[Korea Herald]
GS to invest W20tr, hire 21,000 over next 5 years
Over the next five years South Korea’s chemical and energy giant GS Group will invest 20 trillion won (about $18 billion) and create 21,000 new jobs to promote growth and market competitiveness, company representatives said Sunday.
The investment, 4 trillion won each year, is 25 percent more than the average the group has spent each year over the last three years, and it will be spent mostly on the three pillars of the group’s business -- the petrochemical, energy and retail sectors.
A total of 14 trillion won will be spent to expand its existing petrochemical plants in Yeosu, South Jeolla Province, as well as its renewable energy production facilities and natural resource exploration projects overseas. To strengthen its sales network in and out of the country, the group will spend 4 trillion won on its retail arm while injecting 2 trillion into the construction and service sectors.