LG and Magna to manufacture electric powertrain components LG Magna e-Powertrain headquarters in Incheon, South Korea LG Electronics and Magna International have signed a transaction agreement to set up a joint venture between the two companies. The new company, to be called LG Magna e-Powertrain, is headquartered in Incheon, South Korea and will be led by a strong management team. Leading the new company will be CEO Cheong Won-suk, a 20-year LG veteran who was most recently vice-president and head of the LG Vehicle component Solutions Company’s Green Business. Prior to LG, Cheong spent nearly a decade with Daewoo Motors R&D.