At the same time, it has handed its media planning and buying account to Media Planning Group.
The creative account, which covers 11 Latin American markets including Chile, Colombia, Ecuador and Venezuela, will be run out of Quimeca Euro RSCG in Panama City.
Arturo Montenegro, the Euro RSCG account director, will handle the day-to-day running of the account, working closely with LG's regional marketing director, Ricardo Jung.
Ricardo Monteiro, the chief executive of Euro RSCG's Latin America operation, said: "We are honoured to have LG as a client - it is a reflection of what we do and what we deliver. We look forward to a successful relationship."