LG has partnered with fintech Qraft Technologies on the launch of a new ETF.

LG Group (KRX: 003550), a South Korean conglomerate renowned for its electronic products, is leveraging its expertise in artificial intelligence to venture into investment management. Collaborating with South Korean fintech Qraft Technologies, LG is introducing the LG Qraft AI-Powered U.S. Large Cap Core ETF, with plans to officially list it in November after filing the application in mid-August.

This move into financial services is an extension of LG’s internal forecasting capabilities used for its affiliates. By utilizing time-series forecasting software, LG predicts prices for various raw materials and products, such as copper, lithium, semiconductors, and home appliances. Hwayoung Lee, Vice President and Head of AI Business Development at LG AI Research, stated that the financial market offers abundant data compared to other areas where data might be limited. (Nikkei Asia)

This expansion into the financial market also positions LG as a technology provider in areas like wealth management and investment. The LG-Qraft ETF aims to assemble a portfolio of approximately 100 large-cap companies, capitalizing on Qraft’s AI management expertise. This partnership is expected to influence the investment management industry through advanced AI solutions.

In a separate endeavor, LG Electronics is collaborating with Clearbrook to establish a $100 million venture capital fund named the Nova Prime Fund, drawing from companies involved in the Mission for the Future Program sponsored by LG Nova.

Furthermore, LG released an enhanced version of its AI software, Exaone 2.0, capable of processing both English and Korean information.

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