South Korea's Samsung Electronics said on Wednesday that India would be the headquarters for its Southwest Asia operations, covering all markets in South Asia, except Pakistan due to the strong growth recorded by the company in this region.
It also announced the appointment of Kwang-Soo Kim as the first president and chief executive officer of Samsung Southwest Asia.
Kim would also function as the managing director of Samsung India Electronics.
He was previously working as the president and CEO of Samsung Southeast Asia based in Singapore, which also covered the Indian market, a company release said.
"India has been identified as one of our six strategic markets and the Southwest Asia region is poised to play an increasingly bigger role in Samsung's global business in the near future. That is the reason for India being made the regional headquarters for Samsung's Southwest Asia operations," Kim said.
He said Samsung Southwest Asia would aim to triple its sales turnover by 2006 through higher growth in consumer electronics, home appliances, IT and telecom products.
