LG’s 2008 spending for R&D in trillions

LG’s 2008 spending for R&D in trillions
March 13, 2008
LG Group, Korea’s third-largest industrial conglomerate, said yesterday its spending on research and development will rise 11 percent from a year earlier to 3 trillion won ($3.1 billion) this year. LG Electronics Incorporated and LG Chem Limited, the group’s leading affiliates, will get the lion’s share of the spending, the conglomerate said in a statement, without specifying how much will go to each unit. “R&D is the only viable route to survival in an uncertain business climate,” LG Chairman Koo Bon-moo said in the statement. Yonhap