Korean LG Electronic recently announced the launch of a major initiative to earmark around one trillion Won (US$841.2 million; US$1 = 1,188 Won) for its solar battery business for the next five years until 2015, the Korea Herald reported. On June 18, LG opened its first production line manufacturing solar batteries and modules in Gumi, North Gyeongsang Province. The new facility, the former LG's PDP (Plasma Display Panel) production line, has solar cell production capacity of 120 megawatt, supplying cells and modules to European and local Korean companies. In addition, LG also is projected to launch another production line, with an aim to double the solar cell production capacity by year-end 2010 and expand capacity to one gigawatt within next three years, up from 120 megawatts at present, according to the same source.

 

Meanwhile, Samsung Electronics also plans to spend six trillion Won (US$5.05 billion) in the production of solar cells and modules over the next ten years.