Posted : 2021-04-27 09:10
Updated : 2021-04-27 09:10
Better known as LX, state-run company Korea Land And Geospatial Informatix Corporation filed a complaint against LG Group with the Fair Trade Commission, April 14, over LG s plan to name its spin-off entity LX Holdings. Korea Times file
By Yi Whan-woo
LG Group said this week that it has not changed its decision to name a holding company that it will spin-off May 1, LX, amid an ongoing dispute over infringement of copyright with the Korea Land And Geospatial Informatix Corporation that has used the brand for some time. We don t see any problems in our plan for the launch, an LG Group media officer said in relation to a complaint filed by the corporation against LG Group with the Fair Trade Commission (FTC), April 14.
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Samsung may soon secure LG’s key display driver and touch IC supplier
Silicon Works is reportedly looking to expand its clientele by supplying DDIs (Display Driver IC) and touch ICs (Integrated Circuits) to Samsung Electronics and Samsung Display, respectively. Silicon Works is the biggest fabless semiconductor design company in South Korea and it has so far bolstered its business by supplying semiconductor solutions to LG Display. The company is to become a key affiliate of LX Group / LX Holdings a company soon-to-be-split from LG Group and led by Koo Bon-joon.
Silicon Works has been a key partner of LG Display throughout the years, so the idea that it’s looking to secure Samsung LG’s closest rival as a client might seem strange at first. Then again, LG Electronics is reportedly considering exiting the smartphone business this year, and even though LG Display would remain one of Silicon Works’ main clients, the latter company could suffer revenue losses.
Proxy advisers Institutional Shareholder Services Inc and Glass Lewis & Co recommended separately that LG Corp shareholders vote against the South Korean company's plan to spin off five affiliates, arguing there is no "compelling" reason for the proposed transaction.
Proxy advisers Institutional Shareholder Services Inc and Glass Lewis & Co recommended separately that LG Corp shareholders vote against the South Korean company's plan to spin off five affiliates, arguing there is no "compelling" reason for the proposed transaction.