LG to Boost Solar Business

20 June 2010 (Last Updated June 20th, 2010 18:30)

South Korean electronics manufacturer LG Electronics said it aims to invest KRW1trn ($828m) in its solar cell business by 2015. The South Korean firm will generate revenues of KRW3trn ($2.4bn) from the business by 2015, according to a company statement. LG completed work on a

South Korean electronics manufacturer LG Electronics said it aims to invest KRW1trn ($828m) in its solar cell business by 2015.

The South Korean firm will generate revenues of KRW3trn ($2.4bn) from the business by 2015, according to a company statement.

LG completed work on a new solar cell production line in 2008 and will add another line this year.

The company plans to boost its production capacity to almost 1GW within three years from the 240MW it produced in 2010.

Production at the line began this year and the firm is serving markets in Europe and South Korea.