Jung Cheol-dong, '40-Year LG Veteran' and CEO of LG Innotek, Appointed as New President of LG Display

Board Meeting at 4 PM on the 23rd to Decide
Tech Expert Who Established OLED Production Base

LG Display announced on the 23rd that it has appointed Jung Cheol-dong, President of LG Innotek, as the new Chief Executive Officer (CEO). On the same day, the company held a regular board meeting and announced the results of the 2024 executive appointments, including the appointment of the current LG Innotek President Jung Cheol-dong as the new CEO.

President Jung will officially begin his duties on the 1st of next month. He is expected to be formally appointed as CEO through the shareholders' meeting and board meeting in March next year.

He has worked across LG affiliates in the components and materials sector, including LG Display, LG Chem, and LG Innotek, for over 40 years. He is recognized as a business leader with expertise and management capabilities in business-to-business (B2B) operations and the information technology (IT) field.

After joining LG Semiconductor in 1984, he served as Executive Director in charge of production technology at LG Display, as well as Head of the Production Technology Center and Chief Production Officer. He led the securing of core technologies and innovation in production processes, establishing a stable production foundation for displays such as organic light-emitting diode (OLED). At LG Chem, he served as Head of the Information & Electronic Materials Business Division, stabilizing various new businesses early on.

Jung Cheol-dong, the new Chief Executive Officer (CEO) of LG Display. [Photo by LG Display]

Jung Cheol-dong served as CEO of LG Innotek for five years. He boldly restructured low-growth businesses and advanced the business structure to lay the foundation for qualitative growth. He solidified the global number one position in businesses such as camera modules. He also achieved significant strengthening of the foundation for future growth businesses, including automotive components and substrate materials.

An LG Display official stated, "This personnel appointment is aimed at strengthening the core OLED-centered business in response to changes in the business environment, accelerating the creation of differentiated customer value based on differentiated technology, cost, and quality competitiveness, and promoting qualitative growth."

President Jung Ho-young will retire after continuing to advance the business structure focused on OLED and order-based business expansion despite difficult market conditions and management environment.

Kim Sung-hyun, Vice President and Chief Financial Officer (CFO) of LG Display. [Photo by LG Display]

LG Display also conducted its 2024 regular executive appointments, promoting one to Vice President, one to Senior Executive Director, and newly appointing six as Executive Directors. The company explained that this personnel move focused on appointing talents who have made significant contributions to strengthening business competitiveness and possess potential and capabilities for future preparation.

Chief Financial Officer (CFO) Kim Sung-hyun was promoted from Senior Executive Director to Vice President. He was recognized for his contributions to improving the financial structure through resource input efficiency and working capital optimization, considering changes in the management environment.

Seok Myung-su, Executive Director and Head of LG Display Vietnam Complex. [Photo by LG Display]

Seok Myung-soo, Executive Director and Head of the Vietnam Complex, was promoted to Senior Executive Director. He is evaluated for enhancing production capabilities through the advancement of production operation systems and quality management at the Vietnam subsidiary, as well as early development of local talent.

Additionally, six individuals were newly appointed as Executive Directors, including Choi Nak-bong, who improved the performance and reliability of plastic OLED smartphone panels, and Kwak Tae-hyung, who developed differentiated core materials and new business/new technology core materials for OLED TV cost innovation.

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