SEOUL, March 10 (Korea Bizwire) — LG Group Chairman Koo Kwang-mo has been sued by his family over inheritance he received more than four years ago, in a dispute that is feared to shake management of the country’s fourth-largest chaebol. Koo’s stepmother and two stepsisters filed a lawsuit with the Seoul Western District Court on [...]
SEOUL, June 10 (Korea Bizwire) — South Korean conglomerate LG Group on Thursday inaugurated its startup support platform Super Start and unveiled a plan to foster 300 promising startups over the next three years by investing a total of 150 billion won (US$118 million). Super Start will serve as a bridge connecting promising startups with [...]
SEOUL, May 26 (Korea Bizwire) — LG Group said Thursday it plans to invest 106 trillion won (US$83.7 billion) in electric vehicle batteries and other key business areas by 2026 in the latest massive expenditure plan by a South Korean conglomerate. South Korea’s fourth-largest conglomerate said it has set aside 48 trillion won out of [...]
SEOUL, Oct. 21 (Korea Bizwire) — LG Group has promised to create 39,000 new youth jobs for the next three years after joining the government’s youth job and education support project, the Prime Minister’s Office said Thursday. South Korea’s fourth-largest conglomerate will directly hire 10,000 young people annually for three consecutive years, and create 9,000 [...]
SEOUL, May 17 (Korea Bizwire) — LG Group, South Korea’s fourth-largest conglomerate, said Monday it will invest more than US$100 million for the next three years to establish massive high-performance computing infrastructure for advanced artificial intelligence (AI) development. LG AI Research, the group’s AI R&D hub, plans to develop a “hyper-mega AI” system resembling a [...]
SEOUL, Dec. 15 (Korea Bizwire) — LG Group, South Korea’s fourth-largest conglomerate, on Tuesday refuted claims that its planned spin-off of affiliates could undermine shareholder value, saying the move will actually benefit its stockholders. “We believe our shareholder value will improve since the group can focus on its key businesses, including electronics, chemicals and telecommunications,” [...]
SEOUL, Dec. 7 (Korea Bizwire) — LG Group, South Korea’s fourth-largest conglomerate, said Monday it has established an artificial intelligence (AI) research hub to explore growth opportunities and secure future technologies related with human-like algorithms. LG AI Research is joined by 16 affiliates of LG Group, including LG Electronics Inc. and LG Chem Ltd., to [...]
SEOUL, Nov. 26 (Korea Bizwire) — LG Group decided Thursday to set up another holding company as the country’s fourth largest conglomerate prepares for a split-off of multiple affiliates. LG Group said the new holding company will have LG International Corp., LG Hausys Ltd., LG MMA Corp. and Silicon Works Co. under its umbrella, and [...]
SEOUL, Nov. 16 (Korea Bizwire) — LG Group is likely to spin off multiple affiliates, people familiar with the matter said Monday, with an uncle of the conglomerate’s chief taking the leadership of the spun-off companies. Koo Bon-joon, an uncle of current LG Group Chairman Koo Kwang-mo and a younger brother of late LG Group [...]
SEOUL, Sept. 13 (Korea Bizwire) — LG Group, South Korea’s fourth-largest conglomerate, said Sunday it has formed a research consortium with global partners to discover high-performance materials with artificial intelligence (AI) and robot technologies. LG Science Park, the research and development (R&D) hub of LG Group in Seoul, joined hands with French energy firm Total [...]