LG Group, the country’s fourth-largest conglomerate, announced its year-end executive reshuffle on Friday, seeking to infuse the top brass with younger blood. From Wednesday to Friday, affiliates of LG Group held board meetings to appoint three new chief executive officers and promote 136 executives. Among the 99 to become executives, 97 of them were born after 1970 and five were born in the 1980s, the conglomerate said. “The latest executive reshuffle sought to reform the leadership

South Korean conglomerates are set to carry out regular reshuffle of executives to gear up for the coming year, starting with LG Group this week. Samsung Electronics, SK Group and Hyundai Motor Group, the top three conglomerates in order, are expected to conduct their regular executive reshuffles as late as early December. On Thursday, LG Display appointed Jeong Cheol-dong, currently LG Innotek president as its new chief executive officer in the regular reshuffle on Thursday. Jeong is an LG vete

LG Display appointed Jeong Cheol-dong, currently LG Innotek president as its new chief executive officer in a regular reshuffle on Thursday. The display panel maker said its board of directors appointed Jeong, an LG veteran who has served at a number of LG Group affiliates including LG Display and LG Chem for 40 years, as its new CEO in the board meeting earlier in the day. Jeong will start his work at LG Display from on Dec. 1 and the appointment will be made official at the general shareholder

LG Innotek, an electronic component manufacturer under LG Group, said Sunday that it had earned three international patents in the field of electric vehicle charging. “To leap forward as a No. 1 global company, it is essential to systematically manage and secure international patents and intellectual property rights for core technology,” said Kim Jin-hyun, head of the intellectual property division of the company. “Through our continuous R&D efforts in the field of IP, we w

LG Group Chairman Koo Kwang-mo reportedly convened some 30 CEOs on Tuesday to discuss the group's longer-term strategies ahead of the weeklong Chuseok holiday. Top executives of key affiliates, including LG Electronics, LG Display, LG Innotek, LG Chem and LG Energy Solution, attended the annual workshop that took place at LG Academy in Icheon, Gyeonggi Province, according to news reports. For Koo who took office in 2019, this marked the fifth occasion to convene the meeting. The event was h

LG Innotek CEO Jeong Cheol-dong joined the “Zero Disposables Challenge,” an environmental initiative launched by the Ministry of Environment in February to encourage the use of reusable items in public, the firm said Monday. The campaign typically involves CEOs posing for a photo, signaling their commitment to slashing single-use plastic waste. The photo is then posted on social media platforms, with the CEO naming the next participant. Since its launch, a number of key business le

Following President Yoon Suk Yeol’s visit to Indonesia for the South Korea-Association of Southeast Asian Nations summit, South Korean conglomerates’ chiefs embarked on a business trip to the emerging country to boost cooperation on electric vehicles and construction projects, industry sources said Thursday. Business leaders including Hyundai Motor Group Executive Chair Chung Euisun, LG Group Chairman Koo Kwang-mo, Lotte Group Chairman Shin Dong-bin and LS Chairman Koo Ja-eun were

Signed a direct Power Purchase Agreement (PPA) with SK E&S for purchasing 10MW renewable energy every year Reducing 6,000 tons of greenhouse gases every year... effect of planting 900,000 pine trees Speeding up the roadmap for implementing '2030 RE100' by purchasing REC at the same time SEOUL, South Korea, Aug. 29, 2023 /PRNewswire/ -- LG Innotek has announced on the 29th that it signed a direct PPA(Power Purchase Agreement) with SK E&S as part of ways to achieve '2030 RE1

Achieved 20% carbon neutrality within one year after the declaration and increased shareholder-friendly policies such as the 10% dividend payout ratio Increased investment in R&D by 33% from the previous year to strengthen the competitiveness of future business SEOUL, South Korea, July 21, 2023 /PRNewswire/ -- LG Innotek (CEO Jeong Cheol-dong) announced on the 21st that it had published the '2022-2023 Sustainability Report' that covers the performance of ESG (Environmental&mid

LG Electronics announced Wednesday its vision to transform into a "smart life solutions company" to expand customer experience, to take a leap from its core identity as a top home appliance brand. The tech giant also set the goal to achieve a global annual revenue of 100 trillion won ($77.5 billion) by 2030, and vowed to invest 50 trillion won to drive the growth. "LG will continue to pursue its bold vision to transform and leap forward as a smart life solutions company that con

LG Innotek becomes the first Korean company to win the JLR Supplier Excellence Award in 2023 LG Innotek maintains JLR Quality Certificate (JLRQ) for three consecutive years JLR "LG Innotek's effort to continuously improve their products also improves JLR's products" SEOUL, South Korea, July 3, 2023 /PRNewswire/ -- On July 3rd, LG Innotek announced that the company has received the esteemed "Supplier Excellence Award" from the luxury automotive brand, Jaguar L

LG Innotek said Monday that it has won the 2023 Supplier Excellence Awards from the UK luxury carmaker Jaguar Land Rover, becoming the first Korean firm to be named as a qualified supplier. The electronics component manufacturer became the winner of the "impact" category at the British carmaker’s annual awards for its outstanding quality of components and compliance with delivery dates. JLR has selected top-performing suppliers each year and has recognized their extraordinary con

Launched a new flexible stereoscopic automotive lighting product Brighter and more uniform lighting... Improving design flexibility with thin width Ramp up market occupation targeting premium vehicles SEOUL, South Korea, June 9, 2023 /PRNewswire/ -- LG Innotek (CEO Jeong Cheol-dong) has announced on the 9th, June that it has developed 'Nexlide-M,' a flexible stereoscopic automotive lighting. ‘Nexlide-M’, a flexible stereoscopic automotive lighting module launched

LG Innotek said Wednesday it has developed a new flexible three-dimensional lighting module for vehicles. Dubbed "Nexlide-M," the product boasts brighter, clearer and more uniform light emission, making it more visible in daylight, the company said. "The Nexlide-M is the whole package -- it has excellent functions and beautiful design," said Yoo In-soo, head of LG Innotek's Motor and Lighting business. In particular, it is able to emit clearer light while with minimal nu

7mm magnetic component for TV power module…opening the era of 2cm ultra-slim/ultra high-definition TV The key is 'High-efficiency Ferrite (X-2)' independently developed by utilizing AI 40% reduction in energy loss, 3 times increase in power density…Enabling slim magnetic component "Advanced development of future innovative materials will be continued…Differentiated customer value will be created" SEOUL, South Korea, April 27, 2023 /PRNewswire/ -- On the 27th, LG Innot