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South Korea’s LG Electronics will invest US$7.57 billion (10 trillion won) to guarantee its own growth rate in 2024. As reported by Ukrinform, Yonha reported this. “Despite ongoing
As reported by Ukrinform, Yonha reported this.
“Despite ongoing macroeconomic uncertainty, we are committed to maximizing future growth by increasing investment based on our strategic priorities. The total amount of investment in future competitiveness is expected to reach 10 trillion won in 2024,” said Cho Joo-wan, the company’s CEO, on the sidelines of the CES 2024 exhibition in Las Vegas.
It was noted that 4.5 trillion won of the total amount will be directed to research and development, while the other 3.5 trillion won will be spent on regular maintenance of the company’s facilities.
The remaining 2 trillion won will be allocated to possible mergers and acquisitions.
The company had previously announced that it plans to invest more than 50 trillion won (about US$38 billion) by 2030 to complete the transformation of its business and reach sales of 100 trillion won (about US$76 billion).
“If we achieve an average growth of 7 percent every year, we can reach the target of 100 trillion won by 2030. This is not an empty slogan. We base these figures on a comprehensive study of our potential and capabilities.” Cho Joo-wan added.
As reported by Ukrinform, LG company has developed a two-legged assistant robot that works on the basis of artificial intelligence (AI) and can move independently around the house.
Photo: “Yonhap”
Source: Ukrinform
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