Press Release

2021.05.03

LX Holdings Corp., officially launched... Koo Bon-joon appointed as the Chairman & CEO

- On the 3rd, the inaugural general meeting and the board of directors meeting were held, and the personnel of key management were confirmed.

- Chairman & CEO  Koo Bon-joon emphasized through the inauguration speech, 'Let's make a great company together through the '1st DNA,' and our pioneering spirit that sees the world as its stage through people, which is our most precious asset.'

- Based on a robust business portfolio with efficient governance and high growth potential, the company plans to diversify its businesses, improve profitability, achieve robust growth, and maximize shareholder value.

 

'LX Holdings,' a new holdings company established as a spin-off of LG Corp., has officially launched.

LX Holdings held an inaugural general meeting and a board of directors meeting on the 3rd, and announced that it has appointed LG Advisor Koo Bon-joon as the first Chairman & CEO of LX Holdings.

Chairman Koo Bon-joon joined Goldstar Semiconductor in 1985, and served as the CEO of LG Semiconductor, LG Phillips LCD (now LG Display), LG International, and LG Electronics and contributed to the growth of each company; his passion for technology and his bold drive are seen as his strong points.

'The subsidiaries of LX Holdings are leading the domestic fabless, interior materials, MMA, and forwarding market with a '1st DNA' and a pioneering spirit that sees the world as its stage,' Koo said through the inauguration speech. 'Let's create a great company that can become the pride of all of its members through people, which is the most valuable asset of LX.' 

In addition, LX Holdings has appointed president Song Chi-ho (former CEO of LG International) as CEO, exeutive vice president No In-ho (former CHO senior vice president of LG Chem) as CHO, executive vice president Roh Jin-seo (currently executive vice president of LG Electronics Strategy Division) as CSO, and senior vice president Park Jang-soo (currently senior vice president at LG Corporation) as CFO.

'Based on our experience in operating holdings companies and our high understanding of subsidiary businesses, we focused on stably launching the holdings company and swiftly and strategically pushing forward with speed,' said an official at LX Holdings.

With the launch of LX Holdings, LG International, LG Hausys, Silicon Works, and LG MMA were incorporated as subsidiaries and Pantos, a subsidiary of LG International, was incorporated as a subsidiary of a subsidiary. Consolidated sales of the operating profit of the 5 businesses last year, were 16.248 trillion KRW, and 40.25 billion KRW, respectively. The total amount of assets (fair assets) including that of LX Holdings is expected to be around 8 trillion KRW.

LX Holdings plans to introduce customized strategies based on an efficient governance structure and a solid business portfolio with high growth potential to diversify its subsidiaries' businesses, improve profitability, achieve solid growth, and maximize shareholder value. 

Meanwhile, LX Holdings announced its Corporate Identity (CI) and its meaning on its website. LX's 'L' stands for Link, and 'X' stands for the infinite possibilities of the future, and a sustainable future (Next). The names of the five companies that belong to LX Holdings will be changed within the second half of the year after a special shareholders' meeting.

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