UPDATE 1-Samsung, LG Elec hit records on outlook, won

(Recasts to combine Samsung shares)

SEOUL, May 15 (Reuters) - Shares in South Korea's top electronics makers Samsung (005930.KS: Quote, Profile, Research, Stock Buzz) and LG (066570.KS: Quote, Profile, Research, Stock Buzz) jumped to fresh records on Thursday powered by strong earnings outlooks and the deepening weakness of the local currency.

"Their earnings are improving fast and the recent share price gains have yet to catch up the upgraded outlook," said Lee Sung-joon, an analyst at SK Securities.

"The government seems to be fine with the won's recent weakness and it will help electronics exporters a lot."

The won's value <KRW=> has fallen about 11 percent against the dollar so far this year, compared with a less than 1 percent loss for all of 2007. A softer won helps local exporters price their goods more competitively in foreign markets.

Samsung Electronics Co Ltd, South Korea's biggest stock, was up 1.36 percent to 748,000 won by 0252 GMT, also helped by expectations that a top management shakeup would reinvigorate the world's biggest maker of memory chips and liquid crystal display (LCD) screens.

The stock rose as much as 2 percent to hit a lifetime high of 753,000 won.

Samsung announced on Wednesday a management reshuffle under which CEO Yun Jong-yong is to be replaced by Lee Yoon-woo, whose previous stint as head of Samsung's chip unit is seen positive.

LG Electronics Inc jumped 4.52 percent to 162,000 won, after rising 5.8 percent earlier to hit record 164,000 won.