LG Electronics, Russia
LG Electronics Inc., in Korea, has announced that it will erect a plant to manufacture household appliances in Russia.
The electronics maker said it will begin construction between May and June in 2005 for completion in the first half of next year.
LG Electronics will manufacture television, refrigerators, washing machines and audio systems at the facility.
Interestingly, Korean manufacturers, especially appliance makers, have been enjoying considerable popularity in Russia.
In fact, in 2003, LG air conditioners, audio systems and vacuum cleaners were named Russian "national brands" of the year.
"It's difficult to come up with the exact demand for LG goods in Russia, but the Russian government and people recognize LG as a top brand," said Yang Seung-hyuk, a spokesman for LG Electronics.
LG said the Russian factory will play an essential role in the company's plans to establish a strong East European headquarters in the land of vodka and caviar.
LG Electronics says the wide distance between the plants and buyers in Russia has been pushing up logistics costs.
The electronics maker said it will begin construction between May and June in 2005 for completion in the first half of next year.
LG Electronics will manufacture television, refrigerators, washing machines and audio systems at the facility.
Interestingly, Korean manufacturers, especially appliance makers, have been enjoying considerable popularity in Russia.
In fact, in 2003, LG air conditioners, audio systems and vacuum cleaners were named Russian "national brands" of the year.
"It's difficult to come up with the exact demand for LG goods in Russia, but the Russian government and people recognize LG as a top brand," said Yang Seung-hyuk, a spokesman for LG Electronics.
LG said the Russian factory will play an essential role in the company's plans to establish a strong East European headquarters in the land of vodka and caviar.
LG Electronics says the wide distance between the plants and buyers in Russia has been pushing up logistics costs.
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