LG undergoing fundamental changes, riding on EV momentum
Posted : 2020-12-30 13:35
Updated : 2020-12-30 17:21
LG Group Chairman Koo Kwang-mo, right, inspects the design of a clothing storage unit set up inside a connected car model at LG Electronics research and development center in Seoul, Feb. 18. / Courtesy of LG Corp.
By Baek Byung-yeul
LG Group is undergoing fundamental changes in its business operations as its affiliates have been riding on the back of the rapidly growing electric vehicle (EV) industry. Though LG has been broadly known as a consumer goods manufacturing business group, the conglomerate is now transforming itself into a core partner in the global EV supply chain, industry officials and analysts said Monday.
Economic pain sharing
Government, landlords should help to ease tenants burdens It would be too cruel if merchants in rented shops have to pay full rent while they earn little money due to the COVID-19 pandemic, said Rep. Lee Nak-yon, chairman of the ruling Democratic Party of Korea (DPK), at a meeting of top party officials Wednesday. Our party will find wise and effective ways to help them. The government has also decided to work out measures to support the self-employed driven into a corner amid tightened social distancing measures resulting from the renewed coronavirus wave.
It is welcome that the governing camp has come forward to tackle this issue following President Moon Jae-in s request Monday. At stake is how they do this, as the matter boils down to who will shoulder the burden of rent in the end. The government is implementing the good landlord policy, offering tax credits to building owners who voluntarily lower rent rates. However, the policy has limitations