LG to Invest in R&D Mar 23, 2006

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LG Group said it plans to invest 7.3 trillion won (approx. U.S. $7.5 billion) within the next 2 years in research and development (R&D) to identify new growth engines. This year, the company will spend 3.2 trillion won (approx. $3.3 billion) and the rest will be invested the following year.

The company also said that it plans to employ more researchers to bring its total R&D staff to 24,500.

According to The Korea Times, LG said that the number will equal 19 percent of the group's total employment. This increase will be up from the 16 percent in early 2006.

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