LG Targets Doubling Global South Revenue by 2030

LG Electronics has announced its intention to double combined revenue from India, Brazil, and Saudi Arabia by 2030. The South Korean technology firm views these three nations as central to its next phase of global expansion.

Company CEO Lyu Jae-cheol addressed journalists in Seoul, identifying the three geographies as the absolute forefront of the corporation's long-term strategy.

Revenue Growth in the Global South

In 2025, LG's combined revenue from these markets reached KRW 6.2 trillion. This represents a growth rate exceeding 20% compared to 2023, which is more than double the company's overall global growth rate during the same period. The three markets currently account for approximately 7% of LG's consolidated global revenue of KRW 89.2 trillion, a share the company intends to increase.

Aeron Kim, IR Communication Team Leader at LG Electronics, stated that the focus on the Global South reflects a strategic response to economic challenges in more mature markets.

To overcome headwinds created by the prevailing macroeconomic conditions in the company's advanced markets, the company will focus on creating new demand and growth regions like India and Brazil.

Manufacturing and Export Development in India

LG attributes its confidence in India to strong macroeconomic momentum, high brand preference, and low market penetration in key categories such as refrigerators, washing machines, and air conditioners.

The company operates two manufacturing facilities in India, located in Greater Noida and Pune, with a combined annual capacity of 14.51 crore units. A third facility is under construction in Sri City, with operations expected to commence by the end of 2026.

LG plans to double its production capacity in India, with the additional capacity primarily designated for exports. Currently, exports constitute 6-7% of LG Electronics India's revenue, serving markets across Asia and Africa.

The company employs a dual-market export model. Premium products, including side-by-side refrigerators and front-loading washing machines, are directed toward developed markets. Meanwhile, the India-designed Essential Series is supplied to other emerging economies.

Kim noted that LG is also considering exports to the United States despite existing tariff barriers.

We think that once LG Electronics India reaches that level of competitiveness, we can overcome the hurdle.

The firm is additionally assessing whether recent free trade agreements between India, the United Kingdom, and the European Union can provide supply chain advantages.

Product Upgrades and AI Integration

LG is advancing its domestic product mix in India toward the premium segment. While the company currently manufactures mostly mid-and-low-end products in the country, it intends to expand high-end categories, including four-door and French door refrigerators.

Furthermore, LG has incorporated its Indian manufacturing operations into its global artificial intelligence roadmap. The company plans a broader introduction of AI-enabled appliances, such as washing machines, refrigerators, air conditioners, and cooking systems, into the market.

LG also aims to enhance its local research and development infrastructure and increase the recruitment of senior talent in India.