LG Technology Ventures, the recently launched strategic investment arm of South Korea-based electronics producer LG, has hired Taejoon Park from fellow corporate venturing unit Applied Ventures as an investment director.
Established in the US in May this year, LG Technology Ventures is equipped with $400m from LG and subsidiaries LG Chem, LG Display and mobile carrier LG Uplus, and will invest in developers of technologies such as artificial intelligence, robotics and auto components.
“The newly established unit is aimed at finding new business opportunities, and startups to acquire,” an unnamed LG official told The Investor without discussing further details of the fund.
Park had assumed several roles at Applied Ventures, semiconductor technology producer Applied Materials’ corporate venturing unit, after joining in 2012, most recently being promoted from senior investment associate to investment principal in early 2016.
The move followed the departure of Tony Chao, a senior investment director and general manager at Applied Ventures, in June this year to take up a partner role at venture capital firm Tyche Partners.
LG Technology Ventures’ chief executive is Dong-Su Kim, formerly a general manager at Samsung Ventures America, a corporate venturing subsidiary of consumer electronics manufacturer Samsung.
– Photo of Taejoon Park courtesy of Twitter.
