LG Electronics (066570) has appointed its first-ever outside director as board chair, significantly strengthening the board's independence.
LG Electronics said on the 23rd that its board passed a resolution to appoint outside director Kang Su-jin as chair.
Kang, the newly appointed chair, is an expert in fair trade and law. She graduated from Seoul National University's College of Law and served as a prosecutor in the Seoul, Suwon, and Daejeon district prosecutors' offices. She also practiced as an attorney at law firms Logos and Yulchon and served as the litigation officer at the Fair Trade Commission. She has been a professor at Korea University School of Law since 2011 and joined the LG Electronics board as an outside director in 2021.
By entrusting the board chairmanship to an outside director for the first time, LG Electronics has established a balanced governance system in which the board operates independently from management to deliberate and decide on key agenda items. The company plans to enhance corporate governance by improving the board's independence and transparency.
Ryu Jae-cheol, CEO of LG Electronics, was appointed as representative director. He will hold official voting rights on key company matters as both a member of management and the board, carrying out responsible management.