SEOUL, June 22 (UPI) -- LG Electronics said it was investing $820 million in a 5-year plan to boost solar cell manufacturing at a plant in South Korea.
The electronics company last year converted a plasma display panel assembly line in South Korea to a solar panel line. LG said it started mass production of crystalline solar cells at the facility this year.
The company in a statement lauded solar energy as a part of a growth strategy that included 1 gigawatts worth of solar production. This, said LG, would contribute to sales of $2.4 billion by 2015.
"We are determined to make LG a leading player in the renewable solar energy business and our Gumi production facility is the centerpiece of this vision," said Kwan-shik Cho, vice president of LG's solar business.
