LG Electronics, the South Korean giant manufacturer, is inaugurating its first integrated campus in Egypt on Thursday, according to sources at the Korean embassy in Cairo. The sources added that the new campus is set to include a training academy, a store for displaying the latest artificial intelligence (AI) products, in addition to a number of administrative offices.
The store will also showcase LG’s largest revolutionary range of technologies for customers in Egypt and the Middle East, as well as the latest technological innovations which the company has created worldwide, particularly in OLED TVs, TwinWash washing machines, and an AC inverter for air conditioners, the sources declared.
LG’s new store will also feature the first Arabic TV supported by AI technology, the sources added, noting that LG Electronics is the first company in the world to provide Arabic voice services in televisions.
The South Korean ambassador to Egypt, Yeocheol Yoon, will attend the inauguration ceremony at the new campus in presence of LG’s President for the Middle East and Africa Region (MEA) James Lee, and the company’s CEO in Egypt, Don Kwak, the sources noted.
LG Electronics plans to invest an additional $15m in the local market, Kwak told Daily News Egypt in January 2019, noting that the company’s current $240m worth of investments will increase to about $255m to finance expansion plans.
“Egypt has major investment opportunities. Our exports’ value reached $200m in 2018 which represented 75% of the company’s production,” he elaborated, adding that his company seeks to increase its exports value through entering new markets in Africa–a plan that coincides with Egypt’s presidency of the African Union (AU) in 2019.