LG Electronics will boost its facility investment by about 20 percent to 3.57 trillion won ($3.17 billion) this year, according to the company Wednesday.
In a report to the electronic disclosure system by the Financial Supervisory Service, the electronics maker unveiled its annual investment plan that reveals which business the company will focus on in 2017.
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(Yonhap) |
The company said it will allocate 544 billion won to the vehicle component division, accounting for about 15 percent of the total investment.
The home appliances and home entertainment divisions will be given 576.5 billion won and 233.1 billion won, respectively. The mobile communications division will be allotted 184.4 billion won.
Considering that the vehicle component division’s sales last year stood at 2.7 trillion won out of the company’s total sales of around 55 trillion won, the investment amount is considered large enough.
“The company has been increasing investments in the vehicle component business, nurturing it as a new growth engine,” a company spokesperson said.
LG’s vehicle component investment rose about 65 percent compared to last year, signaling the company’s willingness to boost the business.
By Song Su-hyun (
song@hearldcorp.com)
