Since becoming CEO, William Cho has made internal adjustments and reshaped LG’s business portfolio. He has also been seeing LG offices and factories worldwide.
CEO Cho visited Riyadh’s exposition hall to learn about the NEOM City Project in early June. He was exposed to three fascinating projects: ‘The Line,’ a 170km-long ecologically friendly vertical metropolis; ‘Oxagon,’ an octagonal high-tech industrial floating complex; and ‘Trojena,’ an iconic mountain resort.
“LG will secure various business opportunities in a wide range of fields such as mobility, air solutions, commercial displays, home appliances, TVs, and IT for the NEOM City project by leveraging the company’s innovative technology accumulated over the years,” stated CEO Cho.
The CEO also visited LG’s air solutions facility in Riyadh, which makes high-efficiency premium air conditioners. LG’s air solution products, noted for their cooling efficacy and energy efficiency, are ideal for the MEA region’s year-round hot temperature and high air conditioner demand.
The CEO met with management to discuss MEA’s long-term business objectives.
“Globally, our presence in Saudi Arabia is crucial. “Our local factory aligns with the Saudi Vision 2030 and plays a key role in producing green energy level products while forming the central production base for the region, exporting to up to 16 countries in the middle east and Asia,” said Mr. Cho. LG will continue to pursue sustainable growth and market leadership.
CEO Cho next visited India, the world’s most populated nation and LG’s expanding market. The CEO briefed local personnel on the company’s future. LG’s 26th-anniversary Indian subsidiary has dominated the Indian market by increasing its infrastructure, including sales and production subsidiaries and R&D facilities.
Mr. Cho visited LG brand stores, R&D facilities, and home appliance and TV manufacturing lines to learn about local operations and the subsidiary’s commercial competitiveness and growth goals. He discussed electric car charging options and EduTech using digital whiteboards and IT solutions with important New Delhi sales subsidiary workers.
CEO Cho stressed LG’s commitment to market leadership in India, given its large market and development potential. He stressed the importance of online commerce and the company’s goal of expanding online sales in India by using a culturally relevant digital approach.
LG started a direct-to-consumer (D2C) business and an online brand shop (OBS) this year in response to the rise of online purchasing.
Mr. Cho said the company will expand on its No. 1 market position and proactively create future businesses in India, a vast market with significant growth potential.
CEO Cho visited Noida and Pune to inspect the company’s home appliance and TV production lines. He also assessed eco-friendly smart factory progress.
LG aims to spend more in these two sites to make luxury home appliances by 2025. These plants sell local and MEA-exported washing machines, air conditioners, TVs, and monitors.