Shin Hak-cheol, Vice Chairman of LG Chem, Named One of the 100 Global Economic Leaders by the Davos Forum

Appointment of International Business Committee Members
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Shin Hak-cheol, Vice Chairman of LG Chem, has been selected as one of the 100 economic leaders representing the World Economic Forum (WEF, Davos Forum). At this year’s forum, Vice Chairman Shin will meet with global clients and partners to discuss cooperation plans for overcoming global supply chain challenges and the climate crisis.

LG Chem announced on the 15th (local time) that Vice Chairman Shin Hak-cheol will begin his activities with the International Business Council (IBC) at the World Economic Forum Annual Meeting in Davos, Switzerland, held from the 15th to the 19th.

This year, Shin Hak-cheol was officially invited by the WEF Board of Trustees and the IBC Executive Committee to become a full member of the IBC. The IBC is a consultative body composed of about 100 representatives from various sectors of the economy. It is regarded as an advisory group leading the World Economic Forum and a gathering of the most influential leaders in the economic sector.

The IBC includes global business leaders such as Sundar Pichai, CEO of Google; Andy Jassy, CEO of Amazon; Amin H. Nasser, CEO of Aramco; Kenichiro Yoshida, Chairman of Sony Group; and Martin Lau, Chairman of Tencent.

Vice Chairman Shin said, "Through the Davos Forum, I will collaborate comprehensively with global stakeholders, build new trust relationships, and prepare for the future. Even amid rapidly changing external environments, we will continue sustainable growth so that our customers can feel a better future and differentiated value."

Shin Hak-cheol, Vice Chairman of LG Chem. Photo by LG Chem

Having attended the World Economic Forum since 2021, Vice Chairman Shin has been recognized for his efforts in global supply chain cooperation and climate change response. In 2023, he became the first Korean business leader to be appointed as Chair of the Chemical & Advanced Materials Industry Governors, a council under the Davos Forum, and has been actively engaged in this role.

The World Economic Forum stated, "We are honored to invite Vice Chairman Shin as an IBC member," adding, "We expect Shin Hak-cheol to lead change across global value chains and create collective impact."

This year’s Davos Forum theme is "Rebuilding Trust," focusing on ways to restore trust between nations and societies shaken by global crises.

Vice Chairman Shin plans to meet with key clients to strengthen partnerships in three major growth areas: eco-friendly sustainable business, battery materials, and global new drugs. He will discuss renewable energy transition and decarbonization cooperation with global integrated energy companies, research and development of next-generation battery materials with global battery material companies, and collaboration with reagent and equipment companies in the life sciences sector, planning to engage with about ten companies in total.

Vice Chairman Shin will also participate in the Alliance of CEO Climate Leaders, which consists of over 120 global companies including BASF, Volvo, Coca-Cola, and SAP, to discuss effective response measures to the global climate crisis.