The Korean subsidiary expressed confidence in its selection

The American region currently commands over 40 percent share of worldwide consumption of LEDs in medical/biophotonics (devices/equipment); however the region’s market share is set to decrease during the forecast period as the other regions increase at a faster pace.  The Europe, Middle East and Africa (EMEA) region is forecast to increase at 27 percent per year.  The Asia Pacific region (APAC) is forecast to increase in value by a multiple of seven-times (7x) during the 2011 to 2018 timeframe, with an annual increase of 32 percent.

Philips Electronics Korea, a subsidiary under Royal Philips Electronics, has announced to appoint Kim Il-gon as the new chief of its lighting branch.  He is set to take office on Sept. 1.

The Korean subsidiary expressed confidence in its selection, and said that Kim’s proven track record in the LED industry will help contribute to the overall growth of the company, especially towards the development of new lighting technologies.

According to company officials, the sector is expected to be a growth engine for the company for at least the next two years. Meanwhile, Royal Philips Electronics posted global sales of more than 11.37 trillion won ($9.91 billion) in 2011.