
LG Chem Vice Chairman and CEO Shin Hak-cheol has been reappointed as chair of the Chemical & Advanced Materials Industry Governors at the World Economic Forum, becoming the first leader to extend his term in this position, the company said Sunday.
The reappointment comes as Shin is attending the Davos Forum for the fifth consecutive year, which runs from Monday to Friday. The forum will gather over 2,700 global leaders from business, politics and academia to discuss pressing topics such as rethinking growth, investing in people, protecting the planet and rebuilding trust amid global uncertainty.
Since his initial appointment in 2023, Shin has played a key role in increasing participation from Asia-based companies and promoting international collaboration, LG Chem said. His extended term of one more year is expected to further strengthen cooperation among member companies during a time of geopolitical tensions and economic challenges, including shifts in US policies, the company added.
In addition to his WEF role, Shin has become the first Korean business leader to join the Global Impact Coalition, an alliance of major chemical firms such as Germany’s BASF and Saudi Arabia’s SABIC. The coalition focuses on reducing carbon emissions and developing sustainable business models through joint investments in green technologies.
Shin will also represent LG Chem at the Global Plastics Action Partnership, hosted by the United Nations Environment Programme. He is set to highlight LG Chem’s efforts to advance the circular economy, including innovations in eco-friendly materials businesses, including hydrotreated vegetable oil and supercritical pyrolysis oil.
“Despite growing global uncertainties, leaders remain committed to advancing low-carbon, eco-friendly initiatives for a sustainable future,” Shin said. “LG Chem will prioritize battery materials, eco-friendly materials and sustainability solutions to secure a competitive edge and achieve meaningful, sustainable growth.”
By Park Li-na (linapark@heraldcorp.com)