LS Chairman Christopher Koo gives a speech at the 2019 LS T-Fair, designed to share R&D outcomes among the group’s subsidiaries held at the LS Tower in Anyang, Gyeonggi-do, on Sept. 23.

LS Chairman Christopher Koo stressed R&D and innovation are tools to overcome hardships caused by the escalating trade dispute between Korea and Japan. He made the remarks while participating in the 2019 LS T-Fair, designed to share R&D outcomes among the group’s subsidiaries, held at the LS Tower in Anyang, Gyeonggi-do, on Sept. 23.

“If (we) widen the gap with latecomers by developing value-added products in mainstay business sectors and create future growth engines to cope with the trends of the 4th Industrial Revolution, more R&D success stories will be created,” Chairman Koo said.

The LS T-Fair has been held every year since 2004 to ramp up technology competitiveness and spread R&D culture. The 2019 LS T-Fair is the 15th rendition. The latest fair proceeded with the presentation of R&D achievements the group made last year and the announcements of excellent tasks and an awards ceremony. They were televised live to all subsidiaries of the group.

Citing late Ford founder Henry Ford, he said: “When everything seems to be going against you, remember that the airplane takes off against the wind, not with it,” Chairman Koo urged the participants to lead the group’s innovation with creative and challenging energy despite rapid changes of the technology environment such as AI and 5G.

Koo promised that LS Group does not spare efforts to provide resources such as institutional support, culture and opportunities for the successful acceleration of R&D.

Among 400 people on hand at the event were LS Chairman Koo, LS Cable & System Chairman Koo Ja-yeop, CEOs of group subsidiaries, CTOs and researchers.

LS Chairman Christopher Koo gives orders at an exhibition, part of the 2019 LS T-Fair. (Photos: LS Group)

The 2019 LS T-Fair dropped an exhibition of R&D outcomes and introduced events such as media performances, humanities and business lectures and a networking session.

Moon Kyung-soo, a science explorer, gave a lecture under the theme “Taking a different perspective to open a new world.” Senior Executive Vice President Song Ki-hong of IBM Korea spoke on the theme “Industry Disruption and Digital Transformation,” which had a good reception from the audience.

Among the five excellent R&D picks are a bus duct, produced by LS C&S, tailored to meet needs of global markets, and the nation’s first 100-horsepower tractor power shift, produced by LS Mtron.

Three tasks have been selected as success stories of digital transformation. They are a low-power DC circuit breaker for electric batteries and new & renewable energies, and relays, produced by LSIS and a danger forecasting early warning system using IoT, produced by Yesco.

Chairman Koo said, “When I toured Chitose, Hokkaido, Japan, to attend a dedication ceremony for a photovoltaic power plant, our plant was found to be unscathed even if the airport was severely damaged by earthquakes, and I’ve been deeply impressed with a sense of pride for the importance of technology.”

Chairman Koo has adopted “R&D Speed-up” and “Digital Transformation” as strategies to brace for the future. Consequently, each subsidiary of the group has been enhancing efficiency by adopting design and development in the conventional manufacturing sector and AI, big data, digital design, and 3D printing in the verification stage.

LS Group is striving to reshape itself into a digital company by designating and implementing research tasks for digital transformation.

Chairman Koo stressed the importance of communications with executives and staff members of LS Corp., the holding company of the group.

He helds private meetings with LS Corp. officials at restaurants near LS Tower in Yongsan, Seoul, two or three times each month to lend an ear to complaints and grievances and share corporate management policies.