LG Could Be Sued Over Name Of New Company
South Korean tech giant LG Corp could face legal action over the name of its new holding company, LX.
According to The Korea Herald, a state-run company named Land and Geospatial Informatix Corporation is threatening legal action to prevent LG from using its trade name LX, which it has been using for 10 years.
The company reportedly held a meeting last week and determined it should take legal action over the trademark of its name.
LG has ‘expressed regret’ over LX’s decision to take legal action and says the two companies have held meetings to discuss options.
The TV giant plans to confirm its spin-off plans in its general shareholder meeting scheduled for March 26.
Last November, LG announced it would split off four of its 13 affiliates and establish a new holding company headed by the current LG chairman Koo Kwang-mo’s nephew, Koo Bon-joon.