LG, Hyundai continue unseemly battle
Tweedledum and Tweedledee fight over big cake
The bickering between LG Semicon and Hyundai took a further twist late yesterday when both companies revealed details of how big a management share each wants in a future merged chip company. According to reports in today's edition of the Korea Times, LG Semicon is insisting on having a 70 per cent share in the merged chip company, an increase from the 50 per cent it had earlier settled. But now Hyundai has retaliated, with it also demanding a 70 per cent share in the chip operations. Earlier yesterday, a South Korean government minister had threatened to appoint outside managers if the two companies did not come to a swift resolution of their squabble. But the bickerings are only the prelude to further battles between the top five chaebols (conglomerates) in South Korea. So far, Samsung Electronics, which has a large semiconductor business, has remained silent about the unseemly row currently underway. ® Related stories: US to impose anti dumping tariffs on LG, Hyundai South Korean government gets angry at LG, Hyundai
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