LG Sangsa Expands Business into Eco-Friendly and Healthcare Sectors... Articles of Incorporation Amended at General Meeting

[Asia Economy Reporter Ki-min Lee] LG Sangsa, which is set to separate its affiliates in May this year, is expanding its business areas to eco-friendly, digital, and healthcare sectors.

On the 24th, LG Sangsa held its regular shareholders' meeting at the LG Gwanghwamun Building in Jongno-gu, Seoul, and approved the amendment of the articles of incorporation to add business purposes as originally proposed.

Yoon Chun-sung, Vice President and CEO of LG Sangsa, said in his opening remarks at the shareholders' meeting, "Despite the worsening business environment due to the spread of COVID-19 last year, we recorded improved performance compared to the previous year by strengthening the operational capabilities of existing assets and entering new businesses such as health and hygiene."

He added, "This year, we will maximize management efficiency and advance our business structure to strengthen profitability and market responsiveness, securing new growth engines centered on secondary batteries, healthcare, and eco-friendly sectors."

At the shareholders' meeting, LG Sangsa added or changed seven business purposes, including ▲ installation and operation of waste collection, transportation, and treatment facilities to promote eco-friendly businesses ▲ development and operation of e-commerce, digital content, and platforms in line with the spread of the digital economy ▲ medical testing, analysis, and diagnostic services ▲ tourism and accommodation businesses. This is the first time in 12 years since 2009 that LG Sangsa has amended its articles of incorporation to add business purposes.

Additionally, LG Sangsa reappointed Min Byung-il, Executive Director and Chief Financial Officer (CFO), as an inside director and newly appointed Park Jang-su, Executive Director of LG Corporation, as an outside director at the shareholders' meeting.

On May 1, LG Sangsa will separate from LG Group along with Silicon Works, LG Hausys, and LG MMA, and will be incorporated into LX Group led by LG Advisor Koo Bon-joon.

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