LG Chem CEO named business council member of Davos forum

LG Chem Vice Chairman and CEO Shin Hak-cheol has been named a member of the International Business Council, part of the World Economic Forum’s annual meeting in Davos, Switzerland, the Korean chemicals firm said Monday.

The WEF, also known as the Davos Forum, kicked off in Switzerland on Monday and goes through Friday. It brings together thousands of leaders from business, government and various other sectors.

LG Chem said that WEF Chairman Klaus Schwab invited Shin to be a member of the IBC, an interactive community of 100 influential chief executives from all industries to discuss globally relevant business issues.

Members of the council currently include Google CEO Sundar Pichai, Amazon CEO Andy Jassy, Aramco CEO Amin H. Nasser, Sony Chairman Kenichiro Yoshida and Tencent President Martin Lau.

The theme of this year's forum is "Rebuilding Trust," which focuses on how to rebuild trust between nations and societies in the wake of global crises.

LG Chem said Shin planned to meet with key customers to strengthen partnerships in three areas: eco-friendly sustainability, battery materials and new drugs. Shin will also participate in the Alliance of CEO Climate Leaders, a group of 120 global companies, including BASF, Volvo, Coca-Cola and SAP, to discuss effective responses to the global climate crisis.

Shin has been attending the WEF since 2021, working on global supply chain cooperation and climate change. In 2023, he became the first South Korean to chair the economic forum’s Chemical and Advanced Materials Industry Community.

"Through the World Economic Forum, LG Chem will continue to collaborate with stakeholders around the world, build new relationships of trust and prepare for the future," said LG Chem CEO and Vice Chairman Shin Hak-cheol.

"LG Chem will continue our growth sustainability so that our customers can experience a better future and differentiated values.”