LG Electronics is a South Korean multinational electronics manufacturer and has been in the market for almost 60 years (since October 1958). Its main headquarters are in Seoul, South Korea. It’s considered to be one of the four biggest family-owned businesses all over South Korea. It manufactures electronics like home entertainment, home appliances, mobile devices, and air cooling systems. It’s the world’s second-largest LCD TV manufacturer.
Now, LG Electronics has come far and has inaugurated its first integrated campus in Egypt last Thursday. This new campus includes a training academy, a display store for artificial intelligence (AI) products, and many administrative offices.
This store will exhibit LG’s biggest range of revolutionary technologies for its customers in Egypt and the Middle East. This will also include the latest innovations in technology that the company has made since globally. These innovations are OLED TVs, TwinWash washing machines, and inverter AC.
The new store will also include the first-ever Arabic language TV. This makes LG the first electronics company in the world to have developed a TV with customized services for its Arab users.
The inauguration ceremony will be attended by LG’s South Korean ambassador, Yeocheol Yoon. James Lee, the President of the Middle Eastern and African regions of LG, along with the company’s CEO, Don Kwak, will also be attending the inauguration ceremony as noted by sources.
Furthermore, Kwak stated in an interview with Daily News Egypt that LG Electronics is planning on investing $15 million more in the local Egyptian and Middle Eastern markets very soon. The company’s current investments worth $240 million will increase to $255 million, making this scheme a financial expansion plan as well.
Kwak added that Egypt can be a major hub for investment for LG Electronics giving them many opportunities. They reached a $200 million value on exports in 2018. This number represents almost 75% of the company’s production. The company seeks to do everything it can to increase the value of exports by entering newer markets in Africa.