[People 人] Authentic 'LG Man' Seeks New Breakthrough in Battery Business Amid Numerous Challenges

Kwon Young-soo, Vice Chairman and CEO of LG Energy Solution
Head of Battery Business Division since 2012
Doubled clients in 2 years
Major contributor to global No.1 in mid-to-large batteries
After becoming CEO of LG Energy Solution
Established direct communication channels with employees
Aimed to boost morale after quality issues

Kwon Young-soo, Vice Chairman and CEO of LG Energy Solution

[Asia Economy Reporter Choi Dae-yeol] "The fact that the chairman sent a close aide means that this affiliate is that important." "It's a newly established young organization, so I'm worried it might give an old-fashioned impression."

When Kwon Young-soo was appointed as the new CEO of LG Energy Solution last month, opinions inside and outside the company were sharply divided. The extreme polarization of opinions is evidence of the high level of interest surrounding Kwon's appointment. It is also because it is rare in the recent business world for Kwon, the undisputed second-in-command within the group and a close aide to LG Group Chairman Koo Kwang-mo, to move to lead an affiliate outside of the regular personnel reshuffle season.

Among employees who have worked closely with him in the past, there were open remarks such as "a tough boss" and "executives and managers will have a hard time." Upon his inauguration, Kwon emphasized that "my dream is the happiness of employees," pledging to listen attentively to the staff. He also created a communication channel to directly talk with all employees worldwide. This seemed like a move conscious of public opinion.

A famous anecdote occurred during the Seoul Chamber of Commerce and Industry chairman meeting in February. At that time, a meeting was held to nominate SK Group Chairman Chey Tae-won as the next chairman of the Seoul and Korea Chambers of Commerce, and Kwon, who was serving as the vice chairman of the Seoul Chamber representing LG Group, attended. When reporters asked Kwon as he entered the meeting, "Do you have any expectations or comments for the new chairman Chey Tae-won?" Kwon replied, "Not really."

It was unclear whether he meant he had no expectations or no comments, but reporters familiar with Kwon's character interpreted it as the former. At that time, the battery lawsuit between SK and LG was in full swing, and tensions between the two groups were high. Kwon was then the Chief Operating Officer (COO) of LG Corp., the group's holding company, overseeing all affiliate businesses. Shortly after, Kwon handed over the vice chairman position of the Seoul Chamber to President Lee Bang-su.

Chairman Koo Kwang-mo of LG Group (right) and Vice Chairman Kwon Young-soo attending the executive workshop

Kwon is currently the only true LG man among the three vice chairmen in the group. He graduated from Kyunggi High School, Seoul National University, and KAIST, and started his career in 1979 at Geumseong Corporation (now LG Electronics). He is a batchmate of Yoo Young-min, former Chief of Staff at the Blue House. At LG Chem, he served as head of the battery business division in 2012, significantly expanding LG's battery business externally. During his two years as head of the battery division, the number of places using LG batteries doubled from about 10 to 20. He is credited with playing a major role in LG becoming the world leader in medium-to-large batteries used in electric vehicles and energy storage systems (ESS).

At that time, medium-to-large batteries used in electric vehicles were not yet highly regarded, but he foresaw their future growth potential. He is known externally for his customer management skills and sharp numerical acumen. His first role as president was as head of LG Electronics' finance division in 2006. He has worked across LG Group's core businesses?electronics, chemicals, and telecommunications?and after the leadership transition to Chairman Koo Kwang-mo in 2018, he focused on reorganizing and strengthening the group's business portfolio from a mid- to long-term perspective as COO. When he was appointed CEO of LG Energy Solution last month, the company emphasized that Chairman Koo regarded him as "the most trustworthy executive."

Batteries are a core business that LG Group considers a new growth engine and a field leading the global market. LG has long dedicated itself to research and development, holding the most patents in the field, and is currently the only company operating battery plants directly in the world's three major electric vehicle markets: the U.S., Europe, and China. It is said that LG is several steps ahead of competitors in both quality and quantity.

However, as the market grows, competition and challenges have intensified. Chinese battery companies, backed by full government support, and Japanese and European battery companies, leveraging technological competitiveness, have stepped up their pursuit. Quality issues have also emerged due to a series of electric vehicle fires and recalls, adding to the burden. This is why Kwon has actively rolled up his sleeves to boost and encourage employee morale. More than 80% of the workforce belongs to the MZ generation (Millennials + Generation Z), who are outspoken and sensitive to treatment and welfare, so he has taken steps to soothe internal concerns. Upon his inauguration, Kwon said, "As it is darkest before dawn, this is a process we must go through in the long run," emphasizing, "If we worry too much, we might miss upcoming opportunities, but we have the strength to turn this crisis into a chance for greater leap forward."

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