In a Monday disclosure, South Korea's fourth-ranking business conglomerate, LG Group, revealed that it plans to increase the investment in its electronics business division by a record 20 trillion won (11.69 billion pounds) this year.

The approximately one-third increase in the investment by the LG Group in 2013 is apparently aimed at taking on rivals like Samsung Electronics; with part of the increased spending to go towards the expansion of production lines for organic light-emitting diode (OLED) displays and high-resolution liquid crystal display (LCD) panels.

According to LG Group, which has almost 40 subsidiaries, an investment of approximately 14 trillion won has been earmarked for the plans pertaining to the expansion of the mentioned production lines at its factories.

In addition, LG Group's statement about the increased investment also revealed that some portion - around 6 trillion won - of the planned spending will also support research and development (R&D) linked to smartphone-specific software, flexible displays, ultra-high definition TV sets, and OLED TVs.

Despite the fact that LG Group has not yet given any specific breakdown of its investment plans for each of its subsidiaries, it is speculated that the increased investment - marking a 19.1 percent rise over the company's 16.8 trillion won investment in 2012 - which chiefly benefit LG Electronics, LG Display, and LG Innotek.