[THE INVESTOR] LG Electronics said on Jan. 31 it has signed an agreement with US manufacturer Honeywell International to collaborate on developing vehicle security solutions.

Under the agreement, LG and Honeywell will work together on the development of four security solutions that will be essential for autonomous vehicles, LG said in a statement.

“This partnership with Honeywell, which has ample business experience and exceptional skills, will help in the development of the so-called ‘all-in-one’ security solution,“ said Lee Woo-jong, an executive of LG’s digital appliance division, in the statement.

LG said the partnership will bring synergy effects as Honeywell has 30 years of know-how in security solutions.

Financial terms of the agreement were not disclosed.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)