LG Innotek shareholders approve merger with sister firm

SEOUL, May 19 (Yonhap) -- LG Innotek Co., a South Korean maker of mobile phone
components, said Tuesday its shareholders approved the company's merger with a
sister display parts maker.
About 63 percent of LG Innotek shareholders approved the proposed merger with LG
Micron Ltd., LG Innotek said. Both companies are affiliated with LG Group, South
Korea's second-largest conglomerate.
The combination is scheduled to be completed by July 1.
LG Innotek said the merged company is expected to post annual sales of 3 trillion
won (US$2.25 billion).
LG Electronics Inc., LG Group's flagship and South Korea's leading home
electronics maker, owns 50 percent of LG Innotek and 52 percent of LG Micron.
ygkim@yna.co.kr
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