LG Group announced plans to domestically invest 100 trillion won, or around 74 billion U.S. dollars, through 2028, half of which will be funneled into future technologies such as AI and biotechnology, and growth engines like batteries and next-generation displays.

Such pledges were made as a part of the group's mid- to long-term investment plan unveiled at the annual shareholders meeting in Seoul on Wednesday.

The pledged 100 trillion won is equivalent to 65 percent of LG Group's annual global investments, which the company said reflects its commitment to driving innovation and fostering growth in the domestic market.

Around 55 percent of the total investment will be injected into research and development initiatives aimed at establishing South Korea as a major base for innovation in key materials and manufacturing, including smart factories.

In a message read by LG Corporation Vice Chairman Kwon Bong-seok, Group Chairman Koo Kwang-mo said LG will focus on securing competitiveness for commercialization in growth engine projects, while accelerating the AI, biotechnology and clean tech future initiatives to establish them as a pillar of the firm’s future portfolio.