LX, First Topic at Affiliate Presidents' Meeting is "ESG Management"

First Subsidiary Presidents' Meeting After Company Name Change... Chairman Koo Bon-jun and Key Executives of 5 LX Companies Attend

[Asia Economy Reporter Hwang Yoon-joo] LX held its first affiliate CEO meeting under its new name, with 'ESG Management' as the main topic.

On the 27th, LX Holdings announced that it recently held an affiliate CEO meeting at its Gwanghwamun headquarters, where ESG was given significant attention as an important agenda item. Approximately 30 top executives, including CEOs of five subsidiaries under LX Holdings?LX International, LX Pantos, LX Hausys, LX Semicon, and LX MMA?attended. This was the first time that key executives from the affiliates, including Chairman Koo Bon-joon of LX Holdings, gathered in one place.

LX invited Min-ho Lee, head of the ESG Research Institute at the law firm Yulchon, to give a special lecture on 'ESG Management and Implications.' Lee, who has served as Director-General of Environmental Policy and spokesperson at the Ministry of Environment, has participated in the government’s green growth policy formulation and is recognized as an expert in environmental and sustainable development fields. At the meeting, representatives from each affiliate reportedly agreed on the need to concretize ESG management activities for sustainable growth and to use them as a growth engine.

An LX Holdings official explained, "The fact that ESG was the focus of discussion at the first affiliate CEO meeting reflects LX’s determination to emphasize ‘ESG management’ as a keyword for change and leap forward."

Since its inception, LX Holdings has actively taken steps to establish a group-wide ESG management system, including appointing related experts as outside directors. Earlier this month, after changing its name to LX, the company attracted attention by distributing eco-friendly souvenirs to employees of its affiliates with the message, “Let’s strengthen our commitment to ESG practice.” These souvenirs, called the Green Kit, were mostly made from eco-friendly materials, including employee ID cards, ID card cases, and packaging.

The LX affiliates are also attempting changes in line with this. LX International is exploring new business opportunities in overseas renewable energy power projects, carbon emission rights, and waste and waste battery disposal. LX Hausys, which recently signed a strategic business agreement with Shinhan Bank to expand ESG management, plans to continuously invest in developing and producing eco-friendly products and launching energy-saving products.

Additionally, at the affiliate CEO meeting, Seong-hoon Park, the Singapore representative of Boston Consulting Group, suggested ‘change management’ strategies for the newly established holding company system, including growth strategies and approaches to new businesses.

LX’s strategy is to clarify the roles and portfolios of each affiliate and firmly establish early stabilization and a growth foundation. Chairman Koo requested each affiliate’s CEO to "establish LX’s unique mid- to long-term vision and working methods," and to "focus on building a profitability-oriented growth foundation, securing organizational capabilities necessary for mid- to long-term growth strategies, nurturing talent, and establishing organizational culture."

An LX Holdings official said, "We plan to hold affiliate CEO meetings quarterly every year to discuss key management tasks and major achievements of each company, including business environment reviews," adding, "Since representatives from each affiliate participate, it will also be an opportunity to comprehensively review strategic plans to maximize synergy based on core competencies among companies."

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