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January 12, 2024
[CES 2024] LG to double spending for growth
LAS VEGAS -- LG Electronics CEO Cho Joo-wan said Wednesday that the tech giant will spend about 10 trillion won ($7.6 billion) in annual investment, more than double 2023's spending, to maximize its ...d for possible mergers and acquisitions, the chief strategy officer Lee Sam-soo said. ...
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January 11, 2024
[CES 2024] AI success hinges on steady, strategic investments: Chey
...to high expectations and investment, SK Group Chairman Chey Tae-won said, taking part in the CES 2024 technology show in Las Vegas on Tuesday. After touring the showrooms of Samsung Electronics and LG Electronics on the opening day of the world's largest tech show, Chey pointed to tran...
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January 11, 2024
[CES 2024] G-Dragon surprise visits CES
...on was spotted visiting the CES 2024, the world’s largest tech show which kicked off in Las Vegas on Tuesday. G-Dragon popped into the showrooms of Korean tech firms, including Samsung Electronics, LG Electronics, and SK Group, where he explored their cutting-edge technologies. When ...
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January 10, 2024
[CES 2024] LG Innotek presents tech for mobility, 5G
LG Innotek, an electronic component manufacturing unit under LG Group, said Tuesday it unveiled cutting-edge technologies for autonomous driving cars and 5G telecommunications at the CES 2024 in Las Vegas on Monday. The company carried out a pre-booth tour and introduced three ...
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January 09, 2024
LG Electronics eyes record sales of W84tr in 2023
LG Electronics is expected to record its highest revenue ever of 84 trillion won ($64 billion) in 2023, backed by solid performance in its core businesses, including automotive products, and effectiv...ges posed by delayed demand recovery from the economic slowdown and heightened market c...
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January 08, 2024
Samsung to boost patent leadership with ‘Ironflex’ trademark for foldable displays
...rket tracker, Samsung Display has secured 1,840 patents on foldable displays alone in the US, about four times more than the 481 patents secured by China’s BOE and the 469 patents of crosstown rival LG Display. Wert predicted that Samsung would further consolidate its leadership in th...
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January 07, 2024
LG Chem to transfer obesity drug rights to Boston-based Rhythm in $305m deal
LG Chem said Friday it has signed an agreement with Boston-based Rhythm Pharmaceuticals to transfer the development and sales rights of a new anti-obesity drug candidate named LB54640. The deal amou...icals is the right company for the successful development of LB54640,” said Son Jee-wo...
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January 07, 2024
LG, West Virginia to collaborate on tech ventures
LG Electronics’ North American Innovation Center, also known as LG Nova, has forged a strategic partnership with the US state of West Virginia to advance technologies for renewable energy, health care and other future industries, the Korean tech giant said Thursday. The two en...
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January 04, 2024
[KH explains] How young are ‘young’ CEOs in Korea?
... Electronics Chairman Lee Jae-yong, 55, SK Group Chairman Chey Tae-won, 63, and Hyundai Motor Group Executive Chair Chung Euisun, 53, are all third-generation leaders of the founding families, while LG Group Chairman Koo Kwang-mo, 45, is a fourth-generation leader and the youngest among...
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January 03, 2024
Battery, new energy sectors to feel pinch from global minimum tax
...s in the solar panel, wind, and other renewable energy sectors who have benefited from the IRA will likely be hit the hardest," a Samjong KPMG tax partner told The Korea Herald. These firms include LG Energy Solution and SK On, whose combined tax credit from the US government subsidies...
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January 02, 2024
LG to unveil display tech for smart cars at CES 2024
LG Display said Monday it will unveil four new automotive display technologies at the upcoming CES 2024 slated for next week in Las Vegas, introducing innovations tailored for software-defined vehicl...ty, visual quality, affordability, and safety of screens in software-defined vehicles. ...
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January 02, 2024
[KH explains] Nexon’s failed stake sale reignites dispute over ‘punitive’ inheritance tax
... bill worth 12 trillion won since the late Samsung patriarch Lee Kun-hee died in 2010 with an estate valued at 20 trillion won. Other heirs of some of the country's biggest conglomerates, including LG, SK and Lotte, are also selling their stocks and taking loans on them to pay off the ...
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December 28, 2023
Chaebol leaders heading to CES 2024
...ion, and digital twin technologies. While Samsung Electronics Executive Chairman Lee Jae-yong and LG Group Chairman Koo Kwang-mo are unlikely to attend, their companies will turn out in force. Samsu...t to their respective fields. CEOs of major LG affiliates, such as Jeong ...
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December 27, 2023
Hyundai Motor seeks alternative answers in India, Southeast Asia
...ople and is the fourth largest country in the world. Hyundai Motor is setting up the Association of Southeast Asian Nations' first complete EV chain as it is building a joint battery cell plant with LG Energy Solution. The automaker is pinning its hopes on Indonesia to become the main ...
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December 26, 2023
LG Nova to offer glimpse into future startup tech at CES 2024
LG Nova, LG Electronics’ North American Innovation Center, will offer a glimpse into the technologies that will lead growth in the future at CES 2024, slated to be held in January in Las Vegas, the c...ture industry,” said Rhee Sok-woo, LG Electronics’ senior vice p...
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December 25, 2023
LG Electronics opens experience zone targeting 'Doi Moi' generation in Vietnam
There is also a space where visitors can play shooting games with LG’s UltraGear gaming monitors and an exhibition zone that showcases the technology of the home appliance giant's key home appliances...er experience space so that overseas customers can experience the differentiated value...
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December 22, 2023
LG Energy Solution secures 10 power grid projects in US
LG Energy Solution said Thursday its US subsidiary has landed 10 power grid supply deals in the fast-growing US energy storage system market since its launch last year. The projects' total energy storage capacity amounts to 10 gigawatt-hours, the firm said. Based in Texas, LG ...
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December 22, 2023
Huawei to spur Korea’s digital shift next year: CEO
... always open to cooperating with Korean firms and want to support their digital transformation and help create value." On the other hand, he hinted at the Chinese company's step-up cooperation with LG Uplus, the nation's third-largest mobile carrier. Earlier this year, LG Up...
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December 21, 2023
Big firms skip year-end brouhaha, offer days off instead
...k off the new year, eyes are on whether he might deliver a message to employees for the new year. LG Group does not plan to hold official ceremonies for the end of the year or start of the new year. ...ed video messages for better communication among employees in both Korean and overse...
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December 21, 2023
LG Chem breaks ground on largest materials plant
LG Chem said Wednesday it broke ground to build a cathode materials manufacturing plant in the US state of Tennessee that is to be the largest production facility in the all-important electric vehicle market. LG Chem Vice President Shin Hak-cheol, Tennessee Gov. Bill Lee, Stuar...