"Achieving Client Diversification and Significant Increase in Shipments"
Choi Suan Steps Down from CEO, Becomes Vice Chairman
Heo Jehong, CEO of L&F
L&F, a company specializing in secondary battery cathode materials, announced on the 22nd that its board of directors has appointed Heo Jehong, Chairman of the Board, as the new CEO. The newly appointed CEO, Heo Jehong, is the largest shareholder of Saeronix, which holds a 14.29% stake in L&F. He also personally owns a 2% stake in L&F. With the appointment of CEO Heo, L&F plans to strengthen its commitment to responsible management.
During the board meeting, CEO Heo stated, "Over the past two years, we have crossed the chasm, and starting in 2026, we will prioritize diversifying our client base and significantly increasing shipments through technological innovation and dynamic sales strategies." He added, "We will secure a first-mover advantage by successfully launching a new lithium iron phosphate (LFP) business, the first of its kind in Korea."
CEO Heo is a fourth-generation leader from the GS Group and currently serves as CEO of Saeronix, the de facto parent company of L&F. Saeronix was founded in 1968 under the name Jeonghwa Metal by Chairman Heo Hakgu, the second son of the late Heo Manjeong, co-founder of LG Group.
CEO Heo holds a bachelor's degree in chemical engineering from Yonsei University and a master's degree in chemical engineering from the University of Southern California (USC). He began his career at LG Philips LCD (now LG Display).
He served as CEO of L&F for three years from 2018 to 2021. Since 2021, as Chairman of the Board, he has played a key role in establishing the company's mid- to long-term growth strategies, expanding strategic relationships with domestic automakers and overseas clients, and building the foundation for future growth and competitiveness through overseas investments.
L&F expects that with the appointment of CEO Heo Jehong and the transition to a new responsible management system, the speed and quality of executing the company's mid- to long-term strategies will improve starting from the new year in 2026.
An L&F representative commented, "Having overcome the chasm in the secondary battery industry over the past two years, 2026 will mark a pivotal year in which differentiated growth within the industry will accelerate based on technological and marketing competitiveness. At this critical juncture, the transition to CEO Heo Jehong's responsible management system will establish strong ownership, increase the speed and quality of strategic execution, and cement leadership that ensures continued competitive advantage."
Meanwhile, Choi Suan, who has led L&F as CEO for the past seven years, will step down from the front lines of management and assume the role of Vice Chairman.
Vice Chairman Choi, leveraging his expertise since the early days of the secondary battery industry, has driven L&F's growth into a major global cathode materials company through differentiated product strategies and the development of a dynamic corporate culture.
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