LG raises investments despite uncertain economy

Jan 07, 2013

LG Group says it is increasing annual investments to record highs despite the uncertainty in the global economy and slow consumer demand.

The South Korean conglomerate said Monday it is boosting spending on facilities and research and development by 19 percent in 2013 over a year earlier to 20 trillion won ($18.8 billion).

LG says it has allocated 67 percent of the investment to its electronics units, LG Electronics and LG Display.

will use 13.4 trillion won to build production lines for small-size LCD panels and advanced displays called OLED. Part of the money will be invested in developing future displays, including and transparent screens.

The group says LG Electronics, LG Display, LG Chem and other units will hire about 15,000 employees this year, same as 2012.

Explore further: India's Flipkart raises $1 bn to tackle Amazon

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carolgreen
not rated yet Mar 01, 2013
That will be good news even we have global crisis.But still, a pair of recent economic reports seems to present contradictory assessments of consumer attitudes about the economy. However, taken together, perhaps they just emphasize the financial doubt and confusion that is so easy to understand at this time of political brinkmanship. Article source: A loan that will let you pay back over time. personalmoneynetwork.com