KT boss expounds on localizing supply chain

KT CEO Koo Hyun-mo stressed the importance of localizing supply chain when it comes to core components for Korean companies in light of the COVID-19 pandemic, Thursday.

The boss of South Korea’s second largest carrier spoke at a seminar in Seoul in front of some 40 executives of local venture capital companies, the telco said.

Company K Partners chief investment office Kang Soo Lee, Mirae Holdings CEO Kim Pan-gun and HB Investment vice president Park Ha-jin, among others, were in attendance, KT said.

“COVID-19 will require companies to think about supply chain, employee safety, closure of facilities and a sudden drop in demand, that they haven’t done before,” Koo said.

“KT will collaborate with start-ups and venture capital companies in areas such as artificial intelligence to promote social values and bring innovation in this new climate,” he added.