LS Cable Acquires Korea Motion Works Shares for 150 Billion Won
LS Cable, a subsidiary of LS, announced on the 30th that it will acquire 150 million shares of Korea Motion Works, a manufacturer and distributor of rare-earth permanent magnets, for 150 billion won.
According to the disclosure, the acquisition amount is equivalent to 6.96% of LS Cable's consolidated equity capital of 2,156,689,002,857 won as of the end of 2025.
Following the share acquisition, LS Cable's ownership stake in Korea Motion Works will become 100%. The scheduled acquisition date is December 31 of this year.
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LS stated that the purpose of this acquisition is to enter the rare-earth permanent magnet business.
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