LG Corp. and LG Uplus Appoint Female Outside Directors... Five LG Affiliates Nominated

(LG Corp., Executive Officer Lee Su-young of Eco Management Korea Holdings
LG Uplus, Proposal to Appoint Je Hyun-joo as CEO of Yellowdog Submitted to Each Company's General Meeting)

Executive Director Soo-young Lee of Eco Management Korea Holdings, appointed as a female outside director by LG Corporation (left), and Jae Hyun-joo, CEO of Yellowdog and female outside director candidate for LG Uplus
[Photo by LG Group]

[Asia Economy Reporter Kim Heung-soon] LG Corporation, the holding company of LG Group, and the mobile carrier LG Uplus have selected female outside director candidates. With this, five listed affiliates of LG Group have nominated female outside directors.

LG Corporation announced on the 4th that it will propose the appointment of Lee Soo-young, an executive at Eco Management Korea Holdings Co., Ltd., as an outside director at the upcoming regular shareholders' meeting on the 26th. Lee, who has served as CEO of Kolon Eco One Co., Ltd., an environmental services company, is an expert in the environmental field and is expected to provide advisory roles related to ESG (Environmental, Social, and Governance) management, a recent hot topic in the business community.

LG Uplus also announced on the 3rd that it will appoint Je Hyeon-ju, CEO of the venture capital firm Yellowdog, as a candidate for outside director. The company explained that Je is expected to provide advice on technology and industry trends, leveraging her experience investing in startups that help solve social issues.

Earlier, on the 25th of last month, LG Electronics, LG Hausys, and G2R announced the appointment of female outside director candidates: Kang Soo-jin, professor at Korea University Law School; Seo Soo-kyung, professor in the Department of Environmental Design at Sookmyung Women's University; and Choi Se-jung, professor in the Department of Media at Korea University, respectively.

From August next year, an amendment to the Capital Markets Act will be enforced, prohibiting listed companies with assets exceeding 2 trillion won from composing their boards of directors with only one gender. LG plans to appoint female outside directors in these five companies this year and also plans to appoint female outside directors at LG Chem, LG Household & Health Care, LG Display, and LG Innotek next year.

An LG official stated, "We plan to enhance board diversity and transparency by expanding the participation of female experts with outstanding capabilities in various fields, thereby improving corporate value in the mid to long term."