LG Energy Solution names Kim Dong-myung new CEO

LG Energy Solution has appointed Kim Dong-myung as its new CEO, effective Jan. 1. Kim has been leading the company's automobile battery unit since 2020. Current CEO Kwon Young-soo will step down after 44 years with the company.

Kim Dong-myung, new CEO of LG Energy Solution [LG ENERGY SOLUTION]

LG Energy Solution promoted its president, Kim Dong-myung, to become its new CEO on Wednesday as a part of a year-end reshuffle.

The appointment was approved during a board meeting Wednesday and will become effective on Jan. 1.

Kim, who was born in 1969, has been spearheading the company's battery business, including batteries for mobile phones and automobiles, since he joined LG in 1998. He majored in metallurgical engineering, which is now known as materials science and engineering, at Yonsei University.

The business veteran has been leading the company's automobile battery unit since 2020.

“Kim is recognized for increasing LG Energy's global competitiveness by gaining more orders and establishing joint ventures with global companies,” LG Energy Solution said in a statement.

The Korean battery maker is building multiple battery plants overseas in collaboration with such global players as Hyundai Motor, General Motors, Honda Motor and Stellantis.

Current CEO Kwon Young-soo will step down from the position. His next move has not been declared.

“It is unlikely Kwon will move to other positions in LG Energy Solution or any other LG affiliates,” said a spokesperson for LG Energy Solution.

Kwon has worked for LG companies, including LG Energy Solution, LG Electronics and LG Chem, for 44 years.

BY SARAH CHEA [chea.sarah@joongang.co.kr]