LG Electronics to invest $7billion in 'green new business'
LG Electronics has announced it is to invest 8trillion won ($6.83billion) in what it describes as 'green new business' sectors.
The South Korean giant plans to invest the money into markets such as led lighting and electric vehicle parts.
According to LG, 2trillion won will be pushed into the electric vehicle battery sector by 2013, 1trillion won into photovoltaic, led and water treatment sectors and 490bn will be invested in the polysilicon business by 2014. A further 400bn won has been set aside to build facilities to produce solar cell wafers by 2015.
LG's business group intends to generate 10trillion won in revenues and create 10,000 new jobs through the investments.
