Jung Ho-young, President of LGD, "Aiming for Complete Management Normalization This Year... Accelerating the OLED Trend"

[Asia Economy Reporter Suyeon Woo] Jung Ho-young, CEO of LG Display, announced his goal to make this year a year of new leap by achieving complete management normalization.

On the 23rd, Jung made this statement at the 36th regular shareholders' meeting held at the LG Display Learning Center in Paju, Gyeonggi Province. He evaluated that last year LG Display was able to achieve significant performance improvement by intensively promoting three core strategic tasks to strengthen business competitiveness while responding to the surge in non-face-to-face demand triggered by COVID-19.

He then announced a strategy to accelerate the implementation of the three core tasks: ▲ accelerating the mainstreaming of OLED ▲ strengthening the POLED business foundation ▲ structural innovation of LCD, and to establish a foundation for performance creation. Regarding the mainstreaming of OLED, he said, "Based on a diversified product lineup ranging from large-size to medium-size and an expanded customer base, we will focus our capabilities on expanding market dominance and strengthening profitability, and actively pursue discovering various demand channels beyond TV."

LG Display Shareholders' Meeting

Furthermore, Jung emphasized once again that LG Display is pursuing fundamental changes for securing long-term competitiveness and sustainable growth, and that its goal is to become the 'best display solution company' centered on customer value. He said, "Based on innovative technologies and products as well as thorough customer insights, we will strengthen strategic partnerships with existing customers and collaborate with different industries to continuously evolve and develop our business scope and methods."

Lastly, he stressed that he would fundamentally innovate shareholder rights enhancement, communication, and safety management levels. Jung said, "We will create a workplace where the life and safety of all workers at business sites are perfectly guaranteed to enhance the stability of corporate activities and become a company that earns solid trust from shareholders and various sectors of society."

Meanwhile, at the regular shareholders' meeting held that day, following the audit report, business report, and internal accounting management system operation status report, five agenda items including ▲ approval of financial statements ▲ approval of articles of incorporation amendments ▲ appointment of outside directors ▲ appointment of outside directors as audit committee members ▲ approval of director remuneration limits were approved as originally proposed.

As one of the major agenda items, in accordance with the mandatory implementation of separate election of audit committee members, Professor Moon Doo-cheol of Yonsei University’s Department of Business Administration was newly appointed as an outside director who will serve as an audit committee member. Professor Moon, an expert in accounting audit, corporate governance, business ethics, CSR, and public institutions research, is expected to contribute to the company's development by advising on overall management including ESG and financial accounting based on his extensive experience. In addition, Professor Lee Byung-ho, a leading expert in industrial technology in Korea and president of the Korean Information Display Society, was reappointed as an outside director. He is a professor in the Department of Electrical and Information Engineering at Seoul National University.

As part of shareholder-friendly management, LG Display introduced an electronic voting system in a non-face-to-face manner starting from this year’s shareholders' meeting, enhancing shareholders' rights and convenience. Accordingly, shareholders exercised their voting rights on each agenda item by accessing the system via PC or mobile from March 8 to 22, completing authentication without physical or time constraints.

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