Currently, LG employs 330,000 people, of which 120,000 work in R&D, accounting for 36% of the total workforce. In the first half of 2005, LG is expected to hire 3,000 new employees, of which 2,700 will be in R&D. LG is also still looking for an additional 300 people for R&D and is focusing on outstanding Korean students presently studying in the United States, Japan or Europe. LG has announced that it will add more than 700 people with Master's and PhD degrees to its workforce in the first half of 2005. For the end of 2005 the company has a goal of reaching a 10% annual growth in the rate of PhDs working LG.