LG puts focus on new technologies

LG Group, a major Korean electronics manufacturer, plans to focus its resources this year on developing technologies in four areas - solar cells, light-emitting diodes, rechargeable batteries and air conditioning systems, the group said yesterday.

“It is time to develop unique source technologies that can create value for future customers and differentiate LG,” said Chairman Koo Bon-moo.

The announcement was made in a group executives meeting to report on LG’s innovation efforts. Two hundred executives including LG Corp. Vice Chairman Kang Yu-sig and LG International Corp. Vice Chairman Koo Bon-joon attended the meeting held at LG Chem’s research center in Daejeon. The group’s planned research and development investment this year is 3.7 trillion won ($3.27 billion), which is a 23-percent increase from last year’s.

According to the plan, group affiliates will see technology projects divided between them. LG Chem will develop polysilicon, an important material for solar cells, while LG Electronics will study how to improve the efficiency of the renewable energy source. LG Electronics and LG Display will join forces to develop thin-film solar cells.

LG Electronics began operations at its solar cell factory, capable of producing 520,000 120-megawatt solar cells annually, early this year. Next year, it will add a production line to make 240-megawatt cells.

LG Electronics intends to expand its lineup of LED lights, while LG Innotek will develop LED components. Light-emitting diodes are known to consume less energy and last longer than other light sources.

In air conditioning, LG Electronics intends to provide total building management solutions in partnership with LG CNS and develop technologies to make the process more energy efficient.

LG Chem plans to develop new materials to be used in rechargeable batteries, and the company also intends to develop technologies to prolong the life of batteries to be used in automobiles.

By Limb Jae-un [jbiz91@joongang.co.kr]