LG Group Chairman Koo Kwang-mo visited LG Electronics Inc.’s factory and research center in India in late February as it plans to list its Indian arm on the local stock exchange, while expanding production in the South Asian country.
During his four-day visit to India starting on Feb. 24, Koo inspected the production lines of refrigerators, washers and air conditioners in its factory in Noida, about 30 km southeast of New Delhi, India’s capital.
It also operates a factory in Pune, while building a third plant there.
“The next few years will be crucial in differentiating ourselves in the Indian market to stay ahead of our competitors. Given our current lead, this is a golden opportunity to establish a sustainable No. 1 position,” said the chairman.
“India’s role and importance will continue to grow in responding to accelerating software technology innovation and securing top R&D talent,” he said during his inspection of LG’s software research center in Bangaluru, the Silicon Valley of India.
He also looked around LG’s brand shop and electronics retail stores.
In 2024, LG Electronics posted its largest-ever sales in India of 3.79 trillion won ($2.8 billion), up 14.8% from the previous year. Its net profit surged 43.4% on-year to 331.8 billion won.
LG Group made its inroads into the world’s most populous country in 1996 with the establishment of a software R&D center. LG Chem Ltd. also landed in the country in 1996, followed by LG Electronics in 1997. LG Energy Solution Ltd., an electric vehicle battery producer, entered the Indian market in 2023.
After wrapping up his trip to India, Koo headed to the United Arab Emirates to review LG Group’s operations in the Middle East and Africa.
By Yeonhee Kim
yhkim@hankyung.com
Jennifer Nicholson-Breen edited this article.
