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(Seoul=Yonhap Infomax) Hak Seong Kim – LG Electronics Co., Ltd., which is expanding its business in the business-to-business (B2B) and business-to-government (B2G) sectors, will participate in the construction of a smart city in Dubai.
On the 19th, LG Electronics announced that it had signed a "strategic partnership for smart city construction" with Expo City Dubai, an agency under the United Arab Emirates (UAE) government, in Dubai. The announcement was made on the 23rd.
The signing ceremony was attended by LG Electronics CEO Cho Joo Wan and Ahmed Al Khatib, Head of Development and Delivery at Expo City Dubai.
Expo City Dubai is building a 3.5 square kilometer smart city on the site of Expo 2020 Dubai, which will house approximately 35,000 residents. This partnership is an extension of the cooperation discussed at the Korea-UAE Business Roundtable.
LG Electronics will supply advanced heating, ventilation, and air conditioning (HVAC) solutions and AI home hub-based smart home solutions to the smart city.
Previously, LG Electronics provided high-brightness LED signage for Expo 2020 Dubai and signed a contract to supply built-in home appliances to 3,000 households within the smart city being developed by Expo City Dubai.
CEO Cho Joo Wan stated, "We will accelerate efforts to secure new business opportunities in the B2G sector in the Middle East, where there are many government-led projects."
Recently, LG Electronics has identified the high-potential "Global South" as a key pillar of its growth strategy and is actively targeting the region. The company has achieved meaningful results, particularly in the Middle East, including the UAE and Saudi Arabia.
In September, LG Electronics signed a memorandum of understanding to supply cooling solutions to the largest "net-zero AI data center" in the Middle East, which is being built in Oxagon, NEOM City, Saudi Arabia.
LG Electronics established a subsidiary in the UAE in 1996 and operates a regional headquarters overseeing business in 75 locations across the Middle East and Africa.
The company aims to increase the proportion of B2B sales from 35% in the third quarter of this year to 45% by 2030.
hskim@yna.co.kr
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