LG （6do encyclopedia）

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LG Corporation, formerly known as Lucky-GoldStar, is a South Korean multinational conglomerate headquartered in Seoul. The company is primarily involved in the manufacturing of electronics, appliances, and chemicals. LG operates in more than 80 countries around the world, with its primary markets being Korea, the United States, and Europe. The company employs over 72,000 people worldwide and had revenue of 62.5 trillion KRW (approximately 56 billion USD) in 2020.

History

LG was founded in 1947 as Lucky Chemical Industrial Corporation, producing toothbrushes and other household items. In 1952, the company expanded its operations into the production of plastics. In the 1960s, the company entered the electronics market and began producing radios, televisions, and refrigerators.

In the early 1980s, LG made the decision to focus on high-tech electronics and changed its name to Lucky-GoldStar. The company also established its research and development center in South Korea during this time. By the late 1980s, LG had become one of the world’s largest manufacturers of televisions.

In 1995, the company changed its name to LG Electronics and began expanding internationally, setting up operations in the United States, Europe, and Asia. In 1999, LG established subsidiary LG Chemical, which produces a range of chemical products including electronics materials, non-ferrous metals, and energy solutions.

Products

LG produces a wide range of consumer electronics including televisions, refrigerators, washing machines, and smartphones. The company is also a major supplier of components and displays for other electronics manufacturers.

In recent years, LG has been at the forefront of the development of new technologies such as 5G, OLED display panels, and artificial intelligence. The company’s LG ThinQ range of home appliances offers smart functionality and can be controlled using voice commands.

LG’s OLED televisions are highly regarded for their picture quality, with the company receiving numerous industry awards for its OLED technology. In 2019, LG introduced its rollable OLED television, which can be rolled up like a poster when not in use.

Environmental and Social Responsibility

LG is committed to reducing its environmental impact and promoting sustainability. The company has set a goal to achieve carbon neutrality by 2030 and has implemented various initiatives to reduce its greenhouse gas emissions. LG has also committed to using only renewable energy in its operations by 2050.

In addition to its environmental initiatives, LG is also involved in various social responsibility programs. The company operates the LG Social Contribution Center, which focuses on providing education and support for underprivileged communities. LG also supports various cultural and sporting events around the world.

Controversies

LG has been involved in several controversies over the years. In 2018, the company was forced to apologize after a number of its employees were accused of filming female colleagues in a changing room. The incident led to the resignation of several executives and a pledge by LG to improve its workplace culture.

In 2020, LG was fined 6.5 million Euros by the European Commission for antitrust violations. The company was found to have participated in a cartel with other electronics manufacturers to fix prices for televisions sold in Europe.

Conclusion

LG is a major player in the global electronics market, with a strong focus on innovation and sustainability. The company’s products are widely recognized for their quality and technological advancements. Despite some controversies, LG continues to be a significant contributor to the global economy and a major employer in South Korea and around the world.

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[brief (簡報編譯)]

How an ‘energizer bunny,’ cheeseburgers and $14 billion helped Canada woo Volkswagen

The Toronto Star

23-05-14 10:00

Canadian Industry Minister François-Philippe Champagne cold called Volkswagen North American CEO Scott Keogh in March 2021, beginning a year-long negotiation that ended in the announcement of VW's Plant Canada project. It aims to build a $4bn, 40 GWh-capacity battery assembly plant in southern Ontario, alongside a $1.4bn expansion of Ford’s Oakville assembly complex that includes the on-site production of electric powertrains. Champagne and Ontario Premier Doug Ford wooed and cajoled VW with offers of financial incentives and a highly trained workforce, and St. Thomas, just south of London and a rail hop from Michigan, was chosen as the assembly site ahead of another Canadian location and a US state. Construction is expected to start in 2023 and deliveries from 2025.

https://www.thestar.com/politics/2023/05/14/how-an-energizer-bunny-cheeseburgers-and-14-billion-helped-canada-woo-volkswagen.html

