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LG Electronics to establish new biz center in U.S. to seek future growth engines

All News 18:19 November 26, 2020

SEOUL, Nov. 26 (Yonhap) -- LG Electronics Inc., a major home appliance maker in South Korea, on Thursday said it will set up a new business unit in the United States to seek future growth opportunities.

LG's North American Innovation Center will be based in Silicon Valley, California, with the task of exploring new business opportunities and cooperating with leading tech firms there, the company said.

Rhee Sokwoo, who served as an associate director at the U.S. National Institute of Standards and Technology (NIST), will head the center, it added.

In its latest reconfiguration of business units, LG also announced that it will establish a business incubation center to support various new business opportunities.

This file photo taken on July 30, 2020, shows the headquarters building of LG Group in Seoul. (Yonhap)

LG will also set up "CX Lab" that will be managed directly under the CEO to bolster design capability related with user experience.

LG added its robot business center will be now managed under its business solutions unit.

Meanwhile, the electronics giant promoted a total of 56 executives in its annual personnel reshuffle, up from 49 last year.

The company named Lyu Jae-cheol, who has been leading its living appliance business, as a new chief for its home appliance & air solution (H&A) business division.

kdon@yna.co.kr
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