SEOUL (Reuters) - South Korea’s LG Corp said on Thursday it would spin off five affiliates into a new holding company next year, the latest reorganisation at one of South Korea’s family-led conglomerates as they pass to a new generation of leaders.
Analysts expect the new holding firm, to be headed by Koo Bon-joon, a son of LG’s founder, will eventually be separated from LG Corp. Around the turn of the century, LG Group and other South Korean conglomerates broke up into several companies led by children of the groups’ founders. Now the conglomerates are passing to the grandchildren of those founders, leading to a further round of restructuring deals.
In Kenya we love lg
More good news please(((
Similar News:You can also read news stories similar to this one that we have collected from other news sources.