Most LS CEOs Retain Positions... "Focus on Organizational Stability"

3-Year-Old Gu Bonhyeok Promoted to Yesco Vice Chairman
Gu Donghui Appointed CEO of LS MnM
Gu Bonkwon Elevated to Vice President of LS MnM

Gu Bon-hyeok, the third-generation representative director of LS Group and CEO of Yesco Holdings, has been promoted to vice chairman. Gu Dong-hwi, vice president and CEO of LS MnM, has been appointed as the chief executive officer (CEO). Most non-owner CEOs of major affiliates were retained. LS Group announced that it conducted executive personnel appointments focusing on organizational stability by minimizing the scale of promotions in preparation for the uncertainty of the business environment next year.

Gudonghui, the new CEO of LS MnM. Photo by LS MnM

On the 26th, LS Group held a board meeting and announced that the 2025 executive personnel appointments will take effect on January 1 next year. The group expects the global economic uncertainty to expand next year as well, and decided to maintain organizational stability through the smallest scale of promotions in the past three years. While most CEOs of major affiliates except LS MnM were retained, new CEOs were appointed in affiliates requiring new growth engines in new business sectors to seek change.

First, CEO Gu Bon-hyeok was promoted to vice chairman. He was recognized for his achievement in successfully transforming Yesco Holdings from a general holding company into an investment holding company. He plans to pursue mid- to long-term goals of achieving asset management scale of 1 trillion KRW and corporate value of 1 trillion KRW by 2030.

Vice President Gu Dong-hwi was appointed as CEO of LS MnM. LS MnM appointed Gu Dong-hwi as CEO to successfully promote the 'EVBM Project,' which produces key materials for cathode active materials of secondary batteries. Vice President Gu will lead the battery materials sector, one of the core new businesses in the group's 'Vision 2030' focusing on battery, electric vehicles, and semiconductors. Vision 2030 is LS Group's future plan to increase group assets to more than 50 trillion KRW by 2030, doubling the current approximately 25 trillion KRW. Gu Bon-gwon, executive director of LS MnM, is expected to be promoted to vice president.

LS Marine Solution and its subsidiary LS Buildwin appointed Kim Byung-ok, managing director of LS Cable & System, as the new CEO. Newly appointed CEO Kim Byung-ok will lead the expansion of marine and land cable construction business and strengthen global competitiveness. LS E-Mobility Solution appointed Park Chan-sung, executive director of LS Mtron, as the new CEO. He will lead the EV relay business in the global electric vehicle market, including North America. An EV relay is a component that supplies or cuts off electric energy to the powertrain, which performs the function of driving an electric vehicle.

LS Group regards LS Marine Solution's cable construction business (eco-friendly) and LS E-Mobility Solution's EV relay (electric vehicle) business as core businesses necessary to achieve the group vision 'CFE' (Carbon-Free Electricity).

Research and development (R&D) organization and workforce strengthening will continue to be promoted. LS plans to establish a new R&D general organization to nurture entrepreneurs who lead future growth from a long-term perspective and strengthen manufacturing competitiveness, which is the foundation of the group.

Through next year's executive personnel appointments, LS Group plans to turn crises into opportunities even in a long-term low-growth phase and a highly volatile management environment. The group will accelerate 'ambidextrous management,' which strongly promotes the existing core businesses led by Chairman Koo Ja-eun and boldly challenges new business sectors.

The vice chairman promotion includes one person: Gu Bon-hyeok, CEO of Yesco Holdings. The vice president promotions include two people: Lee Sang-ho (LS Cable & System) and Gu Bon-gwon (LS MnM). The executive director promotions include two people: Choi Se-young (Yesco Holdings) and Kim Hwan (Yesco). The managing director promotions include ten people: Lee Tae-ho, Paeng Soo-man, Park Jin-ho (LS Corporation), Kim Jin-gu, Kang Byung-yoon, Park Seung-gi (LS Cable & System), Cho Joo-hyun (LS Electric), Jang Won-kyung (LS MnM), Choi Young-cheol (LS Mtron), and Park Jong-gu (Gaon Cable).

Newly appointed directors include seven people: Eom Ki-seong (LS Corporation), Kim Dong-young, Park Jin-young, Park Woo-jin (LS Electric), Kwak Sung-seok (LS MnM), Cho Byung-wook (E1), and Kim Un-yong (Superior Essex).