March 12, 2015 / 1:32 AM / 2 years ago

South Korea's LG Group says plans record 6.3 trillion R&D investment in 2015

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An employee of LG Electronics walks behind company logos at a branch in Seoul February 21, 2005.You Sung-Ho

SEOUL (Reuters) - South Korean conglomerate LG Group on Thursday said its companies plan to invest a record 6.3 trillion won ($5.57 billion) in research and development in 2015 to secure future growth.

LG Group, which has arms including appliances maker LG Electronics Inc (066570.KS) and LG Display Co Ltd (034220.KS), said in a statement that technologies like electric car batteries, next-generation displays and the so-called Internet of things were key areas for investment.

An LG Group spokeswoman said the conglomerate spent a combined 5.9 trillion won on research and development last year.

Reporting by Se Young Lee and Sohee Kim; Editing by Stephen Coates

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