BUSINESS

GS to prepare for the future amid growing uncertainties

By Shim Woo-hyun
  • Published : Apr 19, 2017 - 16:26
  • Updated : Apr 19, 2017 - 18:38

GS Group chairman Huh Chang-soo, who is also the chairman of the Federation of Korean Industries, participated in the group’s quarterly board meeting on Wednesday and emphasized on the need to prepare for the uncertain future.

GS Group Chairman Huh Chang-soo (GS)
Encouraging on the group’s latest achievements, including the implementation of LNG terminal in Boryeong and GS Retail’s investment in K bank, Huh urged the board members to keep improving the overall competitiveness of GS and to prepare for the future by better capturing the changing market.

Quoting ancient Chinese philosopher Xun Zi, the chairman also asked the members to invest their time and recourses from a long-term perspective, “instead of following short-term gains.” He called for a more flexible corporate culture within the group to adjust to industries that are rapidly changing along with new technologies.

Huh also asked GS’ board members to exercise “corporate citizenship,” amid growing economic and political uncertainties, including geopolitical tensions surrounding the Korean Peninsula, as well as potential threats to the economy, such as US trade protectionism, the domestic shipbuilding industry’s restructuring process, the mounting household debt, and high unemployment rate.

“We have to put all-out efforts to revitalize the domestic economy and offer more quality jobs,” he said.

GS Group is currently planning on recruiting a total of some 4,000 during this year. 

By Shim Woo-hyun (ws@heraldcorp.com)