LG Chem leader to extend chairmanship for global chemical committee

Shin to attend Davos Forum to discuss sustainable future in AI era

By Lee Min-hyung

LG Chem Vice Chairman and CEO Shin Hak-cheol will extend his chairmanship of the Chemical & Advanced Materials Industry Governors of the World Economic Forum (WEF) for another year until 2025, marking the first time that a chairman of the committee has been reappointed, the firm said Sunday.

Shin has served as the committee chair since 2023, generating tangible outcomes in encouraging more Asian firms in the relevant industries to participate in the joint drive for eco-friendly energy and materials transition.

He will fly to the Switzerland city of Davos to attend this year’s WEF, which runs for five days starting Monday, marking his fifth consecutive year of participation.

The upcoming forum will be held under the key theme of “collaboration for the intelligent age,” with a group of 2,700 experts in business, economy, politics and academia in attendance to discuss sustainable future in the era of artificial intelligence.

The WEF decided to extend Shin's term in recognition of his strong global network and leadership among its member companies amid growing geopolitical uncertainties sparked by the incoming Donald Trump administration in the United States.

Shin was also invited as a guest speaker to the Global Plastics Action Partnership hosted by the United Nations Environmental Programme. He will strengthen exchanges with participants to the event under the key theme of circular economy for plastics. As the head of the global chemical firm, Shin will also introduce its eco-friendly materials business strategy during the event.

“Global leading firms unwaveringly prepare for a sustainable future with the focus on low carbon emission and eco-friendly businesses, even if the global uncertainty is escalating rapidly,” Shin said.

“LG Chem will also achieve sustainable growth by securing competitive edges with our three core growth engines, such as battery materials, eco-friendly and sustainability materials.”

Shin will also join the Global Impact Coalition this year for the first time among Korean business leaders and join forces with executives from major chemical firms, such as BASF, to conduct joint projects from investment to research and production in the area of eco-friendly materials.