Key Highlights :
Two years ago, the LX Group was spun-off from LG Group and has since seen great success. Under the leadership of chairman Koo Bon-joon, the total assets of the group have increased by 40 percent, making it the 44th largest conglomerate by asset ranking. LX Group has four subsidiaries, including LX International, LX Hausys, LX Semicon, and LX MMA, with LX PANTOS as a further subsidiary of LX International.
Since its establishment, the group has accelerated business diversification with an aggressive growth strategy. LX International has pursued major mergers and acquisitions (M&As), such as acquiring 100 percent of Korea Glass Industry, for 590.4 billion won and acquiring a 63.3 percent stake in Poseung Green Power, which operates an eco-friendly biomass power plant. In addition, it established a joint venture for biodegradable polymer (PBAT) with SKC and Daesang and participated in the development and operation of the eco-friendly logistics center in Busan to expand its business.
LX PANTOS invested 31.1 billion won to acquire a stake in North American logistics company Traffix, and LX Semicon acquired a 10.9 percent stake in Telechips, a domestic company that designs semiconductors for use in vehicles. The total assets of LX Group stood at 11.27 trillion won ($8.4 billion) as of the end of last year, which is up nearly 40 percent from 8.93 trillion won at the end of 2020 before the spin-off. The company's sales and operating profit also recorded 25.27 trillion won and 1.35 trillion won, respectively, up 57.7 percent and 234.3 percent.
The success of LX Group over the past two years is a testament to the leadership of Koo Bon-joon and the group's commitment to pursuing a steady external expansion policy as well as qualitative growth. The Fair Trade Commission's designation of LX Group as a conglomerate on April 25 is further proof of the group's success. As the group continues to pursue its aggressive growth strategy, it is expected to experience more success in the coming years.