Seoul— LG Electronics CEO Cho Joo-wan announced Thursday that the company is intensifying its focus on emerging markets across Southeast Asia, South America, and Africa as part of its long-term growth strategy.
In a post on LinkedIn, Cho highlighted the shifting dynamics of the global economy, shaped by rapid technological advancements and evolving geopolitical conditions. “The global economy is entering a new era — shaped by rapid technological and geopolitical changes,” he wrote. “In this shift, the Global South — once seen as emerging — is now leading innovation and growth.”
The term “Global South” refers to a broad group of developing and less-developed nations, predominantly located in the Southern Hemisphere. These regions are increasingly attracting global consumer brands, fueled by young populations and growing economic clout.
Quoting data from institutions such as the International Monetary Fund (IMF), Cho described the Global South as a new engine of global transformation, spearheading economic growth, reshaping supply chains, and accelerating digital and technological progress.
“As a rising force in consumption, production, and innovation, the Global South is a key growth partner,” Cho stated. “LG Electronics is committed to long-term collaboration through sustainable technology and localized solutions.”
Cho’s comments reflect LG’s broader commitment to tailoring its business to the unique needs and opportunities in these high-potential regions. The company is expanding its presence in critical segments such as heating, ventilation, and air conditioning (HVAC), commercial displays, and smart factory systems.
As part of this strategy, Cho recently toured LG’s operations in India and Indonesia to oversee ongoing expansion efforts. In April, LG broke ground on a new $600 million home appliance manufacturing facility in India, which is expected to serve as a key production hub for the country and neighboring markets, including the Middle East and Bangladesh. The plant is slated to begin production by the end of 2026.
The move underscores LG Electronics’ vision to align itself with the fast-growing economies of the Global South by investing in sustainable technologies and localized innovation. (Source: IANS)
