LG Sangsa Changes Company Name to 'LX International' After 26 Years

[Asia Economy Reporter Changhwan Lee] LG Sangsa is starting anew by changing its name to 'LX International.'

On the 25th, LG Sangsa held an extraordinary general meeting at its headquarters in Jongno-gu, Seoul, to amend its articles of incorporation and confirmed the name change to 'LX International.'

The English name is 'LX International.' The amended articles will take effect from the 1st of next month.

Founded in 1953 under the name Rakhee Industrial Co., Ltd., LG Sangsa changed its name to Bando Sangsa in 1956, Lucky-Goldstar Sangsa in 1984, and then to LG Sangsa in 1995. This name change comes 26 years after the switch from Lucky-Goldstar Sangsa to LG Sangsa.

The new name, LX International, reflects the company's intention to go beyond the traditional 'Sangsa' role centered on trading, and to lead the connection to a sustainable future on the global stage with a first-place DNA, the company explained.

CEO Yoon Chunsung stated, "With the new name, we will build differentiated global competitiveness based on bold challenge spirit and strong execution power, and promote a transition to an innovative business model."

He added, "We will strengthen profitability and market responsiveness of existing businesses through maximizing management efficiency and advancing business structure, and focus resources and capabilities on future growth industries considering ESG (environment, social, governance) perspectives and growth potential in new businesses."

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