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LG sets up Technology Ventures in U.S.

All Headlines 11:18 June 04, 2018

SEOUL, June 4 (Yonhap) -- LG Group has set up LG Technology Ventures in the United States in the latest effort to find promising startups in the robot, artificial intelligence (AI) and auto part sectors, a company official said Monday.

LG Technology Ventures -- a venture investment arm of the South Korean conglomerate -- will manage four separate funds worth a total of US$400 million, the LG Corp. official said.

LG Corp. is the holding company of LG Group.

The funds are created by consumer electronics giant LG Electronics Inc., LG Chem Ltd., South Korea's leading chemical company, flat-panel display maker LG Display Co. and LG Uplus Inc., South Korea's third-largest mobile carrier.

The latest move comes as its global rival companies are pushing to strengthen their capabilities in AI research and development.

The corporate logo of LG outside its headquarters in Yeouido, Seoul (Yonhap)

entropy@yna.co.kr
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