent to employees on Monday said he expects this year to be the “inflection point” for the group’s growth. He said only those ready for changes can survive in the post Covid-19 market. Chung vowed to lead the company’s growth through hydrogen power and achieve carbon neutrality.

LG Group Chairman Koo Kwang-mo in his message to employees urged the company to build fandom behind LG products by adding “thrilling” value to products and services. He reiterated that an attempt that goes beyond existing system and method makes “small but important difference” and create an impression.

POSCO Chairman Choi Jeong-woo

POSCO Chairman Choi Jeong-woo and Hanwha Group Chairman Kim Seung-youn stressed on sustainable growth. Choi called for becoming a role model in social value creation while Kim pressed on raising the sustainable management level on par with global leaders.

Shinsegae Group Chairman Chung Yong-jin asked employees to make bold movements in confronting challenges, as he suggested this year when the market landscape undergoes radical changes could offer the best opportunity.

CJ Group Chairman Sohn Kyung-shik put strong emphasis on thorough improvement in all business areas. The pandemic has helped the group uncover its weakness in overcoming external impacts, said Sohn as he projected the business environment this year would continue to be challenging. He asked employees in bolstering the company’s capability and making innovative growth to make a leap forward.

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