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LG Commits To Significant UAE Expansion
Published May 23, 2010
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LG Electronics (LG) inaugurated its new regional headquarters and LG Electronics Gulf offices in the presence of H.E. Dr.Rashid Ahmad Bin Fahad, UAE Minister Of Environment And Water. The global leader and technology innovator in consumer electronics said the move was part of its growing commitment to the UAE and recognition of the importance LG places on the Middle East market.
LG Electronics’ foothold in the region began in 1988 with a liaison office in Dubai and 10 people on the roster. In 1996 it became a subsidiary and now employs more than 270 personnel across its regional headquarters, LG Electronics Middle East and LG Electronics Gulf operations.
Mr. K.W. Kim, CEO LG Electronics Middle East and Africa (MEA) stated the catalyst for the increase in office space to more than 33,000 square feet was a combination of factors that placed increasing importance on the growth potential of the region.
“LG Electronics is committed to being close to its customers and understanding the unique needs they have in each market it operates in,” said Mr. Kim. “To this end, we have always maintained regional business think-tanks to determine product lines and design initiatives for each market. These teams are usually based in Seoul, Korea but we have successfully lobbied for the MEA team to transfer to LG regional headquarters here in the UAE.
“This means we will be able to get even closer to our customers; understand and anticipate their needs and be even faster to market with the products they desire.”
The office move coincided with LG doubling its workforce to target a huge 42.8 percent increase in revenues in 2010. LG revenues for MEA in 2009 reached US$3.5bn and its ambitious target for this year is to breach the US$5bn mark. Provisional figures for Q1 2010 show LG has already increased turnover by 20 percent over the same period in 2009.
“The region has experienced a tough 12 months, but we have taken the bold step of investing and expanding ahead of the curve,” said Mr. Kim. “We believe this commitment will reap dividends in 2010 and beyond.”
Mr. Kim added that LG’s commitment to the Middle East will increase further in 2010 with the addition of LG’s first Learning Centre in the region. The LG Learning Centre, situated in Jebel Ali Free Zone in Dubai, will provide training and support for LG’s distributors and staff across the Middle East and Africa.
For more information:
Haneen Aweidah
Helen Manson
T: 971 4 3344930
F: 971 4 3344923
E: Haneen.Aweidah@lg-one.com
E: Helen.Manson@lg-one.com
Posted by
VMD - [Virtual Marketing Department]
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