LG Electronics of South Korea announced three strategic appointments for its wholly owned subsidiary, LG Electronics India (LGEIL), on Wednesday. Moon B. Shin has been appointed Deputy Managing Director of LGEIL. He comes in from Korea where he was the Head of Overseas Sales & Marketing of LG Digital Appliance Company. Having entered the Indian market with rich global exposure, he aims to steer LG India to become the most respected global brand.
In another strategic move, Dr Y V Verma has been elevated to Director, HR and MS. Dr Verma has been with LG Electronics since its inception in 1997, as Vice-President (HR & Management Support) and has been responsible for corporate and factory HR, training, innovation, general affairs, corporate PR, legal and government liaison. He has been an active force in all-strategic decisions behind LGEIL becoming one of the most respected brands in the India market.
J H Park, who is credited for R&D and innovation initiatives that have made LG India facilities among the best global operations of LG, has been elevated as Director - Manufacturing. He oversees the operations of LGEIL’s Greater Noida and Pune plants.
Said, K R Kim, President, South West Asia, LG Electronics, and Managing Director, LGEIL, “These movements are in sync with the fact that Korea acknowledges that India is the most strategic market for LG globally. India has already attracted investments worth $250 million for the next six years. We have set a turnover target of Rs 9,000 crore for 2005 and with tactical movements in our organizational structure, LGEIL reiterates its commitment to India.”
LG Electronics is one of the youngest consumer durable brands in the country, encompassing a portfolio comprising colour televisions, washing machines, air-conditioners, microwave ovens, refrigerators (direct cool and frost-free), PCs, vacuum cleaners, audio, DVDs, PDPs, optical storage devices and GSM mobile phones. The company achieved a turnover of Rs 6,500 crore in 2004, and commands an enviable position in the GSM mobile phone market. LGEIL plans to manufacture GSM phones at its Pune plant.
Our typical marketing budget is usually 10 per cent of the topline spend