GS Group chairman stresses act of implementing

GS Group chairman Huh Chang-soo called on CEOs and executives of affiliates to streamline their business projects, stressing the importance of timely implementation when uncertainties continue to loom large.

“A key role of business leaders is to have other team members on the same page for business objectives and push ahead with projects, regardless of any challenges and business conditions,’’ the chief of the industrial giant said in the second-quarter meeting with about 150 CEOs and executives of affiliates. 

The chairman has regularly chaired the quarterly internal gathering at the group’s headquarters in southern Seoul.

Noting the bleak outlook for the global economy, he said, “Global growth is projected to continue at a sluggish pace, which makes the world economy more exposed to volatility.’’

Despite the continued global economic slowdown, GS Group, whose main businesses include refinery, construction and retail, continued to grow last year. Sales of the conglomerate rose 11.5 percent to 12.3 trillion won ($11.6 billion) according to FnGuide, a local financial information provider.

As chairman of the Federation of Korean Industries, an association of Korean conglomerates, he pointed out the group’s support and contribution to creating a business eco-system for start-ups through its Jeonnam Creative Economy Innovation Center, located in Yeosu, South Jeolla Province.

The chairman also shared his management insights gained from recent historic matches between Google’s artificial intelligence computer AlphaGo and professional Go player Lee Se-dol.

He stressed on the complimentary features of the two parties, rather than the fears and impact of the advancement of AI.

“I witnessed the two parties became stronger as the five-match game progressed, while learning from each other. Similalry, companies facing industrial transition can become winners if they move and act swiftly based on close partnerships (for synergy effect),’’ he said.

By Seo Jee-yeon (jyseo@heraldcorp.com)