Shin Hak-cheol, Vice Chairman of LG Chem, "ITC lawsuit cannot be swept under the rug"

Promise to Foster New Growth, Establish Environmental Safety Systems, and Achieve Carbon Neutrality This Year
Mentioning ITC Litigation, Describes Competitor's Attitude as "Regrettable"

Shin Hak-cheol, Vice Chairman of LG Chem, is speaking at the regular shareholders' meeting on the 25th.

[Asia Economy Reporter Hwang Yoon-joo] Shin Hak-cheol, Vice Chairman of LG Chem, reiterated a firm stance on strong countermeasures regarding the battery trade secret infringement lawsuit with SK Innovation, stating, "We cannot let this matter slide for the sake of customers who believe in fair competition and purchase products that are legally made by companies worldwide dedicated to technology development."

At the LG Chem regular shareholders' meeting on the 25th, Vice Chairman Shin said, "Based on my over 30 years of global business experience, the U.S. International Trade Commission (ITC) not only judged the trade secret infringement at issue in the lawsuit but also mentioned organizational culture, providing clear reasons for a firm ruling against the offender. This reflects a serious recognition of the gravity and significance of this matter."

He added, "In the current global ESG (Environmental, Social, and Governance) management trend, respecting competitors' trade secrets and intellectual property rights is fundamental to corporate operations. However, the competitor does not accept the respected ITC decision under international trade norms and seems to regard the cause as merely due to inexperience in global disputes, which is regrettable." He further stated, "We will respond strictly to ensure compensation commensurate with the damage."

At the shareholders' meeting, Vice Chairman Shin also shared three key goals to be achieved this year to leap forward as a global top chemical company. Specifically, these are: ▲ Accelerating the cultivation of next-generation growth engines such as battery materials, sustainable solutions, e-mobility materials, and global new drugs ▲ Establishing a global top-level environmental safety system ▲ Leading technological innovation for ‘2050 carbon-neutral growth.’

Vice Chairman Shin emphasized, "We will proactively and agilely respond to rapidly changing business environments and accelerate the development of new growth engines. We will establish an environmental safety system capable of responding to even scenarios close to ‘zero’ possibility through multiple preventive measures and create visible results as a leading sustainable management company."

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