LG Group Chairman Reviews Indian Operations Amid Expansion Plans
India: LG Group Chairman Koo Kwang-mo visited LG Electronics' manufacturing and research facilities in India in late February as the company prepares to list its Indian subsidiary on the local stock exchange and expand production in the country. During his four-day visit, he inspected the production lines for refrigerators, washing machines, and air conditioners at the Noida factory, while also reviewing operations in Pune, where a third plant is under development. Emphasising the importance of maintaining a competitive edge, he highlighted India's growing role in advancing software technology and attracting top research and development talent. Koo also visited LG’s software research centre in Bengaluru and its retail outlets to assess market presence.
LG Electronics reported record sales in India in 2024, reaching KRW 3.79 trillion (USD 2.8 billion), marking a 14.8% increase from the previous year, with net profit rising by 43.4% to KRW 331.8 billion. The company first entered India in 1996 with the establishment of a software research centre, followed by LG Chem in the same year and LG Electronics in 1997. More recently, LG Energy Solution entered the Indian market in 2023. Following his visit to India, Koo travelled to the United Arab Emirates to review LG Group’s business operations in the Middle East and Africa.
Source: The Korean Economic Daily