LG Chem Shin Hak-cheol, First Reappointment as Chair of Davos Forum Chemistry and Advanced Industries Council

First Korean Business Leader to Join GIC, Pursues New Business Opportunities
Presents Eco-Friendly Material Strategies at UNEP-Hosted GPAP

Shin Hak-cheol, Vice Chairman of LG Chem, will become the first to be reappointed as the chair of the Chemical and Advanced Industries Community at the Davos Forum.

According to LG Chem on the 19th, Vice Chairman Shin will participate in the World Economic Forum (WEF) held in Davos, Switzerland, for the fifth consecutive year starting the next day. The theme of this forum is "Collaboration for the Intelligent Age," where over 2,700 global leaders from academia, the economy, and other sectors gather for discussions.

Since 2023, Vice Chairman Shin has served as the chair of the Chemical and Advanced Industries Community and will extend his term for one more year this year. This is the first case of reappointment as chair of the Chemical and Advanced Industries Community at the World Economic Forum.

Shin Hak-cheol, Vice Chairman of LG Chem, attending the Davos Forum held in January last year. Photo by LG Chem

LG Chem explained, "As uncertainties increase due to geopolitical conflicts and changes in the U.S. administration, the reappointment appears to be aimed at strengthening close cooperation among member companies based on Vice Chairman Shin’s global leadership."

This year, Vice Chairman Shin became the first Korean business executive to join the Global Impact Coalition (GIC), embarking on discovering new businesses to reduce carbon emissions and increase resource circulation. GIC is a management council of over ten leading global chemical companies such as BASF and SABIC, conducting joint investments, research and development (R&D), and production-related collaborative projects on eco-friendly raw materials and substances.

He was also invited as a speaker at the GPAP hosted by the United Nations Environment Programme (UNEP). He will present LG Chem’s eco-friendly material business strategies, including biofuels (HVO) and supercritical pyrolysis oil, and discuss ways to realize a circular economy for plastics with UNEP officials and other attendees.

Vice Chairman Shin said, "Although global uncertainties are rising, leading global companies are unwaveringly preparing for a sustainable future centered on low-carbon and eco-friendly businesses. LG Chem will also secure differentiated competitive advantages based on its three major growth engines and achieve sustainable growth."