Thursday, January 05, 2006

LG Group Committs $10 Billion to R&D

The LG Group will pump $10 billion into its facilities and research and development programs over the next two years.

The conglomerate will be focused on raising the cash flow which it will committ to R&D in its three major industries -- electronics, chemical, and telecommunications.

In electronics field, the group will focus the investment on developing next-generation mobile phones, digital televisions, liquid crystal display (LCD), plasma display panel (PDP), home network, and digital multimedia broadcasting (DMB).

In the chemicals division, the company plans to concentrate on research of polyvinyl chloride (PVC), ABS, batteries, polarizing plates, and clean energy.

For the telecommunication fields, it has keen interest in the triple play service (TPS), which wraps high-speed internet, internet calling and broadcasting into one, and broadband convergence network (BCN).

LG Chairman Koo Bon-moo said in his New Year’s speech that core technology is essential in order to survive in a changing business environment.

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