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LG Electronics, LG Chem Set Aside More than 325 bln Won for Bolt EV Recall Costs

LG Electronics, LG Chem Set Aside More than 325 bln Won for Bolt EV Recall Costs

SEOUL, Aug. 10 (Korea Bizwire) — LG Electronics Inc. and LG Chem Ltd. on Tuesday decided to set aside a combined 325.6 billion won (US$282.8 million) in provisions for costs related to General Motors (GM) Co.’s Chevrolet Bolt electric vehicle (EV) recall as they revised down their second-quarter operating profits. In a regulatory filing, LG [...]

LG to Invest 15 tln Won in S. Korea by 2030 to Solidify Battery Leadership

LG to Invest 15 tln Won in S. Korea by 2030 to Solidify Battery Leadership

SEOUL, July 8 (Korea Bizwire) — LG Group said Thursday its battery making and chemical units will invest a combined 15.1 trillion won (US$13.1 billion) in South Korea by 2030 to develop next-generation battery technology and expand the domestic supply chain to solidify its battery leadership. LG Chem Ltd. and its wholly owned battery subsidiary [...]

LG Looking to Beef Up Relationship with Apple After Mobile Biz Exit

LG Looking to Beef Up Relationship with Apple After Mobile Biz Exit

SEOUL, July 6 (Korea Bizwire) — LG Group, South Korea’s fourth-largest conglomerate, is apparently looking to beef up its business relationship with Apple Inc., industry insiders said Tuesday, amid rumors that its electronics affiliate may sell the U.S. tech titan’s products at its retail shops. LG recently held a special promotion for iPhones, iPads and [...]

LG to Invest 100 bln Won in Kakao Mobility

LG to Invest 100 bln Won in Kakao Mobility

SEOUL, July 2 (Korea Bizwire) — LG Corp., the holding company of South Korea’s fourth-largest conglomerate LG Group, on Friday said it will invest 100 billion won (US$87.9 million) in Kakao Mobility Corp., the country’s leading taxi-hailing firm, for future growth. LG said the investment will allow its affiliates, including LG Energy Solution Ltd. and [...]

Apple to Offer Trade-in Program for LG Smartphone Users in S. Korea

Apple to Offer Trade-in Program for LG Smartphone Users in S. Korea

SEOUL, May 28 (Korea Bizwire) — The South Korean unit of Apple Inc. will run a trade-in program to woo LG Electronics Inc.’s smartphone users, industry insiders said Friday, in a move to expand its presence on the home turf of Samsung Electronics Co., the world’s largest smartphone vendor. Apple’s smartphone exchange scheme with local [...]

Samsung, LG to Provide Paid Vaccine Leave

Samsung, LG to Provide Paid Vaccine Leave

SEOUL, May 12 (Korea Bizwire) — Samsung Electronics Co. and LG Group decided Wednesday to offer paid leave to workers who receive a COVID-19 vaccine shot following health authorities’ recommendation. Samsung’s decision came one day after its labor union requested paid time off for COVID-19 vaccinations. Employees who take a day off to get vaccinated [...]

Samsung, LG Release Vacuum Cleaners with Upgraded Charging Stations

Samsung, LG Release Vacuum Cleaners with Upgraded Charging Stations

SEOUL, Feb. 5 (Korea Bizwire) — South Korea’s two largest home appliance makers — Samsung Electronics Co. and LG Electronics Inc. — are set to begin their duel in the vacuum cleaner market, industry observers said Friday, as they released new products boasting upgraded charging stations. LG began to sell its new CodeZero ThinQ A9S [...]

Home Appliance Makers Vying for Water Dispenser-embedded Fridge Market

Home Appliance Makers Vying for Water Dispenser-embedded Fridge Market

SEOUL, May 14 (Korea Bizwire) — South Korea’s home appliance makers are entering a heated battle over refrigerators with water dispensers after they recently released products highlighting advanced sterilization systems and smart control solutions. LG Electronics Inc., Samsung Electronics Co. and Winia Dimchae Co. are all vying for the top position in the segment. LG [...]