 |
[Alpha Biz=(Chicago) Reporter Kim Jisun] LG is speeding up the improvement of its constitution, focusing on artificial intelligence (AI), bio, and clean tech businesses that have been selected as future growth engines. It plans to invest more than 7 trillion won in three major fields.
LG invests a total of 3.6 trillion won in R & D (R & D) over five years to secure the best artificial intelligence and big data technologies in AI. LG launched the LG AI Research Institute for AI research and development in 2020. In 2021, a year after its launch, the super-large AI 'EXAONE' was introduced, and in July last year, 'Exemployee 2.0' was released. Supermassive AI can learn large-scale data on its own and think and judge like humans. Chat GPT of Open AI is representative.
LG is strengthening collaboration with heterogeneous industries as well as affiliates centered on AI researchers. It is a preemptive measure to secure AI leadership early. LG affiliates are gradually achieving results by applying AI technology in the workplace.
The bio business is a field where LG Group Chairman Koo Kwang-mo is giving a big boost. LG acquired AVEO, a US new drug developer worth 800 billion won, through its affiliate LG Chem last year.
The LG Chem is focusing on strengthening its capabilities, including securing a new drug pipeline around Abeo. LG Chem's life science division, which leads the bio business, surpassed 1.2 trillion won in annual sales for the first time in history last year.
It will invest more than 1.5 trillion won over the next five years to develop innovative new drugs. We review various strategies, including M & A, and focus on securing advanced biotechnology. Through this, it plans to become one of the top 30 pharmaceutical companies in the world.
In addition, eco-friendly clean tech businesses such as carbon neutral and renewable energy are being intensively promoted. It invests 1.8 trillion won for 5 years.
It is expanding its business of biodegradable bioplastics, POE (LG Chem) for solar panel films, battery exchange system (BSS) business, integrated renewable energy power grid management (LG Energy Solution), and electric vehicle charging infrastructure (LG Electronics, LG Uplus).
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
