Hyundai to acquire LG s automotive components firm
Posted : 2021-01-26 16:23
By Kim Hyun-bin
LG Hausys said in a filing to the Korea Exchange, Tuesday, that it had selected Hyundai BNG Steel as the preferred negotiator to acquire its automotive components and industrial film businesses. LG Hausys and Hyundai BNG Steel have signed a memorandum of understanding (MOU) under which the latter will proceed with due diligence to acquire LG s automotive parts and industrial film businesses as the status of top negotiator, according to the filing. The final contract is expected to be inked in March with a total price tag of around a few billion dollars.
Modern Diplomacy
In 2019, South Korea imported 745,000 metric tonnes of palm oil, up from 194,000 metric tonnes in 2005. It is one of the fastest-growing markets for the commodity in the world, driven by government policies to boost palm oil as a lucrative green industry and to secure food and energy supplies from overseas.
Most of this palm oil comes from Indonesia and Malaysia and until recently was used in processed food, such as instant noodles. But under the country’s “Green New Deal” introduced earlier this year, palm oil is being promoted as a source of renewable energy, as biofuel for transport and power generation.
Posted : 2020-12-28 15:50
Updated : 2020-12-28 17:58
LG Group Chairman Koo Kwang-mo, right, looks at an EV battery model under development in this file photo. / Courtesy of LG
By Kim Bo-eun
LG Group has identified key areas of focus as it enters a tougher business environment next year.
In a recent meeting with CEOs of major affiliates, LG Group Chairman Koo Kwang-mo presented quality, safety and environment as the group s next year core initiatives, according to LG, Monday. Let each of the members of the group work with a sense of responsibility that LG products are those used by my family members and LG is where my family members work, Koo was quoted as saying at the meeting in a press release by the group.
South Korea s finance of green palm oil drives destruction in Indonesia chinadialogue.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from chinadialogue.net Daily Mail and Mail on Sunday newspapers.
Business law revision hurts firms fighting hostile funds
Posted : 2020-12-22 13:52
By Nam Hyun-woo
A revision to the country s Commercial Act is raising fears that it may end up preventing local firms from defending their management rights against hostile investors, according to industry officials and experts.
They cited a U.S. private investment fund s recent opposition to LG Group s plan to spin off some units as a case that may have become worse since the revision, and many Korean firms having activist funds as shareholders will face similar opposition to their decision-making procedures.
On Dec. 9, the National Assembly passed a number of revisions to the act, aimed at requiring companies to appoint more than one audit committee member from outside the board of directors, decided upon by shareholders. In this process, the respective voting rights of a company s owner and their affiliated persons and organizations ― the largest shareholders ― will be limited to 3 perce