Koo Bon-joon: "This Year Marks a Turning Point Preparing for Three Years of LX's Leap Forward"

Gu Bon-jun, Chairman of LX Holdings, declared that he will enhance the crisis response system and thoroughly manage risks.

On the 25th, during the business report greeting at the 3rd General Shareholders' Meeting held at the LG Gwanghwamun Building in Jongno-gu, Seoul, Chairman Gu stated, "This year will be an important turning point to prepare for the next three years that will achieve LX's leap forward."

Chairman Gu said, "Since its launch, LX has made every effort over the past three years to establish the foundation and framework for future sustainable growth despite rapidly changing external environments," adding, "We pursued qualitative growth through operational efficiency and customer expansion, and diversified our business portfolio by strengthening the competitiveness of our core businesses."

He continued, "To discover new growth businesses and make strategic investments, we newly established LX Ventures, a corporate venture capital, and LX International not only strengthened the capabilities of existing businesses but also achieved visible results in securing new assets to reinforce growth engines, such as acquiring LX Glass and Indonesia's AKP nickel mine."

He explained, "LX Hausys improved business performance based on product competitiveness and laid the foundation for growth through overseas business expansion strategies in North America and other regions. LX Semicon, a semiconductor fabless company, maintained its market share in an unfavorable business environment with a shrinking market and reorganized investment strategies for new business areas such as power semiconductors and thermal substrates."

He also added, "LX MMA is improving profitability through operational efficiency in preparation for the continued downturn in the petrochemical market and is expanding sales of high value-added polymer products."

Chairman Gu emphasized, "We will enhance the crisis response system to respond agilely to changes and thoroughly manage risks. We will improve the soundness of the portfolio in terms of business, customers, and regions, strengthen the competitiveness of core businesses through basic capability enhancement, and actively promote the discovery and nurturing of new businesses by quickly detecting changes in the front and back of the business value chain."

At the general meeting, agenda items including the reappointment of Chairman Gu as an inside director, the appointment of directors, approval of financial statements, and amendments to the articles of incorporation were submitted and all passed as originally proposed.