LG Chem CEO named to head industrial body of World Economic Forum

South Korea's LG Chem Ltd. on Sunday said its CEO and Vice Chairman Shin Hak-cheol on Thursday will be named chair of the Chemical and Advanced Materials Industry Governors at the World Economic Forum (WEF) in Davos, Switzerland.

Shin will be the first Korean entrepreneur to head one of the WEF's 26 industry consultative bodies.

The chemical and advanced materials body to be chaired by Shin is a gathering of CEOs from around 30 leading global companies in the sector including BASF and Solvay. To serve through next year, he will discuss major issues in the global chemical sector such as the worsening of global supply chains and response to climate change and lead development of solutions.

Shin was also invited to the WEF's Informal Gathering of World Economic Leaders and will attend a session on presenting a growth plan in a fragmented world hosted by Kristalina Georgieva, managing director of the International Monetary Fund.

Around 140 global companies like reinsurer Swiss Re and INGKA Group, the parent company of world furniture giant Ikea, will take part in major meetings of global leaders at WEF such as the Alliance of CEO Climate Leaders.

Write to Jae-Fu Kim at hu@hankyung.com