LG Group Invests More than Ever for R&D

The LG Group announced on March 12 that it will invest 6.3 trillion won (US$5.5 billion) in R&D this year to solidify its leadership in such fields as auto parts, electric vehicle batteries, next-generation materials, the Internet of Things (Iot), and energy-saving tech. 

The group is planning to focus the investment on the development of energy storage systems, energy solutions like smart micro grids, flexible, foldable, and transparent display panels, and smart home technology. 

At the same time, it is going to invest approximately 1 trillion won (US$886 million) to accelerate the construction of the LG Science Park in the Magok District in Seoul, which will be the largest R&D complex in Korea.