Weekend-5-16
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Interview | Edward Kim<br />
LG plans big for<br />
Bangladeshi market<br />
A conversation with Edward Kim, MD of LG Bangladesh<br />
Mahmood Sadi<br />
A small session with Edward Kim, the Managing Director of LG Bangladesh would give you a hint<br />
about why he is given the charge of representing a brand that has the tagline – ‘Life is Good’.<br />
This convivial Korean will patiently answer all of your questions, no matter how many you have<br />
asked, and he does that with a smile.<br />
<strong>Weekend</strong> Tribune recently went to his office and talked about LG’s operations in Bangladesh.<br />
Before you took charge of the operations of<br />
LG in Bangladesh, where else did you work?<br />
Bangladesh is my third overseas assignment<br />
from LG. Before, I worked in LG’s Thailand and<br />
Singapore operation.<br />
What is your impression about the<br />
electronic market of Bangladesh?<br />
The first impression that I had while working<br />
here is that the electronic applications market<br />
has a lot of potential. Every morning when I<br />
take a look in the newspaper, I can see many<br />
initiatives taken here in Bangladesh and<br />
this opens up and increases people’s need<br />
for electronic appliances. I believe that the<br />
Bangladeshi market can achieve recognition<br />
like that of the Indian market within a few<br />
years.<br />
There are a lot of electronic brands today<br />
in Bangladesh, so why will people be<br />
interested to buy your product?<br />
We have already become one of the most<br />
trustworthy brands across the world. In<br />
Bangladesh, it is no different. When people<br />
see the brand name of LG, they feel a sense<br />
of trust here. This is because we provide a<br />
warranty of 10 years for our products.<br />
We have also customised some of our<br />
products for the Bangladeshi market. One<br />
such product is the mosquito-repelling<br />
air conditioning system. In Bangladesh,<br />
mosquitoes are a big problem and our airconditioners<br />
will make homes mosquito-free.<br />
The air-conditioner can generate inaudible<br />
ultrasonic waves at a specific frequency of over<br />
30kHz that repels mosquitoes.<br />
Who do you consider your fiercest<br />
competitor in the market?<br />
I will give you the answer in a different manner.<br />
Basically there are two types of competitors<br />
- the collaborating brands and the local<br />
manufacturers. Among all the collaborating<br />
brands, I consider LG to be number one in the<br />
field of electronics here in Bangladesh.<br />
Among the local brands, you have Walton,<br />
Singer and some other newcomers. Although<br />
globally we are in the number one position,<br />
yet we have to compete against local brands<br />
in the local market. In Bangladesh, the local<br />
brands are mostly targeting low and medium<br />
Our prices are competitive<br />
and I think a large number of<br />
customers who want quality,<br />
long lasting products are<br />
opting to buying our products<br />
segments. However they are increasingly<br />
targeting the high segments as well.<br />
Some might think that LG is a global brand<br />
and therefore they are selling the most<br />
expensive products. Yes, we target the high<br />
segments but that does not mean we simply<br />
focus on premium customers. Our prices<br />
are competitive and I think a large number<br />
of customers who want quality, long lasting<br />
products are opting to buying our products.<br />
When I think about LG, I think about its<br />
refrigerators, TVs and air conditioners.<br />
But you also have other products like<br />
smartphones and laptops which are not<br />
that popular in our country. So are you<br />
taking any initiatives to make these<br />
products popular?<br />
Yes, we have other products like laptops, water<br />
purifiers, air cleaners, etc, and their demands<br />
Photo: Arifur Rahman Riad<br />
are increasing in an emerging market like<br />
Bangladesh. We plan to do more promotions<br />
about those product lines. About our<br />
smartphones, I can say that entering into the<br />
smartphone market will not be easy because<br />
of the huge competition prevailing there.<br />
But this year onwards, we have big plans for<br />
increasing our smartphone market share.<br />
Many Chinese electronic products are sold<br />
here at cheap prices and people do have<br />
the idea that electronic products won’t last<br />
long or new models will arrive so there is<br />
no point of buying a high-end product from<br />
LG or other brands instead of the cheaper<br />
Chinese products. How do you deal with<br />
that sort of mindset?<br />
People might like buying cheap products but<br />
the question is whether they are getting any<br />
long term satisfaction by using those products.<br />
I don’t think so. For example, a laptop company<br />
told me to use their product which weighs<br />
around 99gm. It was very expensive but since I<br />
am visiting abroad quite a lot, I took it despite<br />
the high price and I am completely happy<br />
about it. So as long as I can satisfy customers<br />
and serve their needs, I think I will not lose my<br />
segment of customers.<br />
Also as I told you earlier, the customers who<br />
want quality products, will know the difference<br />
between cheap Chinese products and those<br />
from LG.<br />
LG has a partnership with JAAGO<br />
foundation. Why? What sort of activities it<br />
is doing with JAAGO?<br />
LG is based on the idea “Think globally and<br />
act locally”. To facilitate ICT education for<br />
underprivileged children, LG Electronics<br />
Bangladesh and JAAGO Foundation have<br />
jointly established LG IT Academy, where<br />
underprivileged children are given quality<br />
education through the usage of technology<br />
that they would otherwise have no access to.•<br />
WEEKEND TRIBUNE | FRIDAY, AUGUST 11, 2017 15