ANN/THE KOREA HERALD – LG Group Chairman Koo Kwang-mo recently visited India as part of the group’s crown jewel, LG Electronics’ efforts to explore future growth strategies and expand market presence in the region.
His trip came as LG Electronics prepares for the IPO of its Indian unit this year, valued at approximately USD15 billion, in a bid to tap into the bustling Indian capital market.
According to LG Group yesterday, Koo spent four days in India from February 24, visiting the cities of Bengaluru, known as the “Silicon Valley of India” and capital New Delhi. During his trip, Koo assessed LG’s value chain in the country, from research and development to production and distribution, while meeting with local employees.
Koo’s first stop was LG Electronics’ Noida plant, where the company manufactures home appliances, including refrigerators, washing machines and air conditioners.
“The next few years are critical in determining how we can differentiate ourselves and stay ahead of competitors in the India market. Now is the golden time to secure sustainable leadership,” Koo was quoted as saying. “Based on our accumulated understanding of customers and our solid market position, let’s make a leap forward for the next 30 years.”
Koo inspected the production lines for home appliances and urged local employees to develop and implement a strategy to distinguish LG from competitors to maintain its top position in the market.
He also visited LG brand shops and local retailers to gain insight into customer preferences and emphasised the importance of offering differentiated customer value. In Bengaluru, Koo visited LG Soft India, LG Electronics’ R&D centre, to evaluate India’s competitiveness and potential as the company’s global R&D hub.
“India’s role in responding to rapid innovations in software technology and securing top-tier R&D talents will become even more critical,” Koo told researchers there.
LG Soft India is one of the largest R&D institutes among LG’s overseas research facilities, alongside its Vietnam affiliate.
