South Korean company LG Electronics conducted a trial restart of a plant in Russia, which was suspended after the start of the conflict in Ukraine. The plant, located in Moscow, previously produced washing machines and refrigerators.
The restart was necessary to prevent corrosion of equipment and wear of idle capacities. The company noted that production will continue using existing materials.
LG CEO Cho Joo-wan emphasized that the company remains cautious due to the ongoing conflict and is closely monitoring the situation, awaiting a possible lifting of sanctions from Russia. According to him, the issue of the further operation of the Russian branch cannot be resolved only by the company, since intergovernmental agreements and decisions of the South Korean government are also important.
The company is not considering selling the branch, unlike other manufacturers such as Hyundai, and will be ready to resume full operation when the situation changes.
South Korean companies Hyundai Motor Group, Samsung Electronics, and LG Electronics are considering returning to the Russian market amid a possible easing of sanctions against Russia, according to The Korea Times.
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