Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
Dollar Holds Firm Ahead of Global Central Bank Decisions as Yen, Sterling and Euro React 
Citi Appoints Ryan Ellis as Head of Markets Sales for Australia and New Zealand 
Nvidia Weighs Expanding H200 AI Chip Production as China Demand Surges 
Moore Threads Stock Slides After Risk Warning Despite 600% Surge Since IPO 
7-Eleven CEO Joe DePinto to Retire After Two Decades at the Helm 
U.S. Lawmakers Urge Pentagon to Blacklist More Chinese Tech Firms Over Military Ties 
Micron Technology Forecasts Surge in Revenue and Earnings on AI-Driven Memory Demand 
Oil Prices Climb on Venezuela Blockade, Russia Sanctions Fears, and Supply Risks 
Oil Prices Steady in Asia but Headed for Weekly Loss on Supply Glut Concerns 
Oracle Stock Slides After Blue Owl Exit Report, Company Says Michigan Data Center Talks Remain on Track 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
Trello Outage Disrupts Users as Access Issues Hit Atlassian’s Work Management Platform 
TikTok U.S. Deal Advances as ByteDance Signs Binding Joint Venture Agreement 
MetaX IPO Soars as China’s AI Chip Stocks Ignite Investor Frenzy 
EU Approves €90 Billion Ukraine Aid as Frozen Russian Asset Plan Stalls 
Apple Opens iPhone to Alternative App Stores in Japan Under New Competition Law 
LG Electronics has unveiled its first overseas research and development (R&D) lab in Indonesia, marking a pivotal step in the company's strategy to bolster its footprint in the Southeast Asian TV market.
Park Hyoung-sei, President of LG Electronics' home entertainment division, attended the grand opening ceremony, along with government officials from both nations, including South Korean Ambassador to Indonesia, Lee Sang-deok.
The R&D lab, spanning 40,000 square feet, is located in Cibitung, West Java, near LG's existing TV manufacturing facilities. This strategic placement allows for efficient production and is only 40 kilometers from LG's sales office in Jakarta, the capital city.
LG aims to leverage this regional R&D lab to effectively manage its business operations, from product development to delivery, catering to the needs of end-users. The company has dedicated efforts to product development in Indonesia by expanding its manufacturing capabilities in Cibitung.
The list of products manufactured at the Cibitung plant has diversified over the years, prompting LG to create a new post solely focused on product development in the region. Furthermore, LG has plans to increase its local staff to around 500 employees by 2025, enhancing research competitiveness. The company is also implementing training programs for TV R&D developers and actively hiring experts to support a wide range of research projects.
In addition to strengthening its operations, LG will foster collaborations with local universities to nurture talent and unearth promising professionals. This approach will ensure a constant inflow of fresh ideas and perspectives.
LG Electronics manufactures most of its TVs, excluding signature lines like StandbyME, in Indonesia for sale across various Asian countries.
As LG continues optimizing its business operations, it remains committed to delivering high-quality products and services at competitive prices. LG Electronics' President and Chief Executive, Cho Joo-wan, reiterated this commitment during his visit to Jakarta in April of this year.
While the exact number of hires at the R&D lab remains undisclosed, LG's dedication to nurturing talent and collaborating with local universities underscores its commitment to long-term growth and innovation.