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Windsor mayor calls out Ottawa after Stellantis accuses feds of failing on plant deal

The Globe and Mail

23-05-13 16:05

Stellantis and LG Energy Solution have said they will execute contingency plans after accusing the Canadian government of failing to follow through on detailed agreements to back a $5bn electric vehicle (EV) battery factory being built in Windsor, Ontario. Windsor Mayor Drew Dilkens has urged the federal government to comply with the deal and ensure its completion. The full sum that the federal, provincial and local governments have pledged has not been publicly disclosed.

https://www.theglobeandmail.com/canada/article-windsor-mayor-calls-out-ottawa-after-stellantis-accuses-feds-of/

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Stellantis explores “contingency plans,” accuses Ottawa of failing on plant deal

The Toronto Star

23-05-13 14:29

Stellantis and LG Energy Solutions have accused the Canadian government of failing to deliver its end of the deal to build an EV factory with battery capacity in Windsor, Ontario. The automaker has not confirmed what its contingency plan involves, but it is understood Stellantis and LG committed $5bn last year to the proposed manufacturing site. Meanwhile, Volkswagen has agreed an EV factory deal with the federal government and Ontario, which includes billions of dollars in subsidies. Negotiations between the government and Stellantis are said to be ongoing.

https://www.thestar.com/politics/2023/05/13/stellantis-explores-contingency-plans-accuses-ottawa-of-failing-on-plant-deal.html

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Stellantis, LGES implementing 'contingency plans' for battery plant in Canada

Reuters

23-05-13 00:29

Stellantis and LG Energy Solution are implementing contingency plans related to their C$5 billion battery plant investment plan in Canada due to the federal government not delivering on its promises, according to a spokesperson for Stellantis. The Canadian government has not yet responded to the announcement.

https://www.reuters.com/business/autos-transportation/stellantis-lges-implementing-contingency-plans-battery-plant-canada-2023-05-13/

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Justin Trudeau and Doug Ford must boost subsidies for Stellantis amid fears auto giant will pull out of Windsor EV battery plant: sources

The Toronto Star

23-05-12 21:00

Concerns are mounting that Stellantis could pull out of its deal to build a battery plant in Windsor, Ontario, following the Canadian government's announcement that Volkswagen is being offered CAD13.2 billion ($10.9 billion) in grants and tax incentives over a five-year period, to produce batteries in Ontario. Stellantis could move its gigafactory to the US if the deal offered to Volkswagen is not matched or exceeded, sources say. Stellantis signed the $1 billion investment deal with Canada last year alongside partner and South Korean EV battery maker LG Chem. The investment will reportedly create 2,500 jobs at the 2.8-million-square-foot facility and an estimated 10,000 jobs in the supply chain. While industry experts suggest Stellantis is unlikely to pull out of the Windsor deal, calling it “critical” to Ontario’s economic future, the talks are still "very active," an official said. The Windsor plant is planned to manufacture 400,000 batteries a year, with batteries due to be made on two 1.4 million square foot floors.

https://www.thestar.com/politics/provincial/2023/05/12/justin-trudeau-and-doug-ford-must-boost-subsidies-for-stellantis-amid-fears-auto-giant-will-pull-out-of-windsor-ev-battery-plant-sources.html

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Exclusive: LG Display to supply OLED TV panels to Samsung Elec

Reuters

23-05-16 03:03

South Korea's LG Display has agreed a deal to supply high-end TV panels to Samsung Electronics, which would help the loss-making flat-screen maker turn profitable. LG Display will initially supply 77-inch and 83-inch white OLED (WOLED) TV panels, with Samsung looking to expand in high-end OLED TVs, aiming to overtake Sony as the second largest supplier of OLED TVs worldwide. The deal could help LG Display take its OLED factory to full capacity, as the company has been operating below its full capacity due to a limited customer base and a pandemic-driven demand surge for new TVs tapering off due to soaring inflation and slowing economy.

