LG Electronics Post Record F&E editions of W4.76Tr last year

LG Electronics Inc., South Korea's leading household appliances manufacturer, made a record investment of 4.76 trillion in WON (3.3 billion US dollars) on Monday to promote future growth engines last year.

The company's investment of the company marked an increase of 11.2 percent in the previous year in 2024 to reach the highest brand in its history, LG Electronics said in a regulatory submission.

The investment corresponds to 5.4 percent of the annual turnover of LG Electronics of 87.7 trillion WON 2024, compared to the corresponding balance of 5.1 percent in the previous year.

The company stated that investing investments to strengthen its competitiveness in future growth engines, including the technologies for home appliances that are supported by artificial intelligence and electronic devices for automobiles as well as heating, ventilation and air conditioning technologies.

The company added that it is planning to invest 4.3 trillion WON to advance the quality of its products and to develop new models this year.

In detail, it is planned to spend 1.16 trillion for household appliances and 936.9 billion for the business with automotive electronics, while they have won 1.7 trillion for F&E and infrastructure.

The regulatory report also showed that LG Electronics had 26,566 domestic patents and 69,765 overseas patents.

Last year, LG Electronics Automotive Electronics devices made a record of 39.9 million vehicles and achieved all-time turnover of 1.67 trillion in the rental business for home trowers. (Yonhap)