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New Year Special Features '99

  • LG Launches Independent Liquid-Crystal Display Unit
  • January 12, 1999 (SEOUL) -- After ending a holdout on the chip merger with rival Hyundai Electronics Industries Co., Ltd., the LG Group decided to launch an independent liquid-crystal display manufacturing unit called LG-LCD, an LG spokesman said.
    The LG Group is forming LG-LCD by joining the LCD manufacturing divisions in both LG Electronics Co., Ltd. and LG Semicon Co., Ltd., which is on the verge of merging with Hyundai Electronics.

    LG-LCD plans to cut its debt-to-equity ratio to below 170 percent from the current 230 percent, along with setting its turnover target at US$1 billion for 1999.

    "The company is expected to meet its sales goal without difficulty by penetrating emerging markets in Asian countries, including China," said a group official. "To see its annual profit in the black this year, it is also considering looking into more overseas markets and adopting advanced marketing strategies from leading countries."

    (Maeil Business Newspaper, Korea)

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    Updated: Mon Jan 11 15:17:50 1999 PDT