LG Display CEO replaced

LG Chem CEO Kim retained; LG Display’s Kwon moves to Chem’s new battery unit


LG Display named Han Sang-beom, head of the company’s television business division, as its new CEO, replacing Kwon Young-soo, in a reshuffle on Friday.

Kwon will move to head the new battery project unit at LG Chem, which will focus on work related to secondary batteries, such as small batteries, electric car batteries and those used for energy storage, according to LG officials.

Kim Bahn-suk, chief executive and vice chairman of LG Chem, will keep his post leading LG’s chemical arm, one of the world’s leading suppliers of chemicals and car batteries, the officials said.

“Nurture LG Chem’s battery-related projects as you did with the group’s liquid-crystal display sector,” LG Group chairman Koo Bon-moo was quoted as telling Kwon.

The repositioning of Kwon comes as LG Group is striving to develop future growth projects, which was witnessed by chairman Koo’s seven visits to the group’s part-supplying affiliates’ plants throughout this year.

Koo’s most recent visit was made to LG Chem’s LCD glass plant in Paju, Gyeonggi Province, which is preparing for production in the first half of next year.

Through its year end promotion list, the chairman is most likely to publicize LG’s commitment to increase the competitiveness of projects concerning subparts and materials to build foundation as a rising global top firm.

LG has also decided to set the retirement age at 60 for the first time this year in a bid to create a younger company that adapts faster to changes.

As a related measure, the group replaced Lee Hee-gook, 59, CEO of LG Siltron, its wafer-producing affiliate, with Byun Yeong-sam, 53, who formerly served as the company’s executive vice president.

Lee Ung-beom, former executive vice president who has been involved in projects involving high-tech materials and subparts, was also named the new chief executive of LG Innotek.

LG Electronics’ executive vice president Kim Young-gi, who served as the firm’s chief relations officer, was also newly seated as the chief social responsibility officer for LG Group.

Meanwhile, the year end restructuring list for LG’s rival Samsung is projected to be released next week.

By Cho Ji-hyun (sharon@heraldcorp.com)