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[Alpha Biz=(Chicago) Reporter Kim Jisun] Cho Joo-wan, president of LG Electronics, has been making a series of visits to Saudi Arabia and India, making active moves. In addition to existing markets such as North America and Europe, the aim is to preoccupy emerging markets and find future food.
According to LG Electronics on the 7th, President Cho visited Saudi Arabia and India on the 1st ~ 7th (local time).
The first destination of this business trip was Saudi Arabia. Cho visited the "Neom City" exhibition hall in Riyadh, Saudi Arabia, on the 1st and discussed business opportunities related to Neom City with a local corporation. Neom City is a super-large future new city that Saudi Arabia will invest more than 600 trillion won. Neom City includes several projects, including a 170-kilometer-long eco-friendly straight city, "The Line," "Oksagon," a high-tech industrial complex floating on the sea, and "Trozzenna," a mountainous tourist complex.
Cho later held a management meeting with heads of overseas subsidiaries in the Middle East and Africa, including Saudi Arabia and Egypt, to check mid- to long-term business strategies online and offline.
LG Electronics is paying attention to markets in the Middle East, including Saudi Arabia. LG Electronics' sales in the Middle East and Africa stood at 3.3572 trillion won as of the end of last year. It is the second largest sales region after Korea, North America, Europe, and Asia.
Since then, Cho, who moved to India, has visited the New Delhi sales corporation and the Noida home appliance plant one after another. LG Electronics, which has been in India for 26 years this year, has sales subsidiaries, production corporations, and technology development (R&D) centers in India. LG Electronics is Noi We are producing refrigerators, washing machines, air conditioners, etc. and TV· monitors in Pune.
LG Electronics is old this year Investment will also be increased to expand premium home appliance production capacity at the plant in Pune. It also plans to export home appliances such as refrigerators and washing machines produced here to the Middle East and Africa.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
