Jung Cheol-dong, President of LG Innotek, "Leading the Market with DX Advancement and Leading Technologies"

LG Innotek Holds 46th Annual General Meeting of Shareholders

[Asia Economy Reporter Jin-ho Kim] Jung Cheol-dong, CEO of LG Innotek, stated on the 23rd, "We will lead the market and customers through 'DX advancement' and 'leading technologies' to become a company that lasts for 100 years."

Jung attended the '46th Annual General Meeting of Shareholders' held at LG Science Park in Magok and made these remarks.

In his greeting, Jung said, "Last year was full of external challenges such as the spread of COVID-19, global supply chain issues, and rising raw material prices," adding, "Nevertheless, LG Innotek achieved record-high sales and operating profits."

Regarding DX advancement, he emphasized, "We will accelerate the Digital Twin initiative to strengthen research and development (R&D) and manufacturing competitiveness," and "We will establish a 'DX ecosystem' where we collaborate as one team with partners in a virtual space to provide world-class quality."

On the aspect of 'leading technologies,' he said, "We will secure core technologies that can lead the market and customers to expand our business areas," and "We will further strengthen our top business position with leading technologies from core components to material units, and successfully lead new businesses such as Flip Chip Ball Grid Array (FC-BGA) and autonomous driving components."

At this shareholders' meeting, all four agenda items, including the approval of the 46th financial statements and the appointment of directors, were approved as originally proposed.

LG Innotek decided to pay dividends of 3,000 KRW per common share, totaling 71 billion KRW. This amount is more than four times the amount compared to 2020. LG Innotek plans to maintain a dividend payout ratio of over 10% until 2024.

Additionally, to enhance board diversity, Professor Hee-jung Lee of Korea University Law School was newly appointed as the first female outside director and audit committee member. Professor Lee serves as president of the Korea Information and Communication Policy Society and as a reviewer for the KOSDAQ Market Committee, and is an expert with extensive knowledge and practical experience in various fields.

Furthermore, Jun-hong Ahn, Executive Director of LG, who has long worked at LG and possesses insight into the characteristics of materials and components sectors and the global market, was newly appointed as a non-executive director. CEO Jung Cheol-dong was reappointed as an inside director, and Sang-chan Park, outside director and head of the Department of Technology Management at SUNY Korea, was reappointed.

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