In response to the government’s emphasis on quality jobs and investment into new fields, LG Group said it will commit as much as 19 trillion won ($17.5 billion) in 2018 into new businesses such as electric car parts and next-generation displays, hiring 10,000 new workers along the way. The 19 trillion won investment is an 8 percent rise compared to this year. The research and development facility in LG Science Park in Magok, western Seoul, is also expected to create some 22,000 new jobs upon completion, according to the company. Support for subcontractors and parts suppliers was also discussed at the meeting. “To realize the mutual cooperation that was discussed during the presidential meeting, LG Group will provide a total of 858.1 billion won as loans to subcontractors,” said the finance ministry through a press release, adding that 186.2 billion won will be provided without any interest and the rest at low interest rates. “LG would like to contribute to the country’s economic development and as a part of the commitment, [the group] will provide active support to LG’s subcontractors including Top Engineering and Dongyang Industrial, who are here today, so that they can gain global competitiveness,” Koo said. The Finance Ministry said LG Display will expand the use of locally manufactured equipment, which was also mentioned during the presidential meeting in July.