LG Uplus 'Hwang Hyun-sik Era' Officially Begins... 'Qualitative Growth & True Fan' Strategy

At the 25th Annual General Meeting of Shareholders
Appointment of CEO Hwang Hyun-sik Approved
"Establishing a Business Structure for Qualitative Growth"
Urgent Need for Service Innovation in Contactless Environments

[Asia Economy Reporter Cha Min-young] "We will focus on establishing a business structure capable of qualitative growth and creating new growth resources."

Hwang Hyun-sik, President of LG Uplus (photo), has officially been appointed as CEO, marking the beginning of the full-fledged 'Hwang Hyun-sik era.' Appointed as CEO at the end of last year, Hwang is accelerating customer-centric management this year with the core pillars of 'qualitative growth' and 'new business.'

On the morning of the 19th, LG Uplus held its 25th regular shareholders' meeting at the LG Uplus Yongsan office in Seoul and passed the agenda to appoint Hwang Hyun-sik as a director and CEO for a three-year term as originally proposed. Hwang was formally appointed as CEO after the board of directors' approval. The shareholders' meeting also approved all six agenda items, including amendments to the articles of incorporation reflecting the revised Commercial Act and the appointment of other non-executive and outside directors, as originally proposed.

At the meeting, out of a total of 436,211,358 shares with voting rights, 336,587,550 shares (77.09%), including electronic voting and proxies, were exercised, meeting the quorum requirement. The meeting fulfilled the conditions for both ordinary and special resolutions.

Hwang Hyun-sik did not appear at the shareholders' meeting but revealed future strategies through a business report. He noted, "In 2021, the telecommunications market urgently requires service innovation and new growth strategies that fit the non-face-to-face (untact) environment due to customer demand for affordable phones and subscription-based services."

Accordingly, he will focus on improving profitability in the competitive content and solution sectors while seeking new growth engines. Hwang emphasized, "In the business-to-consumer (B2C) area, we will explore possibilities in advertising, data, and subscription services, and in the business-to-business (B2B) area, we will enhance solution competitiveness in smart factories, smart mobility, and New Deal projects." He also plans to boost synergy with group affiliates.

LG Uplus reappointed Kwon Young-soo, LG Chief Operating Officer (COO) and Vice Chairman, as a non-executive director. Professor Yoon Sung-soo of Korea University and Je Hyeon-ju, CEO of Yellowdog, were appointed as outside directors based on recommendations from the Outside Director Candidate Recommendation Committee. Professor Kim Jong-woo of Hanyang University was separately elected as an outside member of the Audit Committee.

The agenda to amend the articles of incorporation was also passed. Provisions related to stock cancellation were deleted to reflect the revised Commercial Act, and changes related to the separate election of audit committee members and voting rights restrictions were incorporated. The approval of the director remuneration limit was also passed.

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