LG Innotek Approves Original Proposal at General Meeting... Jeong Cheol-dong "Focusing on Qualitative Growth This Year"

[Asia Economy Reporter Suyeon Woo] LG Innotek held its 45th regular general meeting of shareholders on the 18th at the main auditorium of its headquarters located in LG Science Park, Magok, Seoul, and approved five agenda items as originally proposed, including the approval of the financial statements and consolidated financial statements.

At the general meeting, LG Innotek reappointed Vice Chairman Jeongnyeon Chae, whose term expires this year, as an outside director, and also reappointed Professor Chae Jun from the Department of Business Administration at Seoul National University as an outside director and member of the audit committee, whose term also expires this year.

Additionally, the approval of the 45th financial statements, the approval of amendments to the articles of incorporation, and the approval of the director remuneration limit were all passed as originally proposed. This year, the company introduced an electronic voting system to enhance the convenience of shareholders exercising their voting rights.

Jeong Cheol-dong, President of LG Innotek and chairman of the board at the meeting, said in his opening remarks, "Last year was more challenging than ever due to the impact of COVID-19 and the contraction of demand in the upstream market. Despite these circumstances, LG Innotek was able to achieve record-high sales and operating profits for the second consecutive year through meticulous analysis of changing factors, proactive responses, and the full dedication of all employees to achieving our goals."

He added, "This year, to become a fundamentally strong company for sustainable growth, we will focus on qualitative growth that can enhance corporate value rather than short-term quantitative growth such as sales. We will accelerate efforts to improve customer value and fundamental business competitiveness, as well as to discover new technologies and growth engines."

Chul-dong Jeong, President of LG Innotek

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