(사진= LG디스플레이)

 

[Alpha Biz=(Chicago) Reporter Kim Jisun] On the 21st, Ho-Young Chung, CEO of LG Display, said, “We have been focusing on advancing our business structure with the recognition that preemptive and strategic selection of areas to focus on for sustainable growth and stable profit generation and core competencies to support them are essential, and we will accelerate this further in the future.”

Chung said in a shareholders' letter at the 38th regular shareholders' meeting held at the LG Display Learning Center in Paju.

President Chung explained, "We are expanding our 'order-type' business that can operate water and price stably through close cooperation with strategic customers based on differentiated competitiveness."

The sales portion of the order business, which was 11% in 2019, has expanded to the early 40% range this year, and the goal is to achieve 70% within the next 2∼3 years.

"We will reorganize the operating system of the 'supply-demand' business, which is sensitive to market changes, and further strengthen our position in the premium TV market in the large OLED business sector," CEO Chung said. "We will push for a 'market-creating' business focusing on transparent and gaming displays to secure future growth engines."

At the shareholders' meeting, four agenda items, including approval of financial statements, were approved as originally planned.

As a result, Chung was re-elected as an in-house director, while Oh Jung-seok, a professor at Seoul National University's business school, and Park Sang-hee, a professor of new materials engineering at KAIST, were appointed as new outside directors.

The director's compensation limit was 4.5 billion won, down 1.5 billion won from a year earlier, considering the expected execution amount due to changes in management performance this year.

 

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