News

LG Investing $3.7 bn in Korean Research Facilities

LG have decided to pour a large sum of money into a research park in South Korea, soon to be called the LG Science Park. This park will be located within the Magok Industrial Complex in Seoul and is set for opening in 2020.

The $3.7 billion investment (4 trillion won) is said to be paid over the course of the construction of said facilities, which are destined to span 170,000 square meters and contain 18 buildings – amounting to double the size of LG Group’s headquarters in Yeouido, Seoul.

Located within this facility will be ten LG offices, coming in two stages. LG Electonics, LG Display, LG Uplus and LG CNS are said to be moving in 2017 for the first round – followed by LG Chem, LG Hausys, LG Household & Health Care, LG Life Sciences and SERVEONE to move at a later date. In total this will amount to 25,000 researchers located within the parks walls.

LG Group Chairman Koo Bon-Moo addressed the public in their ceremony hosted near the building site, claiming that he’s hoping to house workforce’s with different expertise and allow them to converge their ideas as one in order to develop innovative technology. He went on to explain that LG affiliates will also work in conjunction with small and mid-size firms and academics to achieve these results.

This park is said to incorporate over 7,000 solar-power modules on the buildings – producing 3 megawatts of energy per hour each.

Image courtesy of The Inquirer

Chris Smith

Disqus Comments Loading...

Recent Posts

BenQ MOBIUZ EX2710Q 27″ QHD 165Hz 1ms, HDRi IPS Gaming Monitor

SpeakersSpeakersYesSpeaker amount and power output2x 2 WattDimensionsLength / Depth252.5 mmWidth614 mmHeight525.8 mmWeight7.4 kgStandards / SpecificationsAdaptive…

3 hours ago

Intel Core i7-12700KF 3.60GHz Socket LGA1700 Processor

Thermal SpecificationsMax. TDP125 WCPUCPU ManufacturerIntelCPU SeriesIntel Core i7CPU Socket1700CPU ArchitectureIntel Alder Lake-SCPU Cores12CPU Threads20Performance Cores8Efficiency…

3 hours ago

AOC 24B3HA2 24″ 1920×1080 VA 100Hz 1m Widescreen LED Multimedia Monitor 

AOC 24B3HA2 23.6 1920x1080 VA 100Hz 1m Widescreen LED Multimedia Monitor - Black High-performance clarity…

3 hours ago

Corsair Hydro Series iCUE Link H115i RGB Performance Liquid CPU Cooler

Fan SpecificationsFan Size140 mmColourPrimary ColourBlackSecondary ColourWhiteMaterialsMaterialsAluminium, Copper, RubberLightingLightingYesLighting ColourRGBLighting CompatibilityCorsair iCUEAdditional ContentsIncluded fans2x 140 mmTypeCPU…

3 hours ago

Philips Evnia 34″ 34M2C6500/00 3440×1440 QD-OLED 175Hz 1ms FreeSync Curved Ultrawide Gaming Monitor

This monitor is built with features that make incredible visuals. With VESA ClearMR 9000 and…

3 hours ago

Asus Radeon RX 7900 XTX TUF OC 24GB GDDR6 PCI-Express Graphics Card

The AMD RDNA™ 3 Architecture elevated by buffed cooling and power delivery to effortlessly churn…

3 hours ago