The board of directors of LG Corp. (KOSE:A003550) agreed to split off LX Holdings Corp. on November 26, 2020.

Ratio of split off LG Corp : LX Holdings Corp. is 0.9115879 : 0.0884121. LX Holdings also plans a five-to-one share split, and the existing LG Corp.

shareholders will receive a 0.44 share of LX Holdings per old LG Corp.'s stock. LX Holdings will be located at the office of LG International in Gwanghwamun, central Seoul and it would control the subsidiaries LG International Corp, Silicon Works Co., Ltd., LG Hausys, Ltd. and LG MMA Corp. The transaction is subject to approval of shareholders of LG Corp.

The transaction has been approved by the Board of Directors of LG Corp., on November 26, 2020. Record Date for General Shareholders' Meeting is December 31, 2020. Modified Listing & Re-listing of LX Holdings Corp is on May 27, 2021.

As of May 11, 2021, LX Holdings Corp.'s confirmation of non-issuance of shares were received. The largest shareholder of LG MMA Corp. is changed to LX Holdings Inc. due to the division of the company.

The date of completion of split off is May 1, 2021.