LG Electronics will be adjusting its overseas organization on a large scale. In its Korean headquarters the number of people managing the overseas offices will be increased from 10 to 40.

 

Furthermore, starting in May, 2005, LG will be examining its 13 overseas offices in Europe, and after that its other 78 overseas offices and 30 subsidiaries will be put under the microscope.

 

LG Electronics stated that overseas offices, which for several years have not shown to be profitable, will be downgraded to daughter companies. Subsidiaries whose yearly revenue exceeds US$100 million or whose yearly growth reaches 20% will be upgraded to LG's overseas offices.