[Market Focus] LG Electronics Offers Voluntary Retirement for Employees Over 50... Shares Jump Over 6%

On September 18, LG Electronics shares are showing strong performance. This is interpreted as a result of increased investor interest following rumors that the company has joined the Tesla value chain.

As of 9:30 a.m. on this day, LG Electronics is trading at 82,800 won, up 4,900 won (6.29%) compared to the previous trading day.

원본보기 아이콘

The strength in LG Electronics shares appears to be due to rumors circulating on the social networking service X (formerly Twitter), suggesting that "LG Electronics has joined the supply chain for Tesla's Optimus robot."

The previous day, a user who identified themselves as a long-term Tesla investor posted such a message on X, which garnered more than 110,000 views and drew significant attention. However, the facts regarding this matter have not been confirmed.

Meanwhile, according to industry sources, LG Electronics is implementing a voluntary early retirement program across all divisions for employees aged 50 and above.

The program is operated on a voluntary basis, only for those who wish to participate, and applies to all departments. LG Electronics will provide severance pay equivalent to up to three years' annual salary and up to two years' worth of educational support for children to those who opt for early retirement. Employees with several years of low performance are also eligible for the program.

This is the first time in two years since 2023 that LG Electronics has implemented a voluntary early retirement program across all business divisions.

According to the sustainability report, as of last year, the number of regular domestic employees at LG Electronics aged 50 and over was 7,025, an increase of more than 22% compared to two years earlier in 2022.

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.