LG Electronics India kicked off its stock market journey with a bang, with shares soaring over 50% above their issue price on the National Stock Exchange (NSE). However, the true highlight for many across India during the IPO debut ceremony was the speech delivered by LG India’s Managing Director, Hong Ju Jeon. Defying expectations, the South Korean MD chose to deliver his entire address in Hindi, a gesture that has garnered significant praise and attention on social media.
Jeon’s fluency and commitment to speaking in Hindi, rather than English or Korean, struck a chord with viewers. Social media buzzed with comments appreciating this ‘going local’ initiative. One user on X remarked, “LG MD giving his IPO address in Hindi… rare for a South Korean company chief … signs of going local completely.” Another user found the gesture “very wholesome,” noting that he could have opted for Korean or English but chose Hindi instead.
The positive reception extended to acknowledging the effort behind mastering the language. As one commenter pointed out, “He didn’t need to. Several Indian CEOs can’t speak Hindi fluently. And IPO to ab aaya hain, Hindi he must’ve been learning for years to reach at this level. Credit where it’s due.”
The LG Electronics India IPO itself was a tremendous success, subscribed 54.02 times by investors. Following its strong listing, the company’s market capitalization surged to an impressive ₹1,16,640.25 crore. Hong Ju Jeon, who took charge as the Managing Director of LG Electronics India in January 2023, has previously held significant leadership roles in the Gulf region and other Middle Eastern markets, bringing a wealth of international experience to his role in India. His choice to address the IPO in Hindi underscores LG’s commitment to integrating with the Indian market and connecting with its consumers on a deeper level.