Watch Video: LG Electronics India MD Hong Ju Jeon Leaves Audience Impressed With Fluent Hindi Speech After Company’s Blockbuster D-Street Debut, Here’s What He Said

In the consumer durables scenario, LG Electronics India has been one of the front-runners in the market. It had a spectacular debut on the stock exchanges, winning itself a huge public relations coup. The IPO shares of the company saw a debut at a 50% premium to the issue price-a landmark occasion that made instant headlines. But what truly captivated the nation and went viral over social media was an unexpected address by the company’s South Korean Managing Director, Hong Ju Jeon.

At the bell ringing ceremony on Dalal Street, Mr Jeon addressed the audience entirely in fluent Hindi preferring Hindi outright to English or his native Korean which stirred not just the imaginations of investors and market veterans but also resonated well with common man to showcase a deep-rooted respect for the Indian culture and commitment towards Indian market.

Strategic Cultural Connect

Aside from being a polite gesture, speaking in Hindi shows that Jeon has invested multiple years of effort into getting to know the Indian consumer and to connect with them at a very basic level.

In front of a foreign multinational, particularly in high-value segments such as washing machines and refrigerators, such acts of cultural assimilation translate into enhanced and desired brand loyalty and an emotionally charged bond with the nation.

D-Street’s Electrifying Debut

The viral speech coincided with an IPO that was historic in its financial metrics. The LG Electronics IPO in India, one of the largest in this financial year, received subscriptions oversubscribed by more than 54 times to the issue size, thereby reflecting massive investor confidence. Offers opened at around $1,710 on the NSE against an issue price of $1,140, which makes this one of the most significant listings in the mega-IPO category for several years.

After listing, the market capitalization of the Indian subsidiary briefly exceeded that of the South Korean parent company, giving phenomenal achievement because it reflects the India’s strategically critical international position for LG.

Analysts cited LG India’s multifarious dominance in the market, attractive valuations, and promising future growth considering the expanding consumer base in the middle class of India. Such factors had attributed overwhelming investor demand.

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