https://www.reuters.com/technology/lg-display-supply-oled-tv-panels-samsung-elec-sources-2023-05-16/

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Trudeau touches down in South Korea for talks on economic security, China interference

CBC

23-05-16 12:14

Canadian Prime Minister Justin Trudeau and two of his cabinet ministers have arrived in South Korea to lay the groundwork for an economic security bilateral dialogue. Innovation Minister François-Philippe Champagne and Foreign Affairs Minister Mélanie Joly plan to enter high-level talks while there. The trip is viewed as an economic insurance policy where nations look after one another. Diversifying supply chains post-pandemic and resisting economic coercion are among the major topics that will be discussed during this year's meeting of the Group of Seven (G7) nations.

https://www.cbc.ca/news/politics/stellantis-trudeau-korea-economic-security-1.6844672

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Morning Update: Stellantis halts construction at Windsor EV battery plant over federal funding

The Globe and Mail

23-05-16 11:11

Stellantis and LG Energy Solution have suspended work on a $5bn electric vehicle (EV) battery factory in Canada as they call for government funding comparable to the funding given to Volkswagen. The Canadian automotive plant in St. Thomas has been given $13bn from Ottawa over 10 years. Finance Minister and Deputy Prime Minister Chrystia Freeland said the government expressed an openness to boosting subsidies for Stellantis and LG to near the levels afforded to VW. The factory was planned to have a capacity of 40GWh a year, with production starting in 2023. LG Energy Solution is a unit of LG Chem that makes EV battery cells, while Stellantis is a company created by France's PSA and U.S. group Fiat Chrysler.

https://www.theglobeandmail.com/canada/article-morning-update-stellantis-halts-construction-at-windsor-ev-battery/

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Champagne says Ontario needs to 'pay fair share' to end 'stalemate' with Stellantis

CBC

23-05-16 14:32

The Canadian Minister of Innovation, François-Philippe Champagne, has urged the Ontario government to pay its “fair share” of subsidies for construction of Stellantis's electric vehicle battery manufacturing plant in Windsor. The call comes after Stellantis paused construction due to Ottawa reportedly only partially delivering the promises it made to the automaker. When confirmed, the plant was to have benefited from CAD 500m ($410m) of federal support. The construction pause follows the US Inflation Reduction Act complicating the deal, as it widely benefits the established US initiative.

https://www.cbc.ca/news/politics/stellantis-champagne-ontario-stalemate-1.6844796

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Local MPPs divided on whether it's the feds, province that needs to step up in Stellantis talks

CBC

23-05-17 00:03

Government support for electric vehicle manufacturing is under scrutiny in Canada, where Stellantis said it had to pause the construction of its planned battery plant in Windsor, Ontario, due to a lack of financial support from Canada's federal government. The company said it is still working with the government, but if a deal isn't reached, it may make "difficult decisions" about the project. The delay follows the US government's passing of the Inflation Reduction Act, which gives automakers greater financial stability for EV investments. Some are calling for more support for the Canadian EV supply chain.

https://www.cbc.ca/news/canada/windsor/stellantis-ev-battery-mpps-1.6844525

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Ottawa at stalemate over Stellantis battery factory, calls on Ontario to pay its ‘fair share’

The Globe and Mail

23-05-16 22:58

Canada's Innovation Minister, François-Philippe Champagne, is urging the Ontario government to help end the subsidy stalemate that has halted construction of Canada's first electric-vehicle battery plant. Automaker Stellantis NV and battery maker LG Energy Solution have threatened to move their joint $5bn project to the US, unless the incentives provided by the Inflation Reduction Act are matched in Canada, following the example of a similar project built by Volkswagen. Champagne urged Ontario to contribute an unspecified "fair share" of the incentives, however, the province said it is up to the federal government to honour its commitments.

https://www.theglobeandmail.com/business/article-ottawa-at-stalemate-over-stellantis-battery-factory-calls-on-ontario/

