LG Gets aggressive with it's R&D Program

Chosun Ilbo Article August 26, 2004
The LG Group will newly employ a total of 11,800 research and development workers by 2007. In order to secure talented employees, all the group’s officers and workers will serve as headhunters and chief executive officers (CEO) will hunt directly for competent technological workers.

The group’s 50 CEOs, including chairman Koo Bon-moo, disclosed their plan to secure talented employees during a strategy meeting held at LG Academy on Thursday. Six affiliate companies like LG Electronics and LG Chem. will hire 11,800 R&D workers by 2007.

In order to gain a competitive advantage in future strategic fields like the production of display panels and wireless devices, five electronics-related affiliates such as LG Electronics, LG Philips LCD, LG Innotek and LG Micron, will increase the number of R&D employees from the current 14,000 to 24,000 people by 2007. In order to consolidate information and electronic material businesses like rechargeable batteries, LG Chem. will augment the number of its R&D workers from the current 1,400 to 3,200 by 2007.

BTW, the once second largest Korean conglomaote split into two new entities, LG and GS, in July 2004. The move was designed to better focus the conglomoate between manufacturing (LG)and retail /service (GS).