Kawasaki Heavy Shares Slide on Report of ¥200 Billion Capital Raise Plan 
SK Holdings, KKR Launch $1.3B Renewable Energy Venture in South Korea 
Chinese Copper Foil Maker Londian Files U.S. IPO as EV Battery Demand Grows 
Switch Seeks $2 Billion Funding at Nearly $50 Billion Valuation Ahead of Potential IPO 
Lockheed Martin Emerges as Frontrunner to Acquire Ultra Maritime in $3.5 Billion Defense Deal 
Samsung to Invest $90 Billion in South Korea to Expand AI Chip, Display, and Battery Production 
Trump Reports $1.4 Billion in Crypto Income as Digital Assets Become Top Wealth Source 
Kuaishou Stock Jumps as Kling AI Secures $2 Billion Funding Round 
Anthropic Tightens AI Access Controls After Reports of China-Based Workarounds 
Apple Expands iPhone Lineup, Boosts Foldable iPhone Production Plans Through 2027 
Sodexo Raises 2026 Revenue Outlook After Strong Q3 Sales Beat 
Apple Eyes Chinese Memory Chips as AI Shortage Pressures iPhone Supply Chain 
Meta Stock Jumps as AI Cloud Expansion Challenges AWS, Microsoft, and Google 
Norway Offshore Oil Workers Reach Wage Deal, Averting Strike 
Trump Administration to Launch Voluntary AI Standards for Frontier Models 
Super Micro Employees Detained in Taiwan AI Server Export Investigation 
DOJ Seeks Dismissal of Fraud Charges Against Gautam Adani in U.S. Court 
LG Group emphasized that its planned spin-off of affiliates would benefit stockholders amid criticisms it could undermine shareholder value.
The response was made after US-based hedge fund Whitebox sent a letter to its board of directors to urge the conglomerate to cease the planned affiliate spin-off.
Whitebox claimed that LG's decision to spin off affiliates in a new holding company prioritizes family over minority shareholders as it was done to allow a member of the founding family to start his own business rather than to create shareholder value.
Whitebox holds a 1 percent stake in LG Corp.
According to LG, it believes its shareholder value will improve since it can focus on its key businesses, including telecommunications, electronics, and chemicals.
Last month, LG Group, South Korea's fourth-largest conglomerate, decided to set up another holding company to prepare for a spin-off.
The new holding firm will have LG Hausys Ltd., LG International Corp., LG MMA Corp., and Silicon Works Co. under its umbrella.
It will be managed by the board of directors led by Koo Bon-joon, a younger brother of late LG Group chief Koo Bon-moo and uncle of current LG Group Chairman Koo Kwang-mo.
The move was is perceived as an initial step for Bon-joon to establish his business group.
If the spin-off plan at its shareholders' meeting in March 2021 is approved, the conglomerate will begin operating with two holding companies in May 2021, before Bon-joon splits his companies from the group.
