JEDDAH, 22 June 2003 — LG Electronics Vice Chairman and Chief Executive Officer Ssang Su Kim will be the guest of honor at the Korean giant’s salutations night at Lailaty Hall today.

Kim, who was named one of the “Stars of Asia” by Business Week in its June 9 issue, will address distributors, dealers and other dignitaries on the occasion of the LG event. It is primarily aimed to celebrate the successes and achievements of the Korean manufacturer’s distributors and dealers in the Kingdom.

Receiving special commendation for LG’s Kingdomwide business growth will be Mohamed Yousef Naghi, chairman, United Yousef M.A. Naghi Co. — Electronics Division, distributor of home appliances, electronics and GSM; Hassan G.I. Shaker, chairman and CEO, H.G. Ibrahim Shaker Company, exclusive distributor of LG air-conditioners; and Jamal Al-Jassim, president, J. Al-Jassim Electronics.

Kim attended a reception hosted by Hussein Shaker, president, H.G. Ibrahim Shaker Company on his arrival in Riyadh yesterday.

“Being named a ‘Star of Asia’ puts Kim among 25 Asian leaders who, Business Week believes, are at the forefront of change,” said LG Saudi Arabia’s General Manager H.K. Seo. “That’s quite an accolade for Kim, who began his career with LG as an engineer over 30 years ago, and it’s equally an honor for LG.”

LG Saudi Arabia’s Deputy General Manager S.M. Arshad said plaques of appreciation would be awarded to distributors and dealers. A documentary on the achievements of LG in the Kingdom, and welcome and acceptance speeches by Kim and Seo will mark the event.

“LG has been very active in the community by organizing annual sports tournaments like table tennis and volleyball, cooking contests for ladies and performances by visiting Korean cultural troupes,” Arshad said, adding that the Korean community had its own share of contribution toward the Kingdom’s massive developments over the past decades.

Kim has been decorated with numerous awards including the “No. 1 New Knowledge Award in the Electronics Industry” from the Korean Ministry of Commerce & Industry and the “Best New Millennium CEO” award for management knowledge given by the Korea Management Association in October 2000.

Kim’s basic philosophy of “tear-down and redesign” has been extremely cost-effective and has revitalized the appliance industry. “The word ‘impossible’ does not exist in his dictionary,” Arshad said, adding that Kim was also known as a tough man because of his role through the Asian economic crisis where he turned the tables by taking advantage of Korean won devaluation and making LG brand products extremely qualitative and competitive.

Kim’s present focus is to strengthen his company’s presence in the United States and Europe, particularly in the high-end segment such as Internet-capable refrigerators and ultra-quiet washing machines.

Last year, LG started selling air-conditioners and washing machines under its own name in the United States where it used to build appliances for Whirlpool and GE, he said.