LG Solar also denies scaling back solar operations

28. February 2012 | Global PV markets, Industry & Suppliers | By:  Becky Stuart

Following media reports that some of Korea’s biggest solar players are looking to exit the arena, LG Solar has stepped forward to set the record straight.

LG Solar cell

LG Solar is not looking to get out of the solar industry.

Last week, pv magazine reported that, despite news published by the Korea Times, Korean heavyweights Samsung and Hyundai Heavy Industries were not looking to scale back their solar operations. Responding to the article, John Taylor, vice president of public affairs and communication at LG Electronics USA, has said that LG Solar – also mentioned in the Korea Times – has no intention of leaving the industry.

"LG’s global commitment to the solar business is very strong. In fact, the solar business is a key element of LG Corp.’s $6.8 billion of investments in green businesses planned by 2015. LG’s solar commitment also is strong in the United States, where new panels are rolling out and customers appreciate LG’s long-term dedication to the business (backed by our 25-year warranty)," he wrote.

James Lee, senior vice president added, "The U.S. is one of the fastest growing solar markets in the world, and LG Solar is keeping pace with this lively marketplace. LG’s high-efficiency modules and market-ready business strategy come at just the right time to meet market demand for solar power with high-quality and sustainable products that consumers and businesses alike have come to expect from a global technology leader."

pv magazine will be travelling to South Korea in March, with a view to reporting  on the latest solar market developments there.

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