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Samsung & LG Ceo's Kissing Up For China's President Xi’s Attention
By Min-Jeong LeeLong cross-town rivals, South Korean technology firms Samsung 005930.SE +0.23% and LG were battling on a new front Friday: winning the attention of China President Xi Jinping with their latest technologies during his visit to Seoul.
In a special tour, Xi was escorted by none other than Samsung Electronics Vice Chairman Jay Y. Lee, who is the heir-apparent of the Samsung conglomerate as well as and Koo Bon-moo, the chairman of LG Group.Both Lee and Koo rarely make public appearances.
China with its more than one billion population is a key market for both Samsung and LG and a place where they face fierce competition from low-cost local brands.
Within hours of one another, the two conglomerates also released statements touting how Xi was given a chance to see a wide range of high-tech products made by the companies –everything from flexible displays, bendable rechargeable batteries to wearable devices and curved screen televisions.
Samsung tried to make an impression by displaying the array of its latest products under the theme that corresponds to Xi’s widely-known “China dream” campaign. The campaign as represented by Xi is a vision that covers a number of things for a better China including an economically and militarily strong nation.
The products were presented in a way that depicts Samsung’s version of the ‘Chinese dream’ where “Samsung seeks growth, together with China by leveraging its core capabilities,” Samsung Group said in its statement.
LG took the effort a step further by playing a welcome video clip for Xi on its 105-inch curved screen TV that describes the company’s own version of how it envisions contributing to the ‘Chinese dream.’
According to an LG statement, Xi was “impressed” by the products and expressed a keen interest in LG’s TV noting the screen is “extremely thin.”
From Samsung, all of the electronics company’s three co-chiefs were present for Xi’s tour including J.K. Shin, the mobile chief. From LG, several top executives—including CEOs from LG Electronics 066570.SE +1.83%, LG Chem and LG Display–were present to promote their technologies alongside Koo.
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