GS Group executives' meeting to be held twice a year from now on

The decision follows GS Group Chairman Huh Tae-soo’s emphasis on “new technologies,” as the conglomerate seeks to diversify its portfolio into emerging fields with high growth potential.

GS Group Chairman Huh Tae-soo speaks during an executive meeting on new businesses held on Thursday at GS Tower in Gangnam District, southern Seoul. [GS HOLDINGS]

GS Group is making its annual executives’ meeting on new businesses a biannual event from this year.

The decision follows GS Group Chairman Huh Tae-soo’s emphasis on “new technologies,” as the conglomerate — in which GS Caltex, an oil refiner, has been representing the largest share in the group's entire revenue — seeks to diversify its portfolio into emerging fields with high growth potential.

“The key to a breakthrough during a time of recession and slow growth is new technologies, and we should keep striving to combine GS’s business capabilities with emerging technologies,” Huh said on Thursday during the executive meeting held at the GS Tower in Gangnam District, southern Seoul.

About 70 executives from GS companies, including presidents and those in charge of new growth businesses, attended the meeting to share the progress and strategies for the conglomerate’s future growth engines, such as industrial biotechnology, resource circulation and EV charging.

While the meeting on new businesses has been an annual event since 2022, GS decided to hold the executive meeting twice a year from now on, with its chairman naming this year “the time of opportunities for GS’ new businesses to take a leap forward.”

Huh visited CES 2024, held in Las Vegas earlier in January, as well as GS Futures in San Francisco, the group’s venture investor, in a move that signified the chairman's focus on portfolio diversification.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]