Most Popular
-
1
Dongduk Women’s University halts coeducation talks
-
2
OpenAI in talks with Samsung to power AI features, report says
-
3
Two jailed for forcing disabled teens into prostitution
-
4
Trump picks ex-N. Korea policy official as his principal deputy national security adviser
-
5
Russia sent 'anti-air' missiles to Pyongyang, Yoon's aide says
-
6
S. Korea not to attend Sado mine memorial: foreign ministry
-
7
South Korean military plans to launch new division for future warfare
-
8
Gold bars and cash bundles; authorities confiscate millions from tax dodgers
-
9
North Korean leader ‘convinced’ dialogue won’t change US hostility
-
10
Hyundai Motor’s Genesis US push challenged by Trump’s tariff hike: sources
The companies that are scheduled to be split from LG Group may be named under the brand LX, people familiar with the matter said Friday, as they prepare for the departure from South Korea's fourth-largest conglomerate with the group chief's uncle.
LG Group filed a trademark application for the brand LX and its logo to the country's intellectual property office this week, they said, with some 90 images that may represent the corporate identity of LG's new holding company soon to be established.
In November, LG Group decided to set up another holding company by May this year to prepare for a spin-off of multiple affiliates.
Under the plan, the new holding firm will have LG International Corp., LG Hausys Ltd., LG MMA Corp. and Silicon Works Co. under its umbrella and will be managed by the board of directors led by Koo Bon-joon, an uncle of current LG Group Chairman Koo Kwang-mo and a younger brother of late LG Group chief Koo Bon-moo.
The move was considered an initial step for Bon-joon to establish his own business group.
LG, however, said nothing has been confirmed about the name of spin-off companies.
LG has a tradition in which the eldest son of the group chief inherits the management power of the conglomerate, while brothers of the chief create their own business groups with spin-off companies after the group leader's death.
Local conglomerates, like LS Group, LIG Group and Heesung Group, were all founded under LG's management tradition. (Yonhap)
LG Group filed a trademark application for the brand LX and its logo to the country's intellectual property office this week, they said, with some 90 images that may represent the corporate identity of LG's new holding company soon to be established.
In November, LG Group decided to set up another holding company by May this year to prepare for a spin-off of multiple affiliates.
Under the plan, the new holding firm will have LG International Corp., LG Hausys Ltd., LG MMA Corp. and Silicon Works Co. under its umbrella and will be managed by the board of directors led by Koo Bon-joon, an uncle of current LG Group Chairman Koo Kwang-mo and a younger brother of late LG Group chief Koo Bon-moo.
The move was considered an initial step for Bon-joon to establish his own business group.
LG, however, said nothing has been confirmed about the name of spin-off companies.
LG has a tradition in which the eldest son of the group chief inherits the management power of the conglomerate, while brothers of the chief create their own business groups with spin-off companies after the group leader's death.
Local conglomerates, like LS Group, LIG Group and Heesung Group, were all founded under LG's management tradition. (Yonhap)
