LG to invest $700m in Asia

LG to invest $700m in Asia

SEOUL (Reuter): South Korea's LG Electronics Inc, a unit of LG
Group LUGG.CN, said yesterday that it would invest US$700 million
in Asia, excluding Japan and China during 1996-2000.

A company statement said this would bring LG Electronics sales
to $4 billion from the region in 2000.

The company targets regional sales of $1 billion this year and
$1.7 billion in 1997.

LG will invest $300 million in expanding an electronics
complex in Indonesia. Projects include capacity expansion of
color televisions, refrigerators, color picture tubes and color
display tube plants, it said.

LG also intends to spend $300 million in India by 2000 and the
remainder in other Asian countries.
LG Group earlier announced its member firms would invest a total
of about $5 billion during the period in various projects in the
region.