Kwon Young-soo, Vice Chairman of LG Energy Solution, Inducted into the 'Korea Corporate Hall of Fame'

Kwon Young-soo, Vice Chairman of LG Energy Solution

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[Asia Economy Reporter Donghoon Jeong] Kwon Young-soo, Vice Chairman and CEO of LG Energy Solution, was inducted on the 16th into the 'Hall of Fame for Korean Companies' in the Professional Manager category, hosted by the Korean Academic Society of Business Administration.

The induction ceremony was held at Yonsei University Baekyang Nuri Hall in Seodaemun-gu, Seoul, attended by Vice Chairman Kwon Young-soo, Han Sang-man, President of the Korean Academic Society of Business Administration (Professor at Sungkyunkwan University), former President Lee Doo-hee (Professor at Korea University), first recipient in the Professional Manager category Kwon Oh-gap, Chairman of Hyundai Heavy Industries Group, and second recipient Kwon Oh-hyun, Senior Advisor at Samsung Electronics.

Since 2016, the Korean Academic Society of Business Administration has been inducting companies and business leaders who have significantly contributed to Korea's economic development into the Hall of Fame. Since 2020, it has established the 'Professional Manager' category to select managers who have contributed to Korea's industrial innovation and economic growth based on outstanding management capabilities.

Vice Chairman Kwon Young-soo was recognized for his contributions over the past 43 years leading major LG affiliates in electronics, chemicals, displays, and telecommunications, playing a key role in LG's growth into a global top-tier company.

Joining LG Electronics in 1979, Kwon served as Chief Financial Officer (CFO) and then as President of LG Electronics in 2006. In 2007, he took over as CEO of LG Display, which was operating at a loss, and succeeded in turning a 1.5 trillion KRW profit in his first year, growing LG Display into the industry's number one company. In 2012, he became head of LG Chem's battery business division, securing contracts with global automakers and laying the foundation for LG Group's battery business competitiveness. During his tenure as CEO of LG Uplus, despite stagnation in the mobile telecommunications market, he achieved a record 13 million subscribers in 2017.

Known as a 'crisis-resilient innovative entrepreneur,' Kwon was appointed CEO of LG Energy Solution in November last year, leading the battery business, a core future national industry.

In January this year, he successfully led the company's initial public offering (IPO) and is working to expand LG Energy Solution's global production capacity by building battery joint factories with major automakers. He is also accelerating the establishment of smart factories through manufacturing intelligence and securing advanced technologies through research and development (R&D). Additionally, with the belief that 'the most important customers are employees,' he is leading improvements in organizational culture to promote horizontal communication and enhance employee happiness.

On the day, Vice Chairman Kwon Young-soo said, "It is a great honor to be inducted into the Hall of Fame alongside distinguished senior business leaders as a Korean manager," adding, "I will continue to fulfill my duty to create the world's best company trusted and loved by customers through relentless innovation and bold challenges."

President Han Sang-man stated in his remarks, "Vice Chairman Kwon Young-soo is a manager who precisely understands what is most important and is the best leader who created, communicated, and established LG's new corporate culture," explaining the reason for his induction.

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