LX Holdings Chairman Koo Bon-joon (LX Holdings)

LX Holdings Chairman Koo Bon-joon said Monday he would enhance the group’s crisis response system in a bid to enhance its responsiveness to business uncertainties at home and globally.

“The year 2024 will be an important inflection point as we prepare for the next three years of LX’s leap,” Koo said during this year’s annual shareholders meeting held at the company’s headquarters in Seoul.

Koo’s comments come as LX Group spun off from LG Group in 2021 with key businesses, including trading, chip design and interior materials.

Koo said the group has made efforts to establish a foundation and framework for future sustainable growth amid the rapidly changing external environment.

Especially last year, the company pursued qualitative growth by improving operational efficiency and diversifying clients across affiliates, he added.

LX also established LX Ventures, a venture capital firm, by investing 12 billion won ($8.95 million) in capital to discover new growth businesses and make strategic investments.

Koo promised to detect quickly changes in the business value chain and promote actively the development of new businesses for the company’s sustainable growth. Additionally, he vowed to pursue various measures to increase both the values of shareholders and the company.

“We will strive to become a sustainable LX that receives trust and love from various stakeholders such as customers, investors, subcontractors and partners by internalizing precision management and ESG management,” Koo said.

Meanwhile, all agenda items, including the reappointment of Koo as an executive director and the approval of financial statements, were approved as planned at this year’s general meeting.