LG Electronics said Wednesday it had broken ground for new corporate buildings in New Jersey, which will serve as a foothold for LG to focus on the North American premium home appliance market.
LG will invest $300 million to construct two office buildings on a plot of about 110,000 square meters by 2019.
The gross area of the new buildings, 63,000 square meters, is about six times larger than LG’s current office building there and will be able to accommodate more than 1,000 employees.
The South Korean electronics maker has been in talks with the New Jersey state government, Rockefeller Foundation and local environmental organizations since 2009 on the construction plan. It was given approval last June.
LG is planning to construct eco-friendly buildings that can protect the surrounding forest and marsh land by planting more than 1,500 trees, the company said. Photovoltaic panels will be installed on the rooftops.
After completion, the company plans to apply for the Leadership in Energy and Environmental Design, a certification program offered by the US Green Building Council.
“Creation of the new buildings would generate about $26 million in economic effects and add about 2,000 new jobs,” the company said.
By expanding its base in the US, LG aims to better focus on the premium home appliance market in the North American region.
The region accounted for around 30 percent of LG’s global sales as of the third quarter of last year, making it the biggest overseas market.
From left: Rep. Gordon M. Johnson, Englewood Cliffs Mayor Mario M. Kranjac, Bergen County Executive James Tedesco, LG Electronics North America CEO William Cho and other officials pose after a groundbreaking ceremony in Englewood Cliffs, New Jersey, Tuesday. (LG Electronics)
By Song Su-hyun (email@example.com)