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Sun 1 Oct 2006 04:00 AM

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LG considers Jordan as base for regional expansion

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South Korean consumer electronics giant LG Electronics is considering establishing a new regional office in Jordan servicing the Levant markets, following recent talks between the country’s prime minister, Dr Maaroof Al Bakheet, and LG chief executive officer S.S. Kim.

Al Bakheet recently visited South Korea on a trade and diplomatic mission, where he toured LG’s headquarters in Seoul.

The deal calls for LG to establish new regional headquarters in Amman servicing the countries of the Levant. LG currently services these markets from its regional headquarters based in Dubai, with an additional office located in Tehran that caters exclusively to the lucrative Iranian market. While it currently maintains a branch office in Amman, the new regional headquarters would mark a significant expansion in the company’s Middle East operations.

“Over the last 20 years, LG has managed to maintain a strong presence for itself in the Jordanian market,” Kim said. “We strive to further strengthen the bonds we maintain with Jordanian retail organisations.”

LG currently maintains an agency partnership with Amman-based Middle East Complex (MEC) servicing Jordan’s consumer electronics and household appliance retail sector. The new development is not expected to impact this arrangement.

Ghazi Farouq, assistant managing director at MEC, said: “We at MEC make it our mission to support LG in its quest for promoting economic development in Jordan.

“Through our collaboration with LG, we work in line with His Majesty King Abdullah II’s vision for promoting Jordan’s economic prosperity and its continued integration into the global economy.”

T.Y. Lee, the general manager of LG’s Amman branch office, said Jordan provided LG with an ideal base for implementing its regional expansion strategy.

“In Jordan, it is our priority to respond to the demands of consumers, and we are very much aware of the investment opportunities that the country has to offer,” he said. “We appreciate the efforts made by the Jordanian government to encourage investment, and we understand the benefits it will bring for both our firm and the national economy at large. LG intends to participate in developing local talents and in this regard we are considering making Jordan the main link for our operations across the Levant region.”

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