SEOUL, KOREA - LG Electronics will create a division specializing in automotive parts manufacturing. To that end, the company will transform itself into a five-division structure from current four divisions. According to industry sources on June 13, LG Electronics will establish a new auto parts business unit by merging an auto design company V-ENS.
As part of the move, some of the employees in the HE division and the EC division working on navigator, car audio, and auto motor manufacturing will be reassigned to the newly created division, whose total employees would be close to 1,500. Even though the auto parts division will be much smaller than MC division (8,057 employees) or HE division (7,701), it would be almost comparable to HA division (3,125) or AE division (2,414).
As head of the new auto parts unit, it is highly likely that Lee Woo-jong of current V-ENS president would be appointed. An LG Electronics official said, "It is our policy we never engage in finished car manufacturing. The organizational structure of the new division has not been discussed yet."
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