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Samsung, LG Vie for the Upper Hand in 100-inch TV Market

Samsung, LG Vie for the Upper Hand in 100-inch TV Market

SEOUL, Oct. 19 (Korea Bizwire) — With the trend toward larger screen TVs accelerating, South Korea’s two electronics giants — Samsung Electronics Co. and LG Electronics Inc. — are about to release new models with a screen size of about 100 inches. Samsung, which is leading the ultra large-sized TV market, is highly likely to [...]

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 [...]