LG Electronics to Review European Home Appliance Business on 28th
France Lyon Likely to Become Southern Air Conditioner Business Hub
Growing Attention Amid Olympic Air Conditioner Shortage Signs
Jo Joo-wan, CEO of LG Electronics, will visit Paris and Lyon, France, consecutively at the end of this month to inspect the home appliance business, including air conditioners. LG Electronics' HE (Home Entertainment) division, which handles the TV business, holds a significant share in the European market, making it unusual for the CEO to personally oversee the air conditioner business. Especially with the Paris Olympics scheduled for the end of next month, the issue has arisen that the organizing committee did not install air conditioners in the athletes' village, which is expected to aid air conditioner marketing.
LG Electronics CEO Cho Joo-wan hosted the overseas talent recruitment program 'LG Electronics North America Tech Conference' in Cupertino, California, USA, on the 11th of last month (local time), presenting the company's AI strategy and business vision to the attendees. [Photo by Yonhap News]
According to the home appliance industry on the 19th, CEO Jo will meet with Lee Cheon-guk, Vice President and Head of LG Electronics Europe, and Kim Hyuk-gi, Managing Director of LG Electronics France, on the 28th in Paris to receive a business status report. In particular, the H&A (Home Appliance & Air Solution) division will provide a report on the air conditioner business at this meeting.
The air conditioner market in France has been growing annually in recent years. The global market research firm Statista forecasts that the French air conditioner market size will be 1.12 billion euros this year and will grow at an average annual rate of 8.45% until 2029.
A source familiar with LG Electronics said, "CEO Jo is expected to receive reports on the business status of air conditioners and TVs from the regional head and the Paris office head and discuss how to leverage the Olympic special demand."
After completing the Paris schedule, CEO Jo will move to Lyon in southern France to check on the expansion of air conditioner maintenance and employee product training.
LG Electronics particularly sees high potential for air conditioner sales in southern France, including Lyon. The southern region of France is hot and dry in summer, leading to high demand for air conditioners. Lyon is expected to become LG Electronics' business hub for air conditioners in southern France.
LG Electronics is currently opening a new office related to the air conditioner product training center in Lyon and plans to establish a global HVAC (Heating, Ventilation, and Air Conditioning) academy there by the end of the year. Starting from Lyon, the company plans to expand its business to major cities such as Nice and Marseille.
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