LG Group plans to foster strong leadership among younger employees to fulfill the growing need to secure new human resources and a new organization to stay ahead of the markets, the company said Sunday.

“People and their organization must first change if they are to persistently face challenges to lead the markets,” LG Group chairman Koo Bon-moo was quoted as saying.

Koo said LG will select 500 employees ― 100 as CEO candidates and the rest as candidates for heading business divisions ― early in their LG careers to help establish a pool of next-generation human resources.

Koo made the remarks in a two-day “Global CEO Conference” that gathered together some 40 top LG executives to discuss the next strategic management step. 

The meeting comes as LG seeks to grab an opportunity to turn its nascent key businesses such as LG Electronics around.

The electronics maker, despite its status as the group’s flagship enterprise, registered an operating deficit last year.

LG on Sunday said next generation leaders must be equipped with, a keen business mind, along with leadership skills and a competitive spirit.

In terms of business minds, the company said new leaders must be capable of leading the markets by distinctive consumer value.

“Our new leaders should be seeing both the details and the big picture,” the group said.

LG is known for a collaborative and innovative corporate culture that has kept it at the forefront of a number of industries over the past five decades.

However, it also is cited as weak in the face of crises and lacks competitive spirit, according to critics and its own leadership.

Koo Bon-joon, brother to the LG chairman and newly minted head of LG Electronics, recently said he hopes to toughen the organization by “changing the DNA” of his employees.

By Kim Ji-hyun (jemmie@heraldcorp.com)