LG Group to invest 11.3 tln won this year

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SEOUL, March 11 (Yonhap) -- LG Group, South Korea's third-largest family-run
business conglomerate, said Wednesday it plans to spend a total of 11.3 trillion
won (US$7.69 billion) this year on facility investment and research and
development.
The planned spending is similar to last year's figure, according to the group.
The investment will be focused on nurturing its main business lines such as
electronics and its new business portfolio.
The group plans to increase its spending on research and development activities
by 25 percent to 3.5 trillion won, but reduce its investment on facility
expansion and upgrades by 8 percent to 7.8 trillion won.
By sector, LG plans to spend 7.4 trillion won on its electronics business and 1.7
trillion won on its chemical business.
In telecoms and the service sector, a total of 2.2 trillion won will be spent, it
said.
The group also said it aims to post 116 trillion won in sales this year, up one
trillion won from last year.
sam@yna.co.kr
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