LG Electronics new North American HQ strokes debate
We all know that the Korean electronics giants Samsung and LG have left their Japanese competitors way behind in the U.S market if not buried them. With cutting edge technologies like the 4K and OLED they have slide up the highly competitive U.S. market over the years. So much so that today the North American market is of far greater value for them than their domestic market and a major contributor to their overall sales volume.
It is understandable then that a behemoth like LG with billions of dollars in revenue each year would want to build its North American Headquarters in a way that it fits its reputation as a big player in the TV and Home Entertainment segment. After searching through more than 200 locations across the length and breadth of the country the company finally settled for Englewood Cliffs, N.J.
It has brought land and obtained the necessary permissions and clearances from the city authorities to build a 143-foot-tall eight storied building which will be directly across from Fort Tryon Park in Inwood. But before work could even begin the protesters are up in arms because of the alleged loss of panoramic view of the Palisades from upper Manhattan that the glass and steel structure will cause.
The critics want LG to scrap the project or at the very least go back to the drawing board and come up with a new plan that satisfies them by keeping the view from the city unhindered. But the escalation of costs and delay that will be caused to the project makes it a no-go option for LG Electronics.
Interestingly enough while the howl of protest has emerged from the New York city, the New Jersey that has the jurisdiction on the land in question is supportive of the project. Englewood Cliffs Mayor Joseph Parisi Jr. is critical of his neighboring state residents for telling his city what to do and thinks that it is much ado about nothing.
While both sides are sticking to their guns for the present, an early and
mutually accepted agreement seems unlikely in the near future and LG risks costly and delaying law suits that could derail it’s dream of a new North American continent Head Quarters that is worthy of its dominant market position in the TV and Home Appliances segment in United States.