The company has approached various agencies and a pitch is set to take place during the next two months. The incumbent creative agency, Mustoes, which won the business in 2001, has not been invited to repitch.
The review also encompasses LG's media planning and buying services; its incumbent media agency, John Ayling & Associates, will be involved in the pitch.
Last year, LG spent £1.3 million on advertising, according to Nielsen Media Research figures. The company has plans to increase its spend this year as part of a new strategy that will see more aggressive marketing of its products and the brand.
LG, which makes plasma TVs and high-tech washing machines, has recently made inroads into the phone handset market, launching its first 3G phone in the UK earlier this month. The focus of its advertising in the next year will be on its phone products.
Nigel Couzens, the general marketing manager at LG Electronics, said: "Our strategy is to get LG on people's shopping lists and to build on the idea of the brand's quality.
"We are strong globally - our handsets are the number-one in China and the US and number five in the world. We have high ambitions to become a leading player in the UK market."
LG is involved in the sponsorship of various supercar racing and cricket sporting events. A campaign promoting its handsets, created by Mustoes, is due to break later this month.