LG chief visits Saudi Arabia to discuss smart city megaproject

Industry

Published: 07 Jun. 2023, 18:14

LG chief visits Saudi Arabia to discuss smart city megaproject

LG Electronics CEO Cho Joo-wan tours the exhibition hall of Saudi Arabia's mega-scale smart city project NEOM in Riyadh on June 1 to discuss new business opportunities for the electronics manufacturer. [LG ELECTRONICS]

The CEO of LG Electronics discussed potential cooperation in Saudi Arabia's mega-scale smart city project "NEOM" during his visit to the Middle Eastern country.

Cho Joo-wan was briefed about the key components of NEOM, including the Line, a linear city that will house 9 million people with 95 percent of the land reserved for nature; Oxagon, a port and logistics hub; and Trojena, the first major outdoor skiing destination on the Arabian Peninsula, while touring the exhibition hall of NEOM in Riyadh on June 1.

NEOM is a 26,500 square kilometer (10,200 square mile) project located in northwestern Saudi Arabia and will contain numerous cities, resorts and other developments. The project’s aim is part of the country’s vision to diversify the country’s economy to reduce its dependence on oil.

“With the technology that LG Electronics accumulated over the years, the company will secure various business opportunities in mobility, robots, air solutions and displays, as well as in household products, TV and IT services perfectly tailored for the NEOM project,” Cho said.

Cho also visited India on Tuesday to look over its New Delhi subsidiary and household product manufacturers in Noida. The company first entered the Indian market in 1997 and established itself as a credible brand in premium household projects, TV and IT services.

Cho discussed new business opportunities in the mobility sector and electronics board with employees at the New Delhi subsidiary.

In Noida, Cho looked over factories for household appliances such as refrigerators, air conditioners and washing machines, as well as progress on its smart factory project. The company had previously announced that it will transition all of its overseas factories to fully run on renewable energy by 2025.

BY LEE JAE-LIM [lee.jaelim@joongang.co.kr]