LG is a South Korean electronics company and they are Formula One latest main sponsor.

The five year deal is reported to be in tens of millions of dollar. The exact figure wasn’t disclosed.

With a global sales of $44 billion last year, LG wants more ‘visibility’ of its brand on the world stage, despite the global economic crunch.

And with South Korea slated to host their own F1 in 2010, Korea and Asia looks to have an increasing world presence.