Myung Noh-hyun, Vice Chairman of LS Co., Ltd., "Visible Achievements in Secondary Batteries and Electric Vehicle Charging This Year"

55th Annual General Meeting on the 28th
"Strengthening Manufacturing Competitiveness Based on 'Vision 2030'"

Myung Nohyun, Vice Chairman and CEO of LS Corporation, stated on the 28th, "We plan to achieve tangible results this year in new business areas such as secondary batteries and electric vehicle charging solutions, which we entered last year."

At the 55th regular shareholders' meeting held at Yongsan LS Tower in Yongsan-gu, Seoul, Vice Chairman Myung said, "Based on 'Vision 2030,' we will focus on bold execution to strengthen our existing core manufacturing competitiveness." Vision 2030 is LS Group's business strategy to achieve assets of 50 trillion won by 2030, centered on 'Bae·Jeon·Ban (Battery·Electric Vehicle·Semiconductor).'

Myung Nohyun, Vice Chairman of LS, is giving a greeting speech at the '55th LS Annual General Meeting of Shareholders' held on the 28th at Yongsan LS Tower in Yongsan-gu, Seoul. [Photo by LS]

Vice Chairman Myung also mentioned plans to accelerate digital transformation. He said, "To stabilize manufacturing, which is the foundation of LS Group, and secure overwhelming manufacturing competitiveness, we will further accelerate the digital transformation efforts we have been pursuing to improve manufacturing efficiency," adding, "We plan to expand system-based automation to realize the intelligent stage of manufacturing processes."

He continued, "By utilizing digital technologies such as the Internet of Things (IoT) and big data for each affiliate, we will collect and analyze manufacturing data to create new customer solutions."

LS Corporation Shareholders' Meeting.
Photo by LS

He also emphasized efforts to nurture talent that will lead new businesses and new markets. Vice Chairman Myung said, "We will devote significant efforts to securing and nurturing talent that leads the future," and added, "To create sustainable and proper value, we will strengthen the 'LS Partnership.'"

At the shareholders' meeting, agenda items including the reappointment of Koo Ja-eun as an inside director of LS Group, approval of financial statements, reappointment of Jung Dong-min as an outside director, amendments to the articles of incorporation, and approval of the director remuneration limit were all approved as originally proposed.