LG Corp. announced plans on Thursday to invest 500 billion won (US$375.9 million) in acquiring additional stakes in its home appliances and chemical subsidiaries, LG Electronics Inc. and LG Chem Ltd., as part of a strategy to enhance corporate value. The purchases, set for November, will involve 200 billion won in LG Electronics shares and 300 billion won in LG Chem shares, according to a regulatory filing.
Upon completion, LG Corp.’s stake in LG Electronics will rise from 30.47% to 31.59%, while its interest in LG Chem will increase from 30.06% to 31.29%. The company emphasized that this move is intended to maintain stable management control and improve overall profitability.
This investment aligns with LG Corp.’s broader strategy to increase shareholder value, highlighted by its recent introduction of half-year dividends starting this year. The company plans to reveal additional initiatives aimed at boosting corporate value in the fourth quarter.