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Canada is getting played by Stellantis, but we asked for it

The Globe and Mail

23-05-16 22:20

Stellantis could cancel its plans to build an electric-vehicle battery plant in Ontario if the company doesn't receive the subsidies it applied for, however, Ottawa and Queen's Park are willing to pay the extra billions needed. The Canadian government broke the bank for Volkswagen with a promise of up to $13bn in production tax credits plus $700m in upfront construction costs, hailed as the German automaker's first battery plant outside Europe. But the incentives could become a race to the bottom and be consumed in higher after-tax corporate profits and higher costs of production, with little or no benefit to workers overall.

https://www.theglobeandmail.com/business/commentary/article-canada-is-getting-played-by-stellantis-but-we-asked-for-it/

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Ottawa to Doug Ford: Spend more if you want to help save Stellantis battery plant

The Toronto Star

23-05-17 19:03

Stellantis, parent company of Chrysler, Jeep, and Fiat, has halted construction on its EV battery factory in Windsor, Ontario, citing its demands to match the US's manufacturing incentives under the Inflation Reduction Act. The province and federal government each contributed CAD $500m ($399m) for the facility, demanding that Stellantis and LG Energy Solution match subsidies to keep the project competitive in Canada. The Windsor facility will employ 2,500 workers once it reaches its full capacity. The Inflation Reduction Act was introduced six months after the initial March 2022 deal between the government and Stellantis, in which the federal government is contributing CAD $700m to VW's EV battery factory. However, negotiations became difficult as Stellantis demanded that the government live up to its promise to honour the agreement that was made three weeks prior to construction.

https://www.thestar.com/politics/federal/2023/05/17/ottawa-to-doug-ford-spend-more-if-you-want-to-help-save-stellantis-battery-plant.html

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Future of Ontario’s Stellantis battery plant remains unclear as Ford ‘disappointed’ in Ottawa

The Globe and Mail

23-05-17 18:37

The future of a $5bn electric vehicle battery plant joint project from automaker Stellantis LV and battery maker LG Energy Solution, in Windsor, Ontario has been thrown into doubt after the two companies halted construction and called on Ottawa to "keep its commitments." The federal government wants Ontario to contribute what it considers its "fair share" to the project, despite having promised in recent years to match subsidies available in the US on similar projects. Ontario Premier Doug Ford says the amounts requested are not clear and says it is Ottawa's job to match US support.

https://www.theglobeandmail.com/business/article-stellantis-ev-battery-plant-ontario/

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Pay me now, pay me later, pay me again: the Trudeau government’s industrial strategy

The Globe and Mail

23-05-18 11:00

The Canadian and Ontario governments are currently learning the hard way that when you pay a subsidy to one particular industry it can create a domino effect of ransom notes from other companies in that same industry. This is currently happening as Stellantis and LG Energy Solution are requesting an increase in state-subsidised funding for their electric vehicle battery factory after having seen their competitor, Volkswagen, already receive substantially better terms. Last year, Volkswagen was given $13bn worth of subsidies from Ottawa over ten years for its factory, which is 13% of the company’s market value, plus $500m from Ontario. Unfortunately for Canada, it doesn't look like it was satisfied with simply subsidizing Volkswagen and is now in danger of overpaying even more for Stellantis and LG’s ventures. This highlights the problematic nature of the government’s aggressive pursuit of electric vehicles, which could leave the taxpayer footing the bill for a series of increasingly extortionate ransom notes.

https://www.theglobeandmail.com/opinion/editorials/article-pay-me-now-pay-me-later-pay-me-again-the-trudeau-governments/

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Evening Update: WestJet cancels flights, parks planes ahead of Friday strike deadline

