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| Jeong Cheol-dong, right, CEO of LG Innotek, poses with Lee Chang-yang, minister of the Ministry of Trade, Industry and Energy, after receiving the Gold Tower Order of Industrial Service Merit during the 50th Commerce and Industry Day ceremony at the Korea Chamber of Commerce and Industry's building in Seoul, Wednesday. Yonhap |
Jeong Cheol-dong, president and CEO of LG Innotek, won the Gold Tower Order of Industrial Service Merit given by the government to those who made significant contributions to the development of the country's economy, according to the company, Wednesday.
The Gold Tower Order of Industrial Service Merit is the highest among the five orders and is given to leaders of companies that have shown outstanding achievements in increasing exports, localizing materials, parts and equipment and establishing a win-win growth ecosystem with small companies.
"The CEO won the highest honor for his contribution to strengthening the competitiveness of the national industry by securing proprietary technologies in the materials and parts industries, developing new technologies, innovating manufacturing processes and localizing manufacturing equipment over the last 38 years," LG Innotek said.
Jeong has been recognized as a top expert in the materials and parts industry with his long experience in the business-to-business (B2B) sector and insight in the IT sector. He joined LG Semiconductor in 1984 and worked for LG Group's major affiliates, such as LG Display, LG Chem and LG Innotek.
Since he became the CEO of LG Innotek in 2018, he made bold decisions so LG Innotek could focus on high value-added businesses, such as camera modules for smartphones and vehicles, semiconductor substrates and core parts for self-driving systems. As a result, the company achieved sales of 19.58 trillion won ($15 billion) in 2022, up 31.07 percent year-on-year, and an operating profit of 1.27 trillion won, up 0.6 percent.
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