SEOUL--A number of PR agencies are contending for LG Electronics' multimillion dollar global PR business, one year after the company extended its contract with WPP's LG-One unit.
LG-One, which is comprised of Ogilvy PR and Hill + Knowlton teams, has overseen the business since 2009, growing the mandate over the past four years to include the majority of LG's key geographic markets.
One year ago, LG reviewed the business and re-appointed LG-One, which is once again defending its hold on the account.
LG Electronics global communications director Ken Hong confirmed the review to the Holmes Report, noting that it covered corporate and, in some cases, consumer PR for LG's various business units, including mobile communications, home entertainment, air conditioning and home appliances.
Hong also said that the pitch, which takes place in Seoul next week, is the result of an annual contract review led by LG Electronics' procurement department. In addition to global PR, it covers LG's major markets, which include the US, Russia, China and India.
While LG has risen to third position in the global smartphone market behind Samsung and Apple, its most recent quarterly earnings were hit by falling television sales. The company returned to profit last year after full-year losses in 2011.