LG names new Middle East and Africa boss

Consumer electronics and IT colossus LG has shuffled its Middle East and Africa management pack, naming K.W. Kim as its new regional president. K.W. Kim replaces K.H Kim who has moved back to LG’s headquarters in Korea as a consultant.

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By  Stuart Wilson Published  January 17, 2006

Consumer electronics and IT colossus LG has shuffled its Middle East and Africa management pack, naming K.W. Kim as its new regional president. K.W. Kim replaces K.H Kim who has moved back to LG’s headquarters in Korea as a consultant. The newly appointed K.W. Kim joins LG Middle East and Africa from Korea, where he served as VP of LG’s digital media overseas marketing division company. Kim has been with LG for more than twenty years, playing a pivotal role in the global success of LG’s digital media products. Kim played a key role in LG’s expansion in Europe and was the first president of the vendor’s offices in Austria and Hungary. In his new role as president of LG Middle East and Africa will be charged with accelerating sales growth in the region. LG posted regional sales of US$2.1 billion. The company claims that this put LG in top spot as the region’s number one consumer electronics vendor. One of Kim’s first tasks will be to announce LG’s regional financial results for 2005. “With Kim’s track record and business experience, we are confident that he will be able to grow our business in the region as it enters a new phase of development. The Middle East and Africa region is a strategic market for LG Electronics and contributes significantly to LG’s global results. Kim’s appointment comes at a time when we have seen considerable growth and opportunity for LG and our growing community of partners,” said outgoing MEA president K.H. Kim. “The past two years, as the president of LG’s Middle East and Africa Operations, have been interesting and challenging and I will look back on this time with a great deal of satisfaction. LG aims to become the top national brand in every country it operates in and during my tenure here, the company has maintained its market leading status as the leading supplier of TVs, air conditioners, monitors, refrigerators, mobiles, washing machines, PDPs and optical storage products. According to the 2004 Gallup brand equity index survey, LG is the second most recognised electronics brand in the Middle East and Africa, achieving 55.7 percent unaided brand awareness regionally,” he added. New president K.W. Kim said: ““Mr. K. H. Kim leaves behind a very impressive legacy, my goal is to take the company to its next level of expansion. My main aim is to strengthen LG’s market leading position by rolling out technologically advanced products to cater to the demands of this market. My immediate challenges are to continue development of emerging markets in this region, to cement our existing product leadership and add further leadership sectors, to increase unaided brand awareness throughout the region and raise our achievements in customer service indices.” “Only core technological leadership can ensure sustained growth and the company will continue to invest in research and development in electronics, focusing on businesses growth and expanding manpower. LG will gradually increase investments every year to reach US$3.38 billion in 2007 and more than US$5.1 billion in 2010, making a grand total of US$25.3 billion spent on R&D by 2010,” he concluded.

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