Regular Shareholders' Meeting on the 21st
"Must Not Be Complacent Despite Last Year's Record-Breaking Performance"
Gu Ja-gyun, CEO and Chairman of LS Electric, stated on the 21st that he has designated this year as "a year to firmly establish the foundation for ultra-fast growth." He emphasized that the company will focus on securing strong competitiveness to ensure stable growth even after the market boom ends.
At the regular shareholders' meeting held at LS Anyang Tower in Anyang, Gyeonggi Province, Chairman Gu said, "Thanks to last year's global boom, we achieved record-breaking performance," but added, "Record-breaking performance relying solely on the boom can easily turn into the worst-ever performance when a recession comes."
Koo Ja-kyun, Chairman of LS Electric, is speaking at the shareholders' meeting on the 21st. [Photo by LS Electric]
Chairman Gu mentioned plans to improve the company's structure in three aspects: the firm establishment of glocalization (globalization + localization), internalization of convergence, and establishment of a corporate culture suitable for a global company.
LS Electric recorded its best-ever performance last year, with consolidated sales increasing by 25.3% year-on-year to 4.2305 trillion KRW and operating profit rising by 73.2% to 324.9 billion KRW. This was influenced by the expansion of demand in the global power market, centered on North America.
At the shareholders' meeting, all agenda items were approved as originally proposed, including the appointment of Kim Jong-woo, LS Electric Global CIC Chief Operating Officer (COO), and Oh Jae-seok, Power CIC COO, as inside directors, as well as the appointment of Yoon Jeung-hyun, former Minister of Strategy and Finance, as an outside director.
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