[New Year's Message] Shin Hak-cheol, Vice Chairman of LG Chem, "2020 is the 'Year of Execution'... Focused on Battery and Automotive Materials"

Shin Hak-cheol, Vice Chairman of LG Chem

[Asia Economy Reporter Park So-yeon] Shin Hak-cheol, Vice Chairman of LG Chem, declared 2020 as 'The Year of Execution.'

In his New Year's address on the 2nd, Vice Chairman Shin stated, "We will actively implement the four major change initiatives."

First, he emphasized, "Let's strengthen a market- and customer-centric portfolio," adding, "We must boldly break away from past growth methods and competitive strategies, thoroughly innovate our business approach centered on the market and customers, and enhance our Commercial Excellence capabilities."

He continued, "Let's accelerate performance-driven R&D innovation linked to the portfolio," saying, "We need to focus more on developing future projects that can impress customers and markets, especially in the rapidly growing battery materials and automotive materials sectors, and firmly establish foundational technologies to strengthen the competitiveness of nurturing businesses."

Additionally, he stressed, "By actively utilizing big data, AI, and further promoting open innovation, we should maximize the potential of R&D personnel and improve R&D efficiency."

Vice Chairman Shin said, "Let's enhance efficiency across the entire value chain," and added, "To maximize the efficiency of all our assets, we must actively utilize digital transformation (DX) and Lean Six Sigma."

He expressed his desire to "make LG Chem an innovative company leading the DX trend," stating, "We will establish a company-wide DX vision and implementation system, discover and execute innovative projects incorporating DX across all areas, and actively use DX to maximize overall efficiency."

He then pledged, "Let's build talent, leadership, and organizational culture befitting a global company," saying, "We will make every effort to spread 'inspiring leadership' and 'leadership that constantly studies and leads change' that can excite employees worldwide."

Finally, he mentioned, "We must make sustainability a core competitive advantage," saying, "Sustainability is no longer an option but a condition for corporate survival."

He added, "We must actively participate in solving various global issues such as compliance, environment, human rights, and ethics, and create sustainability as a differentiated value unique to LG Chem across the entire value chain from raw materials, production, consumption, to disposal."

This content was produced with the assistance of AI translation services.