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September 21, 2019

GS Group braces for low-growth era at strategic meeting

PUBLISHED : August 25, 2019 - 16:38

UPDATED : August 25, 2019 - 16:38

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GS Group Chairman Huh Chang-soo called for preemptive measures to respond to the sluggish economy at a strategy meeting held on Aug. 25 and 26.

Under the theme “Strategies for Growth in Low-Growth Era,” the meeting was attended by some 60 CEOs and managers of group affiliates, the firm said.

 

GS Group Chairman Huh Chang-soo attends a strategy meeting



“I hope this conference will be the first step in providing insights amid the changes and uncertainties we are facing in the low-growth era,” Huh remarked.

At the two-day meeting, Huh addressed ways to cope with the fast-changing economy, citing the need to strengthen internal innovations, understand the consumer trends of the younger generation, and form an agile corporate culture.

He asked the attendees to have a realistic view of the company’s current strategy and system so that the company can internalize its innovation capabilities and set it apart from others.

He also emphasized that GS Group should not be complacent with existing business methods, but needs to study the consumer patterns of millennials and Generation Z.

Huh called for the need to form a more agile corporate culture that better responds to changes in the economy.

“As the business environment gets more complex, we need to respond more efficiently and faster,” Huh emphasized. 

By Cho Hyee-su/The Korea Herald (chohyeesu@heraldcorp.com)

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