LG Group To Invest $74.4 Billion Over Next 5 Years

South Korean conglomerate LG Group will invest 100 trillion won ($74.42 billion) within the country over the next five years, its holding company LG Corp said on Wednesday.

LG Group aims to ensure it remains competitive by allocating half of the domestic investment in future technologies such as artificial intelligence (AI), environmentally clean technology and other growth fields such as batteries, auto parts, and next-generation displays, the company said in a statement.

It did not immediately offer a breakdown of the investment by affiliate companies, which include LG Electronics, petrochemical LG Chem and battery maker LG Energy Solution.

(Reporting by Jack Kim; Editing by Tom Hogue and Rashmi Aich)