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

Reuters
An employee of LG Electronics walks behind company logos at a branch in Seoul February 21, 2005. REUTERS/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 (KSE:066570.KS - News) and LG Display Co Ltd (KSE:034220.KS - News), 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)