LG Electronics Hungarian subsidiary acts as a regional center, its office in Budapest not only supervises the company’s activities in Hungary but is also responsible for the coordinated commercial activity of ten other countries in East Central Europe and the Western Balkans.
As LG Electronics Hungary Managing Director, Hyeong Tae Kim explains to Diplomacy&Trade, “LG’s philosophy revolves around people: we are committed to providing products that help customers live better. Through ceaseless innovation, we are offering a wide range of products that enable our customers to lead a better, healthier, more productive life, whether in their home, workplace or leisure time. In order to do this, we manage a diverse product portfolio from our regional office in Budapest from Home Appliances, Air Solutions, Home Entertainment and Mobile Communications to Business Solutions.”
LG’s business and the pandemic
He adds that like most companies, LG has also faced new challenges during the pandemic, but “thankfully we are adapting and staying strong despite the uncertainty. On the other hand, as people all over the world settle into new lifestyle habits, enjoying a safer and more convenient at home life style is becoming increasingly important.” These unprecedented times give a fresh perspective on realizing new potentials for the home, accelerating the need for more multifunctional living spaces. Healthy home solutions, good entertainment options and tools for effective home offices are more important than ever in the new normal, and LG is ready to answer these increasing customer needs with its products on the market.
LG is synonymous with consumer electronics but the company also offers business solutions. The Managing Director highlights that as technology is continuously changing and exponentially growing, today’s businesses can rely on LG’s business solutions to transform their processes, improve their productivity, agility and energy efficiency.
“New technologies and innovative applications allow real value propositions for our B2B customers. Our main areas of solutions include state-of-the-art information displays, such as hotel TVs, cloud and medical monitors, transparent OLED displays and immense LED signage, as well as energy efficient commercial air solutions. LG products can be seen in businesses across Hungary, including office buildings, hotels, event halls, shopping malls, sports stadiums, and even in some hospitals.”
Trends and expectations
The Managing Director points out that a major trend on the market in the past few years has been the rising importance of artificial intelligence (AI) solutions and connected smart home ecosystems. “This is an area we are very much invested in. Many of our products already incorporate AI to make our customers’ lives easier and the user experience better: for instance, our premium OLED and LCD TVs not only use AI-powered algorithms for perfect sound and picture quality, but can also serve as hubs for smart homes, and we have washing machines that can detect the weight and material of the fabric that is loaded into them – just to name a few examples. As these innovations evolve and become more widespread, they will provide a seamless experience unlike anything before. We expect that this trend is going to accelerate as stay-at-home measures all over the world strengthened the need for smarter spaces.”
When it comes to naming the most popular LG products in Hungary, Hyeong Tae Kim admits that the company’s product portfolio is so diverse that it is difficult for him to choose just a few of the most popular items. “We are pioneers and a leading manufacturer of OLED TVs, which provide image quality unlike any other display technology. Our monitor range provides premium displays to gamers, creative professionals, office and home office workers alike. Customers strongly appreciate our home appliances that focus on health and hygiene, such as our bottom-freezer refrigerators with NatureFresh technology, steam washing machines, dishwashers and air solutions with air purification. We also find it important to regularly introduce exciting new products in Hungary: we recently launched our first wireless headphone, the LG Tone Free with a special UVnano case that is capable of killing bacteria, the LG VELVET, a smartphone with an extremely unique, stylish design, and we are about to introduce our world-renowned clothing care system, the Styler as well.”
Commitment to sustainability
As far as the 'green' elements in production and in serving the clients are concerned, the Managing Director stresses that LG’s commitment to sustainability is strong on a global level. In 2019, the company launched its Zero Carbon 2030 initiative, pledging to achieving net-zero carbon emissions from its global operations by 2030. “We constantly research and introduce energy-efficient, environmentally friendly products, and we also invest in educating our audiences about the sustainable use of technology, such as avoiding food waste with adequate food storage, saving water or being more conscious about energy consumption.”
Striving to help
Caring for the environment is just one of the elements of LG’s corporate social responsibility policy. The Managing Director refers to the company’s corporate CSR slogan ‘Life’s Good with LG’, which reflects that “we are always striving to help in areas, where our products can make a difference, whether it is donating medical monitors to a hospital, a refrigerator for an organization giving out food for people in need, or smartphones for children with serious illness to stay in touch with their friends and families. We are currently running a global #LGComeHomeChallenge in support of families with inadequate housing or no housing. LG will make a donation to Habitat for Humanity Korea, with plans to donate home appliances to furnish newly built homes. The appliances will be installed in new homes being built in India, Kenya and Vietnam to create safe havens for families in need.”