LG intends to keep South Korean workforce intact

"We are thinking to avoid laying off people in the short term," Nam Yong told reporters, though suggested there may be some job losses in other countries.

LG Electronics, a major global manufacturer of mobile phones and flat screen televisions, announced it aims to cut costs this year by 3 trillion won (US$2.2 billion).

"We need to standardise and rationalise our businesses," Nam said.

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