SK Holdings, KKR Launch $1.3B Renewable Energy Venture in South Korea 
Apple Eyes Chinese Memory Chips as AI Shortage Pressures iPhone Supply Chain 
Tesla Q2 Deliveries Lift Chinese Auto Suppliers as EV Demand Improves 
Kawasaki Heavy Shares Slide on Report of ¥200 Billion Capital Raise Plan 
Turkey Vehicle Sales Fall 11.4% in June as Auto Market Weakens 
Texas Man Charged After Fatal Tesla Full Self-Driving Crash in Katy 
EU Chip Industry Faces Growing Risks From China Export Controls and U.S. Technology Dependence: Report 
Anthropic Tightens AI Access Controls After Reports of China-Based Workarounds 
Gold Price Today: Bullion Heads for First Weekly Gain as Weak U.S. Jobs Data Eases Rate Hike Fears 
Meta CEO Zuckerberg Says AI Agent Development Has Slowed Despite Massive AI Investment 
Meta Stock Jumps as AI Cloud Expansion Challenges AWS, Microsoft, and Google 
Norway Offshore Oil Workers Reach Wage Deal, Averting Strike 
Gold Price Holds Above $4,000 as Fed Rate Hike Expectations and U.S. Jobs Data Weigh on Market 
Samsung to Invest $90 Billion in South Korea to Expand AI Chip, Display, and Battery Production 
US Stock Futures Hold Steady Ahead of June Jobs Report as Fed Rate Outlook Remains in Focus 
US Jobs Report Preview: June Payroll Growth Seen Slowing as Fed Rate Decision Looms 
Asian Stocks Slide as Chip Shares Tumble Ahead of Key U.S. Jobs Report 
LG Electronics and SM Entertainment are reportedly joining forces to form a new business venture. The electronics company may work with the entertainment agency to develop digitalized workouts and shows featuring health-related content.
As per the Korea Joongang Daily, LG Electronics and SM Entertainment are currently in talks for a possible joint venture, but some local media outlets published articles stating the two companies have already signed an agreement, and in fact, the business was found to have a registered address at SME’s headquarters in Seongsu-dong, Seoul.
Based on the reports, SM Entertainment and LG Electronics will introduce their new products within the first half of this year. This means that the consumers will see the products very soon.
The JV was said to have been tentatively called Fitness Candy, and each of the companies has put in ₩10 billion each to fund their new business. Apparently, this is a 50-50 joint venture.
"The two companies are in talks to set up a joint venture on healthcare content," LG Electronic’s spokesperson reportedly said on Thursday, April 14. He also declined to reveal more information by saying, "The details are not yet decided."
But while SM Entertainment and LGE have yet to reveal more information, it was reported that the new firm will be headed by sports marketing firm Galaxia SM’s chief executive officer, Shim Woo Taek.
Health care is one of the new business industries that LG Electronics has chosen to get into after permanently closing out its mobile phone business. The company is now looking at this sector as an engine for its future growth. It was only last month when it added healthcare devices to its list of products, expanding its home appliances line.
Moreover, digital content related to healthcare is popular these days so the demand for it is quite high. It is believed that the surge for such content was caused by the growth of home fitness due to the COVID-19 pandemic. Thus, LGE and SME are taking advantage of this by offering what the consumers are looking for through their new joint venture.
