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[Alpha Biz=(Chicago) Reporter Kim Jisun] LG Electronics brought about 600 billion won in retained earnings from overseas subsidiaries into Korea in the first quarter of this year. It will be used for various facility investment resources along with support for domestic subsidiaries.
According to the Financial Supervisory Service (FSS) on the 19th, the headquarters of LG Electronics' overseas subsidiaries in the first quarter of this year was 596.4 billion won. It is an increase of 280.6% from the dividend (156.7 billion won) in the first quarter of last year. Dividend income for overseas subsidiaries in the first quarter of 2021 was 0 won.
Dividends for each overseas subsidiary in the first quarter of this year were 391.6 billion won for Indian subsidiaries, 160.7 billion won for Thai subsidiaries and 25.3 billion won for Singapore subsidiaries. Indian corporations with annual sales of KRW 3 trillion to KRW 4 trillion had the largest allocation. LG Electronics maintains its market share in the Indian market in home appliances.
LG Electronics is known to have lent some of its funds from abroad to LG Display. The company lent 1 trillion won to LG Display twice in March (650 billion won) and April (350 billion won). LG Display said, "We will strengthen the competitiveness of the organic light emitting diode (OLED) business and use it for operating funds." LG Electronics will also use some of its overseas subsidiaries' dividends for domestic investment. The company plans to invest 4 trillion won in facilities this year.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
