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| GS Group Chairman Huh Chang-soo |
GS Group should become a more agile and dynamic organization to more effectively cope with rapidly changing business conditions, its chief said Thursday.
The retail and energy-centered conglomerate also needs to invest more to strengthen its core businesses and nurture new growth engines, according to GS Chairman Huh Chang-soo, who stressed the importance of creating decent jobs for young people.
"We are facing a rapidly changing business environment where disruptive innovation and technology convergence have become the norm across industries," Huh told CEOs and other top managers of GS units. "Against such a backdrop, we need to create a highly agile and adaptable organization, and secure the strategic flexibility to quickly revise business plans and allocate resources accordingly."
The chairman expressed concerns over growing geopolitical risks associated with North Korea and other uncertainties, stressing GS should be able to prosper under any circumstances.
"We are facing growing calls to make greater contributions to society. We should find and nurture new businesses by taking advantage of our knowhow and expertise," he said. "GS must capitalize on its strengths to lay the foundations for sustainable growth in the future and generate well-paying jobs for young people."
Huh then stressed the importance of product quality control and safety management to continue to gain trust from the group's business partners and customers.
"Athletes constantly honing their basics perform better and last longer than those who don't. It is the same for companies," the chairman said.
"GS should become an entity that focuses more on improving its fundamentals over a long period of time. This means we should continue to pay attention to ensure product quality, abide by basic work processes and guarantee worker safety. This is a must for us to remain as a sustainable, globally-competitive corporation for a long time to come."
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