LG Electronics added blockchain and cryptocurrencies as business directions in its updated charter.
The changes were approved by the company’s shareholders’ meeting.
The announced goals include “development and sale of blockchain-based software” and “sale and brokerage of cryptocurrencies”.
“Nothing has been decided yet. We merely mentioned the business areas in broad terms,” a company spokesperson told Korea JoongAng Daily.
Back in 2019, LG Electronics filed a patent application for a cryptocurrency wallet and announced the production of blockchain smartphones. The company exited the mobile devices market in 2021, unable to withstand competition.
In January 2022 LG, following Samsung, introduced a lineup of smart TV models with NFT support. The corporation also entered into a partnership with Seoul Auction’s division to realise projects in the digital collectible space.
In 2021 Samsung added support for its own cryptocurrency wallet to most Galaxy smartphones.