LS Focuses on 'Stabilization' in Personnel Moves... Vice President Koo Dong-hwi Transfers to LS MnM

On the 21st, LS Group held a board meeting and finalized the 2024 executive appointments based on three pillars: pursuing 'organizational stability' to prepare for an uncertain business environment next year, 'performance-oriented' management, and achieving 'Vision 2030.' Koo Dong-hwi, the third-generation owner of LS and Vice President in charge of Vision Management at LS Electric, will move to become the Chief Operating Officer (COO) of LS MnM.

Vice President Koo Dong-hwi

On the 21st, LS Group announced that it expects a severe business environment in 2024, including high interest rates, high oil prices, and a prolonged low-growth phase, and has stabilized the organization by retaining most CEOs of its major affiliates. However, each company promoted and strengthened organizations in areas contributing to global business growth, while boldly renewing personnel in underperforming sectors.

Oh Jae-seok, Vice President of LS Electric Power CIC, was promoted to President, and Shin Jae-ho, Vice President and CEO of LS Mtron, was also promoted to President. Vice President Oh was recognized for maximizing business value by overseeing LS Electric’s core domestic power business and actively supporting overseas operations, contributing to the company’s best-ever global performance. CEO Shin strengthened North American investments in the core tractor and injection molding businesses, led sustained growth, and was acknowledged for building a long-term growth foundation through IT infrastructure investments.

The group also pushed forward an organizational restructuring of LS MnM, which will play a key role in strengthening execution in the secondary battery materials business to achieve the group’s long-term growth strategy, Vision 2030.

First, LS MnM established the positions of COO (Chief Operating Officer) and the Management Support Division. Koo Dong-hwi, Vice President in charge of Vision Management at LS Electric, will serve as COO of LS MnM. Vice President Koo is regarded as a next-generation leader who has led future growth businesses through his experience at LS Corporation, E1, and LS Electric.

Additionally, Shim Hyun-seok, Executive Director and CFO (Chief Financial Officer) of LS Corporation, was promoted to Vice President and appointed head of LS MnM’s Management Support Division. Executive Director Shim is recognized for his operational management skills in planning and finance. Together, they plan to accelerate LS MnM’s materials business and successfully realize an initial public offering (IPO).

Through the 2024 executive appointments, LS stated that it is preparing for the group’s future growth and plans to lead a carbon-free power era by strengthening business areas related to batteries, electric vehicles, and semiconductors.

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