LX Hausys Holds Regular General Meeting and Reappoints CEO Han Myung-ho

Han Myung-ho, CEO of LX Hausys.

On the 24th, LX Hausys held its 14th regular general meeting of shareholders at its headquarters on Huam-ro, Jung-gu, Seoul, and announced the reappointment of CEO Han Myung-ho as an inside director.

CEO Han was inaugurated as the first CEO when LX Hausys (formerly LG Hausys) was spun off and established from LG Chem in 2009, leading the company's growth until 2012. After stepping down from the CEO position in November last year, he returned as LX Hausys CEO after 10 years.

During his tenure, CEO Han led the development of new businesses such as high-performance PF insulation materials for construction, finished windows, high-insulation low-e glass, and the eco-friendly building material ZEA series. He significantly contributed to laying the foundation for these future growth businesses to become LX Hausys's core operations.

He also established local production bases in key global strategic markets, including the artificial marble factory in Georgia, USA, and the production plant in Wuxi, China. He played a leading role in expanding the business structure, which was previously focused on the domestic market, into overseas markets.

Even after retiring at the end of 2012, CEO Han has remained actively involved in the related industry. Based on his business experience and expertise as a domestic building materials expert, he is expected to play a pivotal role in helping LX Hausys overcome the crisis of economic recession and achieve sustainable growth in the future.

At this shareholders' meeting, LX Hausys newly appointed Park Jang-su, Chief Financial Officer (CFO), as an inside director. They also approved the 2022 financial statements and confirmed dividends of 200 KRW per common share and 250 KRW per preferred share.

CEO Han stated, “Amid this year's crisis situation, including the contraction of the domestic housing market and the downturn in the construction industry, LX Hausys will prioritize improving profitability and focus its capabilities on rebuilding future growth engines. The building materials business will further strengthen its market dominance and transition to a solid profit structure, while the automotive materials and parts business will pursue a turnaround and actively expand overseas operations to overcome the domestic market downturn.”

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