LG Koo Kwang-mo "Battery Will Definitely Be Grown as a Core Business"

LG Group Chairman Koo Kwang-mo stated on the 26th at the 63rd regular shareholders' meeting of LG Corporation held at the LG Twin Towers in Yeouido, Seoul, "Industries like batteries are future national core industries and key businesses of the group that must be developed."

Koo Kwang-mo, Chairman of LG Group

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Chairman Koo made these remarks through a written greeting in the business report read by Vice Chairman and Chief Operating Officer (COO) Kwon Bong-seok. He expressed his determination to steadily grow the battery industry by saying, "To this end, we will continuously create innovative solutions in next-generation batteries and process technologies that can overcome market and technological challenges."

He emphasized the importance of the battery business while mentioning compliance management and fostering future core businesses, saying, "We want to further strengthen the two pillars that have made today's LG." Chairman Koo stated, "A shift in perception is needed to regard compliance as a core infrastructure for corporate growth and development, and no member of LG is exempt," adding, "We will advance the compliance system to timely reflect changes in the era and society."

Furthermore, he stressed, "We will actively discover new growth engines and nurture them into LG's representative core businesses through solid investments and technological innovation," and added, "We will not only strengthen the market dominance of our main businesses but also create differentiated value in future fields such as artificial intelligence (AI), bio, and cleantech, thereby firmly establishing the foundation for future growth of our business portfolio." The background for emphasizing compliance and future businesses was cited by Chairman Koo as changes in the management environment due to the reorganization of the global trade order and increasing policy and regulatory uncertainties surrounding companies. He explained, "By 2025, the great axis of the era's order is changing due to shifts in global international relations, economic environments, and the acceleration of technological innovations including AI," and "These changes demand a 'new growth mindset' from LG."

He continued, "Now is the golden time for change and innovation toward a sustainable future," adding, "Understanding the new era's changes, which are on a different dimension from the past, and leading value creation to transform it into industry and create a new journey for customers is the new era's demand."

Regarding Chairman Koo's message, an LG official explained, "Even if the era's demands that companies must meet change according to the new world order, the point that companies must fulfill social responsibilities and foster growth industries to contribute not only to shareholders and customers but also to the nation and society remains unchanged."

Meanwhile, at the LG Corporation shareholders' meeting that day, all agenda items including approval of financial statements, amendments to the articles of incorporation, cancellation of treasury shares, appointment of directors and audit committee members, and approval of director remuneration limits were passed as originally proposed. Vice Chairman Kwon Bong-seok and President Ha Beom-jong were reappointed as inside directors, and Professor Jeong Do-jin of Chung-Ang University's Department of Business Administration was newly appointed as an outside director and audit committee member.

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