Jung Won-seok, CEO of LG Magna, Awarded the 'Dongtapsanup Medal' on Commerce and Industry Day

"Establishing the Foundation for Growth in LG's Automotive Components Business"

LG Electronics announced that Jung Won-seok, CEO of LG Magna e-Powertrain, received the Bronze Tower Order of Industrial Service Merit at the '51st Commerce and Industry Day' awards ceremony on the 20th. The Commerce and Industry Day ceremony was hosted by the Ministry of Trade, Industry and Energy and organized by the Korea Chamber of Commerce and Industry.

Since 2009, CEO Jung has been laying the foundation for the growth of LG Electronics' new growth engine, the automotive electric and electronic equipment (e-mobility) business, by establishing business strategies for automotive parts in LG Corporation's business development team. In 2021, he led the establishment of LG Magna, a joint venture between LG Electronics and the global automotive parts company Magna.

Jung Won-seok, CEO of LG Magna e-Powertrain.
[Photo by LG Electronics]

LG Magna has established production plants in Incheon, South Korea; Nanjing, China; and Ramos Arizpe, Mexico, producing key electric vehicle components such as drive motors and inverters. Last year, it surpassed 1 trillion KRW in sales and turned profitable.

CEO Jung was recognized for his contributions to enhancing the competitiveness of South Korea's automotive electric parts industry by developing and producing high-quality electric vehicle components and supplying them to global automakers. LG Magna's export sales account for more than 90% of its total sales.

Additionally, CEO Jung is leading efforts to contribute to economic development through the creation of new jobs and maintaining stable employment, as well as practicing corporate social responsibility.

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