LG Electronics, Declares to Take 3 Percent Shares of KT

LG electronics officially declared participation in KT shares on the 15th.

LG electronics stated to buy a total of 3 percent shares, 1 percent stock and 2 percent of Exchange Bond (EB).

The Amount of money is 165,500 million won of stocks and 364 billion won of EB.

LG electronics stated, “It is a strategic investment in order to activate and to co-operate buying communication equipment with KT” and “we expect that sale in communication system and mobile business will increase due to this participation of shares.”

Yeon-Su Shin ysshin@donga.com