LS Group has been stepping up its research and development activities with the aim of increasing its competitiveness, the company said Monday.

As a part of the effort, the group is investing some 800 billion won ($718 million) to 900 billion won on R&D, core facilities and securing talented personnel, the company said.

In April, LS Group held the LS Partnership Day in Silicon Valley in the United States in a bid to introduce its capabilities and technology to investors and researchers there.

Since its establishment in 2003, LS Group has also been hosting the LS T-Fair to strengthen its competitiveness in technology.

LS Group chairman Christopher Koo has also initiated LS IP-Forum which is designed to improve its Intellectual property and patent competitiveness. At the forum, six LS Group-affiliated firms including LS Cable and LSIS, gather once every quarter to discuss IP related issues and seek ways to counter patent infringements.

LSIS, a global leader in smart grid and electricity materials, is also engaged in a technology sharing project with The Korea Institute for the Advancement of Technology to transfer intellectual properties such as design to small and mid-sized firms free of charge.

By Park Han-na (hnpark@heraldcorp.com)