LG Group Vice Chairman Koo Bon-joon has warned that the global business environment, and more specifically the group’s first quarter results, will be affected by the protectionist policies adopted by the US, according to a report published by Korea Joon-ang Daily.

“The business environment at home and abroad has been deteriorating, affected by the protectionist trade policies introduced from the beginning of the year. Such uncertainty in the global economy is expected to influence the first-quarter performances of LG affiliates,” he said at an internal corporate seminar.

Koo urged staff to focus on innovation, especially on creating the next hot cosmetics brand as well as analyze their business strategies in light of the fast-changing business environment.