Korean tech giant LG Electronics (LG) has recently completed the relocation of its European headquarters from London to near Frankfurt, Germany. The new office in in Eschborn, which covers 9,500 m², will have a staff of 300 employees, managing operations across the Western European region. The London office will remain a local LG branch for the UK and Ireland business.
The motive behind the move is to support LG's initiative to expand its automotive components business as well as shift focus from core consumer electronics especially in home products. As Wayne Park, head of LG’s European operations, stated: “We believe that Germany offers the best opportunities for LG going forward. The consumer electronics market is unpredictable and always changing but the commercial, energy and automotive components sectors continue to grow and expand. Germany is strong in all the areas in which we operate today and will be investing significantly more of our resources in the years ahead.”
Furthermore, Germany’s central location offered the best transportation links and infrastructure in the European region, allowing LG’s European personnel to be much closer to the countries they serve. In addition, the close proximity of Eschborn to Frankfurt provides easy opportunities for conferences and faster services for both its employees and customers. The Frankfurt Motor Show is held in Germany every year, and it also is home to luxury sedan brands BMW, Audi, and Volkswagen. LG Electronics and its sister firms, LG Innotek, LG Display and LG Chem, have been supplying auto components such as displays and camera modules to these carmakers. LG Electronics also recently participated in a joint project by Mercedes-Benz and Google to develop autonomous cars.