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LG Electronics to Invest in UK Venture Jun 30, 2004 |
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LG Electronics Inc., one of South Korea's largest electronics manufacturers, said it will invest 289.1 billion won (approx. U.S. $250 million) in its British joint venture.
In a regulatory filing to the Financial Supervisory Service, LG Electronics said the investment was aimed at refinancing debts in LG Electronics Wales Ltd., a British monitor-producing venture with Royal Philips Electronics NV of the Netherlands.
Its partner Philips also plans to invest $250 million into the venture, according to the statement. (Yonhap)