LG to Exit Cleaning Service Business with Special Affiliates...Complete Sale of Shares

LG Twin Towers

[Asia Economy Reporter Ki-min Lee] LG announced on the 8th that it has decided to sell all shares of Jisoo INC, a building cleaning and facility management service company owned by special affiliates of the major shareholder, and to withdraw from the related business.

Jisoo INC, wholly owned by Koo Hwon-mi and Koo Mi-jung, children of the late Koo Ja-kyung, Honorary Chairman of LG Group, has operated independently as a separate company from LG. However, to fundamentally resolve controversies over preferential treatment due to ownership by special affiliates, the decision was made to sell all shares.

Jisoo INC explained that the sale of the business (shares) will be based on the premise of guaranteeing employment for all current employees, approximately 2,900 people. In particular, building management company S&I Corporation and Jisoo INC plan to sell the cleaning business to small and medium-sized enterprises rather than large corporations to open up work opportunities. They intend to find companies capable of providing high-quality services to tenants and stable job provision and maintenance for employees, and to complete the sale as quickly as possible.

S&I stated, "Separately from the sale of Jisoo INC, we will ensure the employment of 25 cleaning workers currently on strike at LG Twin Towers."

On the 5th, at a mediation meeting hosted by the Seoul Southern Branch of the Ministry of Employment and Labor, S&I and Jisoo INC presented an employment maintenance plan to the union, which included allowing 25 cleaning workers under the age of 65 who are on strike to work at other workplaces for commuting convenience, providing 100% of their existing wages during the approximately three-month period required, and paying separate consolation money to four union members aged 65 or older.

This measure aims to maintain the employment of 30 workers at the disabled standard workplace currently performing cleaning services at LG Twin Towers and about 60 workers at the new cleaning service company, while also preserving the employment of the existing 25 cleaning workers.

This content was produced with the assistance of AI translation services.