LG Chem announced that Independent Director Lee Young-han will participate in an overseas governance Non-Deal Roadshow (NDR) held for global investment institutions in Hong Kong and Singapore on August 13. This marks the first time an independent director is directly engaging in an overseas NDR, whi
LG Chem Independent Director Lee Young-han (Provided by LG Chem)
LG Chem announced that Independent Director Lee Young-han will participate in an overseas governance Non-Deal Roadshow (NDR) held for global investment institutions in Hong Kong and Singapore on August 13. This marks the first time an independent director is directly engaging in an overseas NDR, which is part of the company’s efforts to improve corporate governance.
Moving away from the traditional format of sharing business strategies and management performance, this roadshow focuses on the governance agenda. The main items on the agenda include the current status of the board of directors’ operations, changes following the revised Commercial Act, and the activities of the Compensation Committee. The attendees also consist of stewardship representatives from institutional investors who provide feedback on corporate governance and ESG policies.
Presenting at the event, Independent Director Lee Young-han is an expert in accounting, taxation, and finance. He is currently serving as a professor in the Department of Taxation and the Dean of the College of Liberal Arts and Cross-Disciplinary Studies at the University of Seoul. He was appointed as an Audit Committee member elected separately in March and is currently serving as the chairperson of the Audit Committee. Director Lee plans to share the results of the recent general meeting of shareholders and plans for the advancement of governance with global investors, aiming to build a consensus on measures to enhance corporate value.
LG Chem has recently established a series of institutional mechanisms to enhance the independence and transparency of its board of directors. In November of last year, the company established a Compensation Committee to secure objectivity in the process of determining directors’ remuneration, and in February of this year, it appointed Independent Director Cho Hwa-soon as the chairperson of the board, separating the roles of the chief executive officer and the chairperson. A system is also currently in operation to report the opinions of domestic and foreign investors separately to the independent board members every quarter.
Currently, LG Chem operates a system of six committees in total, including the ESG Committee, the Internal Transaction Committee, and the Compensation Committee. With the exception of the Management Committee, all committees are chaired by independent directors with specialized expertise who perform supervisory functions. Director Lee emphasized that he will fulfill an independent and responsible role to ensure that the voices of shareholders are faithfully reflected in the decision-making process of the board of directors.
LG Chem plans to continuously pursue activities for the advancement of its governance system, such as newly establishing an additional Compensation Committee in 2025.
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