Korean electronics leading company conducts ‘test restart’ of Russian plant
(MENAFN) LG Electronics has confirmed it has conducted a test restart of its Russian plant, which has been inactive since 2022 due to sanctions related to the Ukraine conflict. The plant, located in Ruza near Moscow, was previously involved in manufacturing washing machines and refrigerators. The partial resumption of operations aims to prevent equipment deterioration, with only existing materials being used for now, according to an LG official.
LG's CEO, Cho Joo-wan, emphasized that the company remains cautious due to the ongoing conflict but could fully resume operations if sanctions are lifted. Other major South Korean companies, including Hyundai Motor Group and Samsung, are also reportedly considering returning to Russia as peace negotiations progress.
Russian President Vladimir Putin has highlighted that sanctions have unintentionally strengthened Russia’s economy and technology base. He stressed that the return of foreign firms will be carefully managed to ensure the protection of domestic businesses. Prime Minister Mikhail Mishustin noted that each company’s case will be evaluated individually by a special government commission.
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