SEOUL, KOREA - LG Electronics decided to establish a state-of-the-art R&D center at its Changwon No. 1 plant in South Gyeongsang Province, a region where it has a key consumer electronics production base. The company signed an investment agreement with the Changwon city government and the South Gyeongsang Provincial government on September 30.
Attended at the signing ceremony were Hong Jun-Pyo, governor of South Gyeongsang Province, Ahn Sang-Soo, mayor of Changwon, and Cho Sung-Jin, president of LG Electronics.Under the terms of the agreement, they will make concerted efforts to help R&D workers settle down stably there, as well as to contribute to the development of the regional economy.
LG Electronics plans to invest a total of 150 billion won to build the R&D center which will be a 20-story building.
The R&D center is scheduled to open by May 2017. The R&D center will be used to research a variety of home electronics items, including refrigerator and water purifier (from the 1st to 12th floors), compressor (from the 13th to 15th floors), and gas range and microwave oven (from 16th to 20nd floors).