LG Innotek, an electronics parts unit of South Korea’s LG Group, said Friday it has decided to invest 350 billion won (US$298 million) to expand its light emitting diode (LED) chip plant here by 2010.

LG Innotek is targeting 1.5 trillion in sales in the LED sector in 2012, the company said in a statement.

In late September, the company said it will invest 1 trillion won to build a plant in Paju, north of Seoul, to produce LED chips for liquid crystal display (LCD) backlights by 2012.

YonhapNewsAgency

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