■ Enhancing sustainability by ‘reorganizing the business structure, overhauling, and focusing management on cash flow’
■ Pursuing practical business innovation through ‘sincere ESG management and expanding utilization of productive AI technologies’
■ Urged to create great changes and advancement using ‘innovation and execution as the driving force’’

Since being appointed as the President & CEO of LOTTE Chemical, Lee Hun Ki announced the strategic directions and key goals to achieve great changes and advancements of the company in his New Year’s address.

Lee Hun Ki President & CEO forecasted, “Difficulties in the business environment will continue for the near future due to rapid changes in the competition environment and geopolitical risks,” and added, “We must make changes and advancements to improve our sustainability and growth using innovation and execution, different from that of the past, as our driving force.”

He instructed innovative business restructuring and overhauls for this. He suggested the directions by commenting, “We shall reestablish our strategic direction focusing on businesses that we aim to foster and strengthen by advancing our business portfolio, while improving profitability through efficient operation of our existing petrochemical business,” and added, “We shall increase the weight of new businesses such as high-value specialty and green materials, while making timely investments in the battery materials and hydrogen energy business, and strengthening executive force, as well as finding additional future businesses.” He stressed management focusing on cash flow by stating with emphasis, “Let’s radically improve company-wide cash creation capacities by innovating cost and productivity in terms of business operation and efficiently utilizing operating capital and investments.”

Afterwards, he urged active response to market changes and practical business innovation for future technology businesses. Lee instructed, “We will thoroughly implement the vision, goals and road map of ESG management and search for mid- to long-term technical solutions that are difficult to find with current technologies such as RE100.” He commented, “We should fully utilize productive AI technologies to improve the fundamental values of business throughout all areas of company operation, while maximizing efficiency,” and also mentioned that the company should become a game changer in the market by preparing for AI transformation.

Lee Hun Ki President & CEO emphasized, “This is a time that requires innovation from the organization and each and every one of us, and the subjects of innovation are employees and the organizational culture,” while encouraging employees by saying, “Let’s become the leaders for great changes and advancement by taking on challenges and having passion and innovation with an open mind of leaders, while positively expressing our opinions amidst communication and cooperation of employees.”