■ LOTTE Group Chairman Shin Dong Bin, LOTTE Chemical President & CEO Kim Gyo Hyun, and LOTTE Chemical's Basic Chemicals President Hwang Jin Koo were reappointed as executive directors
■ Kang Jong Won, head of the Financial Innovation Division (CFO), was appointed as the new inside director and attorney Cha Kyung Hwan was appointed as the new outside director
■ Dividend of KRW 3,500 per share, total dividend of KRW 119 billion approved
■ Kim Gyo Hyun, LOTTE Chemical President & CEO, "Preemptive securing of future technologies such as strengthening development of high value-added products, and qualitative changes such as portfolio reorganization, etc., will prepare the basis for stable profit generation in the petrochemical business"... “We will actively promote future new growth businesses set in advance and expand meaningful new business areas by creating a hydrogen business ecosystem and expanding our battery material business portfolio.”

LOTTE Chemical (Kim Gyo Hyun, President & CEO) held the 47th annual shareholders' meeting on the 31st floor of LOTTE World Tower in Jamsil, Seoul on the 29th (Wednesday) at 9:00 am and proposed four agenda items including ▲approval of the 47th financial statement ▲appointment of directors. It said that all of them were approved according to the original plan.

At the shareholders' meeting on this day, Chairman Shin Dong Bin, Vice Chairman Kim Gyo Hyun, and Basic Chemicals President Hwang Jin Koo were reappointed as inside directors. In addition, Kang Jong Won, head of the Financial Innovation Division (CFO), was appointed as a new inside director. As a new outside director, attorney Cha Kyung Hwan of Pyeongan law firm was appointed.

In addition, a dividend of KRW 3,500 per share of common stock and a total dividend of KRW 119 billion will be approved, and the company will continue to make efforts to enhance shareholder value and strengthen profits.

Kim Gyo Hyun, LOTTE Chemical President & CEO, said, “We will lay the foundation for stable profit generation in the petrochemical business through preemptive securing of future technologies such as strengthening development of high value-added products and qualitative changes such as portfolio reorganization, and by creating a hydrogen business ecosystem and expanding the battery material business portfolio, we will actively promote new growth businesses that we have set and expand meaningful new business areas.”

The 47th Annual Shareholders' Meeting – Greetings from Vice Chairman Kim Gyo Hyun

Last year, we recorded poor management performance in difficult business environments such as the blockade of the covid, the prolongation of the Russia-Ukraine war, and the rise in raw material prices. Nevertheless, as a result of the passion and efforts of all executives and employees, the company set a new future growth direction and took on the challenge to achieve it without a hitch.

The business environment we face in 2023 is still an extension of last year. However, we intend to prepare for the year to overcome current issues and lay the foundation for sustainable growth based on an appropriate vision and systematic action plan. We will explain the main promotion strategy that we will promote.

First, we will lay the foundation for stable profit generation in the petrochemical business through qualitative changes such as preemptively securing future technologies such as strengthening the development of high value-added products and restructuring the portfolio in line with the company's strategic direction.

Second, by creating a hydrogen business ecosystem and expanding the battery material business portfolio, we will actively promote new growth businesses and expand meaningful new business areas. In addition, we will further strengthen our capabilities in the battery materials business through the successful PMI of Lotte Energy Materials, which was recently acquired.

Lastly, through systematic and preemptive risk management and ESG management, we will solidify our global management and strengthen sustainability.

LOTTE Chemical will continue to do its best in 2023 so that our corporate value enhancement can lead to social value creation. We ask for your unwavering support and encouragement for LOTTE Chemical, and we wish the health and happiness of our shareholders and their families.