Vice Chairman Shin Hak-cheol, First Korean Businessman to Chair Chemical and Materials at Davos Forum

Representative of a Group of 30 CEOs... Two Years of Consortium Operation
Shin Hak-cheol: "Creating Opportunities in Eco-friendly Battery Materials and Global New Drugs"

[Asia Economy Reporter Choi Seoyun] Shin Hak-cheol, Vice Chairman of LG Chem, has been elected chairman of the industry consortium under the World Economic Forum (Davos Forum). He is the first Korean businessperson to achieve this.

On the 15th, LG Chem announced that Vice Chairman Shin will participate in the Davos Forum for the third consecutive year. He will assume the chairmanship at the 'Chemicals and Advanced Materials Consortium' session held on the 19th (local time). His term is two years. This is the first time a Korean businessperson has been selected as the representative of one of the 26 industry consortia under the Davos Forum.

The consortium is a gathering of CEOs from over 30 global companies, including BASF and Solvay. Vice Chairman Shin is expected to discuss major issues in the chemical industry such as the weakening of global supply chains and responses to climate change.

Shin Hak-cheol, Vice Chairman of LG Chem, participating as a panelist in the "How to Win the Net Zero Race" session at last year's World Economic Forum.
[Photo by LG Chem]

Vice Chairman Shin was also invited to the 'Informal Meeting for World Economic Leaders (IGWEL),' known as the highlight of Davos. He will participate in the economic session titled 'Proposing Growth Strategies in a Fragmented World,' led by Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), and engage in discussions. The meeting will address the most urgent issues in four areas: energy, economy, geopolitics, and climate.

He plans to join global leadership groups such as the 'Climate Leaders Coalition.' More than 140 global companies, including Swiss Re, a global reinsurance company, and Ingka Group, the parent company of IKEA, participate. Vice Chairman Shin stated, "Within the new economic system initiated by geopolitical conflicts, we will strengthen global cooperative relationships," adding, "We will create sustainable growth opportunities centered on eco-friendly materials, battery materials, and global new drugs."

At the forum, LG Chem plans to meet with about ten customers and partners, including global integrated energy companies, metal companies, and reagent and equipment companies in the life sciences field, to discuss cooperation plans. They will promote strengthening customers' low-carbon competitiveness, eco-friendly sustainable business, battery materials, and nurturing three major growth engines: global new drugs.

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