LG projects $540m exports

JAKARTA (JP): South Korean electronics maker LG Electronics said Monday it expected its Indonesian units LG Electronics Indonesia and LG Electronics Display Devices Indonesia to export US$540 million worth of television, television cassette recorders (TVCR), and refrigerators this year.

President of LG Electronics Indonesia In Ki Kim said the exports of both companies were expected to soar to $680 million in 2001.

Kim made the statement during the launching of its TVCR maiden shipment in Tangerang, West Java. TVCR is a combination of television and video cassette recorder.

He said in a statement LG Electronics Indonesia had built its production facilities on 142,365 square meters of land in Tangerang.

The company has put an investment of $31.2 million since it started operation in 1990 in the country and planned to increase the investment to a total of $40 million by 2003, Kim said.

He said LG Electronics Indonesia, which has invested $5.5 million for its TVCR operation, targeted to export 335,000 units of TVCR worth $60 million this year to the United States, Korea, Japan, Middle East, and Europe. (jsk)