Lee Young-jun, President of Lotte Chemical, "We will accelerate the shift to high value-added"

The 49th Regular General Meeting of Shareholders Held
Appointment of Directors Including Shin Dongbin and Hwang Minjae

Lee Young-jun, CEO (President) of Lotte Chemical, announced that this year they will accelerate the transition of their business structure to focus on high value-added products.

On the 25th, at the 49th regular shareholders' meeting held at the auditorium on the 31st floor of Lotte World Tower in Sincheon-dong, Songpa-gu, Seoul, Lee said, "We will actively promote the ongoing business transformation with a sense of urgency," and added, "We will continue to maintain strict management focused on cash flow." He also stated, "We will continue to carry out company-wide innovation activities to secure fundamental operational competitiveness."

At the shareholders' meeting, four agenda items were presented, including ▲approval of the financial statements for the 49th fiscal year ▲appointment of directors ▲appointment of audit committee members, all of which were approved as originally proposed. The agenda to pay a cash dividend of 1,000 KRW per common share included in the financial statement approval also passed.

As inside directors, Shin Dong-bin, Chairman of Lotte, was reappointed, and Hwang Min-jae, Vice President and CEO of Lotte Chemical Advanced Materials Business, was newly appointed. Kim Jong-geun, Head of Management Innovation Team 1 at Lotte Holdings, was appointed as an outside director.

New outside directors appointed were Cho Hye-sung, a counselor at Daesang, and Seo Hwi-won, former head of the Samyang AM (Advanced Materials) BU (Business Unit). Outside director Seo also concurrently serves as an audit committee member.