Asia Express - Mobile Communications
LG Conglomerate to Inject 15 Trillion Won in 2010 Investment Plans
January 15, 2010
The Korean LG conglomerate is projected to earmark 15 trillion Won (US$13.7 billion; US$1 = 1,122.4 Won) for its investment plans in 2010, a 29% increase from the investment in 2009, Korea's Yonhap News Agency reported on January 12. Of the total investment, approximately 3.7 trillion Won (US$3.3 billion) will be allocated for R&D in 2010, up from three trillion Won (US$2.7 billion) in 2009. Meanwhile, LG Electronics, with its expertise in mobile phones, Smartphones, smart TVs, solar batteries, LED (Light Emitting Diode) panels, and 3D panels will be awarded the remaining 10.8 trillion Won or 72% of the total investment, according to the same source.


Furthermore, LG stated that the company will also earmark 1.9 trillion Won (US$1.7 billion) for the development of telecom and service areas in 2010, including 4G mobile technology and that the company's subsidiary LG Chem plans to invest 2.3 trillion Won (US$2.0 billion) into the development of lithium-ion batteries for use in mobile phones and PCs.