The Globe and Mail

23-05-18 21:03

WestJet Airlines cancelled scores of flights and grounded planes on 29 July in preparation for a possible pilot strike or lockout beginning on 30 July. The cancellations represent 85% of the airline's daily passengers. The Air Line Pilots Association has said that WestJet pilots are underpaid by around 40% compared to the North American average, and is calling for equivalent pay. WestJet called the wage demands "unreasonable". The WestJet pilot dispute highlights a pivotal moment at Canadian airlines, which are under financial pressure from higher labour, equipment and fuel costs. Additionally, there is little sign of a significant upswing in air travel, which was hit hard by the pandemic. Canadian travellers typically pay more for their flights than passengers in the US.

https://www.theglobeandmail.com/canada/article-evening-update-westjet-cancels-flights-parks-planes-ahead-of-friday/

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Ontario will put ‘more money on the table’ to keep Stellantis EV battery plant, Ford says

The Globe and Mail

23-05-19 15:59

Premier of Ontario, Doug Ford, has stated that Ontario is willing to give additional funds to Stellantis and LG Electronics Canada to keep them in Windsor, Ontario to prevent the halting of construction at their battery plant. The dispute began over funding, with both firms stating that the Canadian government has failed to match billions of dollars in incentives offered in the US through the Inflation Reduction Act. The exact cost of matching the IRA for either factory is unpredictable, due to the US subsidies being tied to how many battery cells and modules will be produced; however, it is likely to cost between CAN7bn and CAN13bn ($5.61bn and $10.45bn). The Canadian government have responded that Ontario needs to pay its “fair share” of the deal. Discussions will continue until a resolution can be made.

https://www.theglobeandmail.com/canada/article-ontario-funding-stellantis-ev-battery-plant/

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Doug Ford says he’ll offer more money to keep Stellantis EV battery plant in Ontario

The Toronto Star

23-05-19 15:37

The Ontario government has pledged to improve its financial package to Stellantis-LG Energy Solution to keep its $5bn electric vehicle battery factory in Windsor. Ontario Premier, Doug Ford, did not disclose the amount offered to the companies this week, yet this increased financial package will theoretically aid in preventing the plant from being lured away to the US states. Reports suggest this is following President Biden’s Inflation Reduction Act offering automakers huge subsidies. The plant being constructed in Windsor is scheduled to employ up to 2,500 people and was supposed to be opened early next year.

It is believed that Ottawa and Queen’s Park are under pressure to put together a more considerable subsidy for the plant as companies halted construction on Monday to obtain further subsidies that would match those offered to Volkswagen, which has a similar investment plan in St. Thomas. At present, the Canadian government’s production tax credits for Volkswagen in Canada is about $13.2 billion, which is the same amount that the carmaker could’ve received if they went to the United States. It is thought the tax deal for Volkswagen was a significant factor in luring the plant to Canada, which some say has helped secure Canada’s car industry for future production in electric vehicles.

Stellantis, which owns Jeep, Chrysler, Fiat, and Dodge, has declined to comment on the funding arrangement thus far. It should be noted that President Biden plans to provide US automakers a $100 billion overhaul towards electric vehicles to persuade reluctant American drivers to abandon petrol automobiles. This plan includes greater investments in charging stations and robust tax incentives.

https://www.thestar.com/politics/provincial/2023/05/19/doug-ford-says-hell-offer-more-money-to-keep-stellantis-ev-battery-plant-in-ontario.html

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Ontario offering more money to Stellantis, Ford says

The Toronto Star

23-05-19 15:20

Ontario is increasing its financial contribution in order to prevent automaker Stellantis from abandoning the construction of an electric vehicle battery plant in Windsor, Ontario. Although Stellantis and LG Energy Solution publicised a plan to build a $5bn factory last year, recent reports indicate that this plan has been prolonged due to the Canadian federal government failing to comply with bilateral agreements. The CEOs of Stellantis and LG Energy Solution wrote to Prime Minister Justin Trudeau indicating that they have not received subsidies initially agreed on. Canada offered Volkswagen a capital contribution of $700m and a production final offer of $13bn for similar production incentives.

https://www.thestar.com/politics/2023/05/19/ontario-offering-more-money-to-stellantis-ford-says.html