LG Group Chairman Koo Kwang-mo listens to an official’s explanation on transparent, flexible OLED panel as Yoon Soo-young, head of LG Display Research Institute, looks on. (Photo: LG Group)

LG Group Chairman Koo Kwang-mo will get a first briefing from CEOs of the group’s subsidiaries in the second half of 2018 since taking office four months ago, with the goal of drawing up a blueprint for the future of the group.

Starting with a business briefing by LG Chem on Oct. 29, Chairman Koo is scheduled to receive 2018 H2 briefings from about 15 subsidiaries on 2018 business performances, 2018 business plans and future preparedness through the end of November.

LG Chem, LG Life & Health, LG Electronics, LG Display and LG Innotek, and LG Uplus are giving briefings in that order. LG Group Chairman Koo, together with LG Corp. Vice Chairman Kwon Young-soo, is to get a briefing from each subsidiary for one day or two to three days to take stock of the group’s future growth engines.

In general, LG Group has held business briefings with each subsidiary biannually. LG Group Vice Chairman Koo Bon-joon presided over a business briefing in October 2017 instead of then Chairman Koo Bon-moon. LG Corp.

Vice Chairman Ha Hyun-hoe, now vice chairman of LG Uplus, got a 2018 HI business briefing before LG Group Chairman Koo took office on June 29.

Chairman Koo’s presiding over the latest briefings will likely have an impact on the upcoming reshuffle of executives slated to take place between late November and early December. Chairman Koo has been keeping a low profile since he took office.

Chairman Koo appears to be more interested in securing future growth engines rather than turning to short-term business performances. In September, Chairman Koo selected LG Science Park as the venue of his first field management inspection.

From there, he looked at next-generation items such as razor head lamps and transparent, flexible OLEDs. Each subsidiary has been asked to prepare for a focus on reporting on new businesses and investment, a group official said.

LG Electronics so far this year acquired global premium automotive lighting company ZKW of Austria, and Korean robot manufacturing firm Robostar. The Korean electronics maker also made strategic investments such as a stake in Korean AI startup Acryl and an investment in US-based robot maker Bossa Nova Robotics.

It was in 2003 that LG Group shifted into a holding company system.

The holding company LG Corp. controls the whole of the group. LG Corp. Chairman Koo has become chairman of the business group following founder-ex chairman Koo In-hoe, honorary chairman Koo Ja-kyung and the late chairman Koo Bon-moo.

LG is the first conglomerate among top 10 business groups in which a fourth generation offering of a business founder has taken office.

Under the stewardship of LG Corp. Chairman Koo, LG Group is most likely to restructure its business portfolio in earnest.

He is predicted to keep on growing the conventional mainstay businesses with a competitive edge such as home appliance and chemical businesses.

On the other hand, the group is forecast to nurture new breed businesses such as bio, energy and automotive electronic parts.