LG Corp. Acquires 500 Billion KRW Stake in LG Electronics and Chemicals to "Maintain Management Control and Enhance Profitability"

LG Corporation will purchase LG Electronics and LG Chem stocks worth a total of 500 billion KRW.

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On the 29th, LG Corporation announced that it will acquire LG Electronics stocks worth 200 billion KRW (approximately 2.03 million shares) and LG Chem stocks worth 300 billion KRW (approximately 960,000 shares) through two rounds of on-market purchases.

The on-market purchases will begin on November 1. Once the stock purchases are completed, LG Electronics' stake will increase from 30.47% to approximately 31.59%, and LG Chem's stake will rise from 30.06% to approximately 31.29%. LG Corporation stated, "This increase in shareholding is aimed at maintaining stable management control and enhancing LG Corporation's profit structure."

LG Corporation plans to discuss a corporate value enhancement plan, including the utilization of the 500 billion KRW worth of treasury stocks recently acquired, at the board of directors meeting and will announce it during the fourth quarter.

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