By Kim Hyun-bin
LX Group recently marked two years since its launch, after being spun-off from LG Group in 2021. As its total assets have increased by 40 percent under group chairman Koo Bon-joon's leadership, the management of LX Group has been characterized as stable and pursuing a steady external expansion policy as well as qualitative growth.
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 Fair Trade Commission, which acknowledged the separation of LX from LG Group in June last year, newly designated LX Group as a conglomerate on April 25, which made it the 44th largest conglomerate by asset ranking.
 |
| LX Group Chairman Koo Bon-joon |
LX Group has LX Holdings as its holding company and 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.
![[RAS KOREA] Preserving memories at Cheongju City Archives](https://img.koreatimes.co.kr/upload/thumbnailV2/53ecc69c116c49af9ba0005288526ab5.jpg/dims/resize/178/optimize)
![[INTERVIEW] 'No more part-time jobs': VANNER talks about life after winning 'Peak Time'](https://img.koreatimes.co.kr/upload/thumbnailV2/79128864ba1643498f9a49fc7a82f2f1.jpg/dims/resize/178/optimize)
