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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

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