LG Group CEO Koo Kwang-mo visited India, one of the world's largest potential markets, to review future growth strategies and discuss strategies for expanding in the Middle East and Africa. From February 24 for five days, he visited Bengaluru, New Delhi in India and Dubai in the UAE to review LG's global business competitiveness across R&D, production, and distribution — demonstrating strong intent to strengthen "leading position" in the Indian market poised to become the world's third largest economy.
India overview: approximately 1.45 billion population (world's largest); GDP world's 5th largest; approximately 40% of population under 25 — expected continued consumer market expansion for the next 20 years. S&P projects India to grow into the world's third largest economy by 2030. LG entered India starting with a software research institute in 1996, followed by LG Electronics (1997), LG Chem (1996), and LG Energy Solution (2023). India-specific products include anti-mosquito air conditioners, refrigerators maintaining cold for 7 hours after power outages, and washing machines with traditional "Saree" fabric-specific wash cycles. At LG's Software Research Institute in Bengaluru (LG's largest overseas research facility with 2,000+ local developers working on webOS, automotive SW solutions, and next-gen software), Koo emphasized: "India's role and importance in accessing accelerated SW technology innovation and securing outstanding R&D talent will grow further — we must clearly set the group-level global R&D direction for strengthening future SW competitiveness and definitely achieve it."
In Dubai, Koo met with the Korean Ambassador and major LG business partners in the UAE, conducting strategic discussions to strengthen brand presence in Middle East/Africa markets. LG aims to expand Middle East/Africa sales from approximately $2.5 billion (2024) to exceed $3 billion by 2030 through premium product strategy and B2B expansion.
