LG Innotek Co Ltd, an electronic component branch of LG Electronics, is planning to aggressively increase its investment in the blooming LED business and may require outside funding, the Reuters reports, citing senior executives of the company.

LED sales of the company grew by 23% in the second quarter from the previous quarter. And chief executive Hur Young said LEDs sales growth was expected to double in the second half of this year, according to the article.

The company had planned to invest about 150 billion won ($120.6 million) in its domestic LED plant, but Hur said that amount "will be nowhere near enough; our capital expenditure will rise faster than expected". The comapny is considering options to raise cash without hurting the company's financial base.

The company already has plans to issue convertible bonds and bonds with warrants in August to raise 100 billion won in total. While securing cash internally, issuing new shares could be one option, though there was no firm plan for a fund-raising deal in the second half, the executives said.