 |
| LG Group Chairman Koo Kwang-mo, left, checks an experiment equipment related to quantum computing with Xanadu CEO Christian Weedbrook at the Xanadu laboratory in Toronto, Tuesday. Courtesy of LG Group |
By Kim Jae-heun
LG Group Chairman Koo Kwang-mo visited Boston and Toronto to check his company's current business status and future growth strategies in the bio and artificial intelligence (AI) sectors, Korea's fourth-largest business group said Thursday.
Koo's Aug. 21 to 24 business trip to North America to examine future growth engines is part of his long-term plan to expand related businesses internationally.
LG is focusing on AI, bio and clean tech (ABC) businesses as future growth engines and striving to strengthen their capabilities and competitiveness in the market.
LG Chem, a subsidiary of LG Group that manufactures and develops new drugs, established its headquarters, an innovation center for life science business, in Boston in 2019. The company is focusing on expanding global clinical trials of new products and strengthening its commercialization capabilities at its innovation center.
"Looking back on the group's business history, LG has always been preparing for 10 years and 20 years in advance to lead the new industry. For example, we have been investing in technology development for secondary batteries, which is one of our main businesses, for over 30 years," Koo said as he checked the company's strategies for developing new medicines such as anticancer and cell therapy drugs in Boston, Monday.
"LG's bio business is small at the moment, but if we continue to work on it, it will grow into a huge success that represents LG," Koo added.
 |
| LG Group Chairman Koo Kwang-mo, right, discusses the company's AI strategies with employees at LG Electronics' AI Lab in Toronto, Tuesday. Courtesy of LG Grou |
In Toronto, the chairman visited the company's first global AI research center, AI Lab, to discuss the firm's partnership with sister companies in the research and development sector.
AI Lab is currently carrying out industry-academic cooperation projects with the University of Toronto and focusing on precedent research in the AI field under LG Electronics.
LG Electronics plans to adopt the result of advanced research at AI Lab to its smart home and smart car solutions as well as online channels.
"AI is a future game changer that will trigger innovation in all industries and have a great impact on our business structure, depending on how well we prepare for it," Koo said. "We should also fiercely think about what kinds of value we can provide to our customers in their perspective through AI innovation, which should not stop at improving the quality of our products and services."
![[INTERVIEW] How AmazeVR revolutionizes aespa's LYNK-POP concert](https://img.koreatimes.co.kr/upload/thumbnailV2/4431833759c44bdaa414cb314e90f2fe.jpg/dims/resize/178/optimize)
