The Seoul National University College of Engineering announced that Hak-Cheol Shin, Vice Chairman of LG Chem, "was selected as the recipient of the 31st Proud SNU Alumni Award and received a commemorative plaque from the SNU President, Se-Jung Oh."
 
Vice Chairman Hak-Cheol Shin graduated from Seoul National University’s Department of Mechanical Engineering and based on his rich global experience and firm management philosophy regarding sustainability, he has been greatly contributing to the sustainable development of today's society and has been raising the status of South Korea. Vice-Chairman Shin joined 3M Korea in 1984, became the Philippine branch manager (1995), and after having been the senior vice president of industrial business at 3M's American headquarters (2005), he has become the first Korean to be the senior vice president overseeing 3M's overseas business (2011) and being such an outstanding professional manager, he has won the Seoul National University College of Engineering's Distinguished Alumni Award in 2014, the Civil Merit Medal in 2019, and the Grand Prize at the Korea Negotiation Awards of the Korea Association of Negotiation Studies in 2020.
 
Seoul National University's College of Engineering reported that Vice Chairman Hak-Cheol Shin's global capabilities and leadership that once led a world-class innovative company are now shining at LG Chem, Korea's representative chemical company, contributing to the development of Korean industries and technological innovation that is beyond the growth of a single company.
 
Despite the intensifying trade dispute between the United States and China as well as unexpected changes such as the outbreak of COVID-19, LG Chem has adopted advanced management techniques and updated its record-breaking business performance every quarter by achieving the position of being the world's No. 1 market share of the battery business, which is called the next generation's breadwinner for the country, and have created an opportunity to leap forward by making its subsidiary LG Energy Solution independent in a timely manner. In addition, based on his wide global network and leadership, he led the development of the Korean chemical industry through cooperation with leading overseas companies, including his feats of establishing joint ventures with global companies such as GM of the United States and Geely Auto of China, acquisition of soluble OLED material technology from DuPont of the United States and the signing of an agreement to use biomaterials with NESTE of Finland. As a result, LG Chem was selected as one of the top 100 global companies whose corporate value has risen since the outbreak of COVID-19 by the UK's Financial Times, the 4th global chemical company in brand value by the British brand consulting firm 'Brand Finance', as well as being chosen as one of the Global Top 7 selected by C&EN (Chemical & Engineering News), a journal issued by the American Chemical Society (ACS).
 
Vice Chairman Shin Hak-cheol is also taking the lead in creating a sustainable future for mankind by demonstrating continuous technological innovation and global leadership regarding climate change.
 
Last year July, carbon-neutral growth was declared for the first time in the history of the domestic chemical industry and ESG management has been accelerated to reduce 30 million tons of carbon dioxide, which is equivalent to annual emissions of 12.5 million internal combustion engine vehicles, and this year, has secured 337.2GWh of renewable energy that about 80,000 households can use for a year, and they are also in a hurry for the conversion to using 100% renewable energy at workplaces around the world. Through an investment of 10 trillion won by 2025, they are leading the ESG megatrend in the domestic chemical industry, foretelling innovation in ESG-based business portfolios such as eco-friendly materials and battery materials. As a result, in July last year, LG Chem succeeded in the commercial production of the world's first eco-friendly Post-Consumer Recycled (PCR) white Acrylonitrile Butadiene Styrene (ABS) and last year October, has succeeded in developing Poly lactate Hydracrylate (PLH), their own material which dramatically improved the flexibility and transparency of existing biodegradable materials. In addition, they have signed an agreement with Finland's Neste, the world's largest biodiesel company, to produce eco-friendly products based on bio raw materials, and established a 'Plastic Eco-Platform' with Innerbottle, a domestic innovative start-up, strengthening cooperation with domestic as well as foreign companies.
 
Accordingly, Vice Chairman Hak-Cheol Shin was the only Korean entrepreneur to be invited to the World Economic Forum earlier this year where he preached the importance of strategies and innovative science and technology to respond to climate change and as he was recognized as being the only Korean company member of the 'Alliance of CEO Climate Leaders', which consists of top executives of more than 100 global companies under the World Economic Forum, he is actively engaging in international cooperative activities to respond to climate change.
 
“I wish to understand this award to be an encouragement to further devoting myself in developing technologies for a sustainable future of human society, such as through eco-friendly materials or battery materials, to elevate the status of LG Chem and the national industry globally. I am deeply grateful to receive this prestigious award,” said Vice Chairman Hak-Cheol Shin as he expressed his thoughts about receiving the award.

Since 1991, Seoul National University has selected those who have earned Seoul National University's honor for their character and virtue and for contributing greatly to the development of the nation and human society to be their 'Proud Seoul National University Alumni', and this year they are celebrating their 31st anniversary.