“People·Companions·Family, Our Company's 'Jelchat' Words” … Why LIG Nex1 Focuses on Employee 'Communication' Through Town Hall Meetings?

CEO Kim Ji-chan Spreads 'People-Centered' ESG Management

Fostering Communication and Consideration Culture Between MZ Generation and Executives

Town hall meeting between CEO Kim Ji-chan and MZ generation employees held at LIG Nex1.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] What if the president and employees throw away all rules and meet for open communication?

Attention is drawn to an informal open meeting where management decision-makers invite employees to explain current issues and management topics and listen to their opinions. The company hopes that the organizational "arteriosclerosis" that hinders communication will disappear and that a management culture that clears even small misunderstandings and blockages among employees will spread.

Defense company LIG Nex1 is conducting various communication programs such as town hall meetings to foster a flexible corporate culture in line with the ESG (Environment, Social, Governance) management expansion trend.

LIG Nex1 has been conducting the largest-scale new recruitment in its history to secure key talents who will lead future new growth engine businesses while exporting Cheongung-II to the UAE from the end of last year through this year.

The company hired about 650 new employees, accounting for 17% of all employees, by the end of October this year. Most of the new hires are from the MZ generation born in the 1990s, and the company is igniting the spread of a "communication culture" to bridge generational gaps within the organization and strengthen communication.

One of LIG Nex1's notable communication programs is the "Reverse Mentoring," which has been implemented since last year. "Reverse Mentoring" is a program designed to broaden the empathy between the MZ generation and management.

In 2021, the first "Reverse Mentoring 2021" meeting was held with five executives including CEO Kim Ji-chan and employees born in the 1980s and 1990s.

In 2022, from May for three months, 24 MZ employees and 10 executives participated, forming a total of 10 teams to carry out the "Reverse Mentoring 2022" program activities.

This year, in addition to "Reverse Mentoring," various programs such as "Town Hall Meeting," "Geumdokki Day," "Donghaeng Day," and "Family Day" are being operated to strengthen communication with employees.

This communication is embedded in LIG Nex1's management policy for this year: "Technological Innovation, Sustainable Growth, People-Centered" management.

Earlier, CEO Kim Ji-chan of LIG Nex1 strongly stated in an internal management message, "Through open communication, we will foster a culture of 'respect and consideration' where we trust each other and grow together."

The management is also focusing on communication by strengthening interaction with employees through the company bulletin board. The company explained that executives take turns once a month sharing issues and information from each business division and actively communicating.

Through the town hall meetings conducted since this year, CEO Kim continues informal communication. The town hall meetings embody Kim's management philosophy of "a joyful company, a workplace where people work happily!"

A company official said, "The town hall meeting is not a communication to find answers but a communication program implemented to build a culture where management and employees accept differences and communicate."

As a defense company where personnel from various departments gather and work, LIG Nex1 continues town hall meetings to encourage all members to listen to each other's thoughts and strive to create a positive organizational culture.

The company held two town hall meetings this year. The first town hall meeting involved CEO Kim Ji-chan and MZ generation employees discussing the company's vision, goals, and direction.

The second town hall meeting was promoted as a series by job group considering LIG Nex1's work tendencies and interests. This time, the meeting was held for business division employees, and next year meetings are planned for research institute and production headquarters employees.

LIG Nex1 introduced that it is steadily carrying out ESG activities. Since last year, it has appointed outside directors as chairpersons of the ESG committee and checks the implementation of tasks such as establishing ESG strategies and policies through regular ESG committee meetings held semiannually and occasional extraordinary committees to create social value.

In June, LIG Nex1 received the highest grade "AA rating" for the second consecutive year in the "2022 First Half ESG Evaluation" announced by the domestic ESG evaluation agency Sustinvest, being the only defense company to achieve this.

Also, in November this year, it signed a business agreement with Shinhan Bank to additionally establish a "Win-Win Fund of 10 billion KRW" to support ESG management for partner companies.

CEO Kim Ji-chan said, "In the rapidly changing external environment, securing talent is most important to continue sustainable management," adding, "Through various communication programs, we will build a culture of consideration and communication among employees to create 'a joyful company, a workplace where people work happily.'"