Home appliance company LG Electronics plans to move production from Russia to Uzbekistan or Kazakhstan, Kommersant reported on October 21, citing sources.
“The leadership of the South Korean LG is discussing the possibility of closing a plant in Russia and transferring production to Uzbekistan at Artel facilities,” the report says.
It is noted that part of the top management of Russian LG has already been relocated to Tashkent. “The leadership of the South Korean LG is discussing the possibility of closing a plant in Russia and transferring production to Uzbekistan at Artel facilities,” the report says.
It is noted that part of the top management of Russian LG has already been relocated to Tashkent.
Experts note that transfer of production to Uzbekistan is more profitable because of cheap labor, but there are more solvent consumers in Kazakhstan.
In March, LG Electronics reportedly announced the suspension of all deliveries to the Russian Federation.
Earlier, the Deputy Head of the Ministry of Industry and Trade expressed the hope that IKEA would not completely leave the Russian market.
