PR Newswire - LG Chairman Koo Kwang-mo Champions Group's "Second Leap" in Key Global Markets

Strategic Visits to Bengaluru, New Delhi, and Dubai to Enhance Future Growth Strategies

SEOUL, South Korea, March 4, 2025  /PRNewswire/ -- LG Corp. (LG) Chairman and CEO Koo Kwang-mo has initiated a "Second Leap" for LG with strategic visits to key markets, including India and the UAE, highlighting their growing importance for LG's global strategy.

India, with its population of approximately 1.4 billion, is the world's most populous country. Nearly 600 million people, or around 43 percent of the population, are under the age of 25, presenting a significant demographic advantage expected to drive consumer market growth over the next two decades. International rating agencies project India to become the world's third-largest economy by 2030.

Recognizing these trends, Chairman Koo met with employees and business leaders in India to evaluate LG's competitiveness across the value chain, from R&D to manufacturing and distribution. He expressed gratitude to LG employees for their dedication in overcoming challenges and strengthening LG's presence in India.

Building on 30 Years of Success: A Vision for the Next Era

Chairman Koo emphasized LG's commitment to India, stating, "India is not just a key market for LG but also a land of immense opportunity for global companies. Leveraging our deep understanding of customers and our strong market position, we will seek to collaborate with the people of India to become the nation's most trusted brand and drive our growth for the next era."

LG's journey in India began in 1996 with a software research center, followed by expansions from LG Chem (1996), LG Electronics (1997), and LG Energy Solution (2023). Over nearly three decades, LG has established itself as a market leader through a highly localized strategy tailored to Indian consumers.

LG Electronics, which entered the Indian market in 1997, has expanded its presence through advanced technology and localization strategies. The company introduced an air conditioner that repels mosquitoes using ultrasound to combat dengue fever and developed a refrigerator that maintains cold temperatures for up to seven hours during power outages, addressing India's specific needs.

Building on its strong market presence, LG Electronics has made significant investments to fuel its next phase of growth in India. LG Electronics operates manufacturing facilities in Noida and Pune and is discussing plans to establish a new production site in Andhra Pradesh to meet increasing market demand.

Beyond home appliances, LG has expanded its investments in the battery, chemical, and energy sectors. LG Chem has refined its strategy to target the high-value-added materials market, while LG Energy Solution is exploring opportunities in the growing electric vehicle battery and energy storage system markets.

Strengthening Global R&D Strategy in India

Bengaluru, often referred to as India's Silicon Valley, plays a vital role in LG's global R&D strategy. Chairman Koo visited LG Soft India, LG's largest overseas software research center, which houses over 2,000 developers working on the development of the webOS platform, automotive solutions, and next-generation technologies. Opened in 1996, the facility is one of LG's largest overseas R&D centers around the globe.

Chairman Koo highlighted the importance of collaboration with R&D centers in India and urged researchers to focus on enhancing LG's software competitiveness. "The rapid pace of software technology innovation makes India's role increasingly vital," stated Chairman Koo. "With nearly 30 years of accumulated research expertise, we should continue to enhance and differentiate our software capabilities."

India's IT industry is a key driver of economic growth, contributing 7 percent of GDP. The country boasts a strong talent pool, with over five million software developers and approximately one million engineering graduates entering the workforce each year, making India a preferred R&D hub for global technology giants.

Listening to on-site insights on LG's Business Competitiveness

Chairman Koo continued his visit in New Delhi, listening to on-site feedback from LG Electronics' production and distribution network. At the Noida production facility, he discussed India's evolving consumer landscape, competitive environment, and market trends. He also visited the home appliance production lines, including refrigerators, washing machines, and air conditioners, discussing future investments and market strategies.

In addition, he explored local retail environments, including LG Brand Shops and major retail chains such as Reliance, where he carefully gathered opinions on products tailored to Indian consumer needs. These included refrigerators with convertible freezer compartments to accommodate vegetarian households and AI-powered washing machines optimized for Saree fabric care, reinforcing the importance of delivering locally differentiated customer value.

Dubai: A Strategic Hub for the Middle East and Africa

Following his India visit, Chairman Koo traveled to Dubai, a key strategic hub for LG's Middle East and Africa operations. He discussed the status and strategic directions of LG's business in the region and visited major home appliance distribution stores to assess market trends and the competitive landscape.

LG has been active in the Middle East since 1982 and currently operates 12 subsidiaries across the region, covering sales, manufacturing, and services. "The Middle East and Africa region presents both challenges and significant growth opportunities," said Chairman Koo. "We must adopt a strategically sophisticated approach to establish this region as a key pillar of LG's future growth."

About LG
Founded in 1947, LG is a technology innovator and global leader in consumer electronics, automotive components, ESS, and organic light-emitting displays (OLEDs). LG Corporation (LG Corp.) is the holding company for industry-leading LG subsidiaries, such as LG Electronics, LG Display, LG Energy Solution, and LG Chem, to name a few. The LG group of companies employs over 270,000 people in more than 60 countries that together generate USD 140 billion in annual revenue. For more information about the LG group of companies, visit lgcorp.com