LG Group Chairman Koo Kwang-mo, right, poses with Tenstorrent CEO Jim Keller at the latter's office in Silicon Valley, June 17. Koo visited the United States for four days to monitor manufacturing facilities and seek fresh growth areas. Courtesy of LG Group

LG Group Chairman Koo Kwang-mo visited the United States to seek future growth engines in artificial intelligence (AI), bio and clean technologies, a preemptive move to boost the firm's group-wide competitiveness in the emerging tech areas, the company said Sunday.

According to LG, Koo traveled on business to the U.S. state of Tennessee and Silicon Valley, California, the country's tech hub, for four days from June 17. The trip was to inspect the firm's manufacturing facilities for consumer electronics and battery cells.

Koo was also briefed on the current status of investment in the next growth areas. Earlier, LG identified the three tech areas as its major growth drivers. Koo visited the headquarters of LG Technology Ventures in Silicon Valley to monitor its investment portfolio and share strategies to strengthen LG's core competitiveness in the tech areas.

LG Technology Ventures operates a fund worth 1 trillion won ($718.9 million). The venture capital arm has invested in around 80 startups and funds worth 500 billion won not just in Silicon Valley, but in other countries, such as Canada and Israel. The company placed almost half of the investment in AI, bio and clean technology companies.

“We need to build a virtuous cycle by continuously developing new business models,” Koo said. “Toward the end, we have to set more successful examples, so more startups and partners seek ties with LG. But the key to unwavering success lies in creating differentiated values for customers.”

He also visited offices of promising AI startups there to be updated on the latest tech advancements. In particular, Koo paid keen attention to a complete AI value chain during a visit to the headquarters of Figure AI, a humanoid robot startup there. He also met with Tenstorrent CEO Jim Keller to exchange views on the AI chip industry, as its usage is rapidly expanding in a number of tech sectors, encompassing consumer electronics, vehicle components and telecommunications.

Before visiting Silicon Valley, he visited Tennessee to inspect manufacturing facilities there. LG identified the U.S. state as its key base to tap deeper into the North American market. In 2018, LG Electronics completed the construction of its consumer electronics plant there.

Starting from March this year, a joint venture between LG Energy Solution and General Motors also started operation for their second factory in Spring Hill in the U.S. state. LG Chem is also scheduled to mass-produce cathode materials for electric vehicles at its factory there from 2026.

“LG needs to strengthen our product portfolio, build tight supply chains and drive innovation in manufacturing processes to overcome any possible changes in trade policies and logistics environments,” Koo said.