LG Breaks Ground for New North American Headquarters

LG Electronics held a groundbreaking ceremony for its new North American headquarters in New Jersey on Tuesday. It will be built 3.8 km north of the current location along the Hudson River and be finished by 2019.

The new headquarters will be about six times larger than the current one and cost LG some US$300 million (US$1=W1,146). Solar panels will be installed on the roof and 1,500 trees will be planted around the building.

The new building will also house other LG subsidiaries such as LG Chem and LG Household and Health Care.

"There will be about 1,000 people working there, and we hope communication amongst LG subsidiaries in North America will be streamlined," an LG staffer said.

North America is a very important market for LG Electronics, with it accounting for 30 percent of the company's sales of W55.37 trillion last year.

The electronics maker is focusing on expanding its share of the U.S. high-end home appliance market.