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[Alpha Biz=(Chicago) Reporter Kim Jisun] LGU+ and Kakao Mobility's joint venture for charging electric vehicles failed to be established within this year.
According to the information technology (IT) industry on the 27th, the Fair Trade Commission is conducting a business combination review to establish a joint venture related to the electric vehicle charging business between LG Uplus and Kakao Mobility. However, the industry believes that the originally planned establishment plan by the end of this year will fall through as it takes more time than expected for both companies to collect and submit data needed for the FTC's review.
LGU+ and Kakao Mobility signed a joint venture agreement for the electric vehicle charging business in July this year. For the joint venture, the two companies invested about 25 billion won, each with a 50％ stake. LGU+ takes one more week than Kakao Mobility, which acquired 10 million shares and acquired 10 million shares.
After applying for a business combination review with the FTC for the establishment of a joint venture in the same month, the two companies planned to complete the process for establishing the company by establishing a mission, brand name, business strategy and direction within the year, and securing manpower.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
