Lee Jeong-ae, President of LG Household & Health Care, "Will Overcome Two Years of Slump... This Year Marks a New Growth Turning Point"

LG Household & Health Care Holds Annual General Meeting of Shareholders

Lee Jung-ae, CEO of LG Household & Health Care, pledged at the shareholders' meeting that "this year will be a turning point for new growth, shaking off the sluggishness of the past two years."

At the 23rd regular shareholders' meeting of LG Household & Health Care held on the morning of the 26th at the LG Gwanghwamun Building in Jongno-gu, Seoul, Lee presided over the meeting and said in her greeting, "We have been continuously making efforts to create structural changes and opportunities for a turnaround through new attempts."

On the morning of the 26th, LG Household & Health Care's 23rd Annual General Meeting of Shareholders is being held at the LG Gwanghwamun Building in Jongno-gu, Seoul. [Photo by LG Household & Health Care]

She also mentioned that the economic downturn originating from China negatively affected the performance last year. Lee said, "Contrary to initial expectations, 2023 was a very difficult year as the Chinese economic downturn prolonged," adding, "It was a time when the importance of proactive preparation for market and customer changes and continuous investment became even more significant internally."

LG Household & Health Care reported consolidated sales of 6.8048 trillion KRW and operating profit of 487 billion KRW last year. Compared to the previous year, sales decreased by 5.3%, and operating profit fell by 31.5%.

At the regular shareholders' meeting, a total of four agenda items were presented and all were approved as originally proposed: ▲approval of the 23rd financial statements ▲approval of amendments to the articles of incorporation ▲appointment of directors ▲approval of the limit on directors' remuneration. With the approval of the financial statements, LG Household & Health Care decided to pay a year-end cash dividend of 3,500 KRW per common share and 3,550 KRW per preferred share.

Regarding the appointment of directors, the agenda to newly appoint Executive Director Lee Myung-seok as an inside director and to reappoint President Ha Beom-jong, Head of LG Corporation’s Management Support Division, as a non-executive director was passed.