LG recently opened LG Lifestyle Shoppe in the capital. Younchul Park, Managing Director, LG Electronics Inc, Singapore was in Nepal for the opening. Krishana Prasain of New Business Age caught up with Park to talk about, among other things, the growing market for electronic goods, LG’s different products and popularity in Nepal. Excerpts:
How do you find the market here after the April 25 earthquake and blockade?
Firstly, we felt very sad when we heard about the earthquake that caused damage to a lot of the physical infrastructure. But we believe that Nepal will recover from it very soon. Next the blockade has impacted the market a lot too. We hope that the blockade will soon be lifted and the market will get back its position.
How do you see the presence of the LG brand in the Nepali electronics market?
The Nepali market is one of the growing markets in electronics goods. Also, Nepal is a fast growing market for us. Talking about LG, I think it is one of the best brands liked by Nepali customers. So we have a very good presence in the Nepali market.
You said that Nepal is going to be a good market for electronic goods. How are you going to capitalise on this?
Definitely, we are the leading brand in the Nepali market. Every year we introduce new TVs, audios, microwave ovens, washing machines, refrigerators. Keeping up with the changes in technology is our main strength as we guarantee the best technology and quality in every new LG product. We are developing the technology to keep people more entertained and give them more satisfaction.
The present market trend is that Nepali customers are shifting with the new technology and this is a very good opportunity for us. We are happy with our partners as we have been in partnership for more than 30 years. We have a very beautiful relationship. Similarly, our business is also growing year by year in Nepal. Whenever we introduced a new product, our Nepali customers liked it. Nepali people like LG products and so we are happy.
Are you planning to introduce any new product in the market?
This year we are introducing a new TV. The LG OLED TV is a globally number one TV. Similarly, we are introducing an Ultra HD TV and a 4K TV so that in remote areas you can enjoy our TV without smart TV cards. We are also bringing out new music systems, washing machines and dryers. We also have a smart TV webOS where the TV can be connected to the internet and via that the world. We enhance our products to match the progress in society. We hope that these products will keep people happy. As we say at LG, life is good.
Any new schemes or offers?
We always try to provide the best to our customers and always try to understand customer behaviour. We provide schemes and offers according to the time and occasion.
There are a lot of new electronic goods in the market, so how do you keep up with competition?
We have a huge Research and Development (R & D) centre. As I said earlier, we are always trying to understand customer taste. We are ready to move with the changes in technology.