South Korean firm LG Electronics Inc has said it will invest 527 billion won ($435.67 million) on new solar panel production facilities in the country over the next three years.
The company aims to triple its capacity by 2020, Reuters reported.
The company would add six new solar panel production lines at Gumi, a city about 200 kms southeast of Seoul, by the first half of 2018, an official statement from the firm said.
Headquartered in Seoul, the company employs 83,000 people working in 119 local subsidiaries worldwide.
With global sales of USD 53.1 billion in 2013, the company operates its business through five divisions: home entertainment, mobile communications, home appliance, air conditioning and energy solution, and vehicle components.