LG rare entertainer at dull Yeosu Expo
By Kim Yoo-chul
While the World Exposition in Yeosu has been a bit of a letdown, LG Group says it’s still managing to use the event to raise its corporate profile.
Disappointing visitor numbers and a lack of inspiration from the products, technologies and services displayed at Yeosu have worried organizers. But LG has invested heavily in its pavilion to try and cause a buzz and increase its exposure as a global corporate power.
Group officials say the LG Pavilion is targeting potential customers from developing nations, including China, Vietnam, Thailand and the Philippines. The company needs to diversify its markets for consumer electronics, mobile phones and displays as the economic news from Europe and North America worsens.
``The LG Pavilion is helping us boost partnerships with businessmen in emerging Asian economies. So far, some 200 CEOs and businessmen from Asia have discussed business opportunities with our executives,’’ said Choi Jun-hyuck, a spokesman for LG.
He declined to give specifics on deals supposedly inked on the sidelines of the expo.
At least 550,000 people have visited the LG Pavilion since the expo opened in May. The venue has been receiving around 8,000 visitors daily and 10,000 on peak days, according to Choi.
The space features LG’s cutting-edge 3D technology that illustrates the firms’ diversity and capability.
The LG Pavilion has been picked up by event organizers as one of the most-recommended spots to visit. With the theme ``Life is Green,’’ the 1,960-square-meter hall also expresses the concepts of the group’s environmentally-friendly devices such as solar batteries and portable washing machines.
LG Electronics, the world’s second-biggest flat-screen TV maker has been battling globally with rival Samsung Electronics in the growing 3D TV and 3D application-embedded device markets.
Admitting that almost every country is facing challenges in maritime development and protection, Choi hopes the Yeosu Expo can become a platform where different nations share and exchange various case studies about ocean conservation.
``That’s the reason why most features inside the LG Pavilion are based on water and nature,’’ he said.
LG has increased its revenue target for green projects this year, having done the same in 2011. It is aiming for 4 trillion won in sales from those areas, up 1 trillion won from last year.
It also plans to make green businesses one of its main cash generators by 2015, while establishing a sales goal at over 10 trillion won for the same year, Choi said.