 |
| LG Electronics CEO Cho Joo-wan, second from left, visits an exhibition hall in Riyadh showcasing the Neom City project, Saudi Arabia, June 1. Courtesy of LG Electronics |
By Kim Hyun-bin
LG Electronics CEO Cho Joo-wan recently visited Saudi Arabia and India to seek new business opportunities to further elevate the brand's presence in foreign markets, according to company officials, Wednesday.
Cho visited the exhibition hall of the proposed smart city construction project dubbed Neom in Riyadh, Saudi Arabia, on June 1. He received an introduction to three projects: The Line an eco-friendly linear city spanning 170 km, Oxagon an octagonal advanced industrial complex floating on the sea, and Trojena a mountain tourism resort. He had in-depth discussions about the business opportunities associated with these projects.
Subsequently, a management meeting was held to review the medium-term business strategy for the Middle East and Africa region.
"Leveraging LG Electronics' accumulated technological capabilities, we will secure various business opportunities in a wide range of fields, including optimized home appliances, TVs, and IT products for the Neom City project, as well as mobility, robotics, air solutions and commercial displays," Cho said.
The CEO then visited a premium air conditioner production site at a manufacturing base in Riyadh, where energy-efficient components were being incorporated.
Cho also visited India, a country experiencing rapid growth as the world's most populous nation, to examine measures for enhancing business competitiveness. LG Electronics, now in its 26th year in the Indian market, has established a localized integrated business structure comprising sales subsidiaries, production facilities and R&D centers. It has gained recognition from the market and customers, solidifying its position as a premium national brand.
In New Delhi, Cho first discussed various expansion plans for new businesses, such as mobility and educational technology utilizing electronic whiteboards and IT solutions. He also emphasized the continuous refinement of localization strategies, including premium appliances, differentiated customized services and strengthening online sales capabilities.
"In India, a market with significant size and substantial growth potential, we will expand our overwhelming position as the number one market leader and strategically further grow and develop our business," Cho said.
LG Electronics has introduced specialized products tailored to local conditions in India, considering factors such as climate conditions, power infrastructure and the cultural preference for movies and music.
![[INTERVIEW] With '30 Days,' Kang Ha-neul finds new level of comfort in acting](https://img.koreatimes.co.kr/upload/thumbnailV2/83a5770de8d8420da3634fb8b78266c1.jpg/dims/resize/178/optimize)
![[INTERVIEW] ONEUS returns as 'mermaid prince'](https://img.koreatimes.co.kr/upload/thumbnailV2/8cc3b8d992cd4b8bb43395b014670ca2.jpg/dims/resize/178/optimize)
