LG Electronics said Sunday it plans to build a new research and development center for its home appliance division due for completion by 2017 in Changwon, South Gyeongsang Province.
The company started the construction work early this month, with a budget of 200 billion won ($182 million). The new 20-story building will be located on a 51,810 square-meter site, accommodating some 1,000 researchers.
A rendering of LG’s new home appliance R&D center. (LG Electronics)
Changwon, some 400 kilometers southeast of Seoul, has played a key role for LG’s home appliance strategy. The company has also operated R&D centers for washing machines and air conditioners in the city.
“We will lead the global home appliance market through continuing investment in R&D, while contributing to the development of the local economy as well,” said LG Electronics president Cho Sung-jin.
By Lee Ji-yoon (jylee@heraldcorp.com)
