Word: lg
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Dates: during 2000-2009
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...numbing Korean pop music, the tireless Kim, 59, cavorts in a mosh pit of drunken workers near a makeshift stage. Later he ascends the stage himself, microphone in hand, to croon out a popular oldie called Nui (Sister). "We love our CEO," says Kim Young Kee, an LG executive vice president. "He shows us a good time...
...CEOs rarely stoop to carouse with the common man in an Asia dominated by secretive business clans and ?lite old-boy networks. But Kim is no ordinary Asian boss. He began his career 35 years ago as a nondescript engineer at an LG refrigerator factory, climbed the ranks, and claimed the CEO post in October. Now he aims to duplicate the same feat with LG?lifting a consumer-electronics company little known outside Asia into the stratosphere of global brands with Sony, Panasonic and Samsung. "I want to go down in LG history," says Kim. "After death, a tiger leaves...
...LG seems well on its way. While most of the electronics industry, including Sony, suffered sagging growth and profits in recent years, LG's market presence surged. Revenues jumped 18% last year, to $17 billion, and net profits rose 33%, to $556 million. LG has the electronics world bracketed. At the commodity end, low-cost plants in China make the firm a power in developing markets. At the big-bucks, high-tech end, LG's home in broadband-rich South Korea has fostered a focus at LG on design and function that fits perfectly into the emerging digital home. Last...
...growth has brought LG to the cusp of greatness but not quite into the industry's aristocracy. Still missing is the global brand name crucial for commanding high premiums and outpacing low-cost manufacturers in China. It is an accomplishment hardly any Asian corporations have managed to achieve. "We've had success at the foothills," says Woo Nam Kyun, president of LG's digital-TV operation. "Now we have to climb the mountain...
...climb LG has chosen is Mount U.S.A. This year LG is making its biggest thrust ever into the U.S. market, with a $100 million budget for advertising alone. Last year LG spent $10 million refurbishing a billboard in New York City's Times Square into a giant flat-screen TV, and it helped renovate a Los Angeles concert hall. LG is also buffing up its U.S. product line. Last July, LG began introducing its first LG-branded flat LCD and plasma TVs in the U.S., and next year it will launch its first high-definition TVs with built-in hard...