LG Electronics said it will build a home appliance plant in Russia to meet growing demands in the Russian market.
It is the first time for a South Korean firm to establish an assembly line for home appliances in Russia.
The construction of the plant, which will be located about 70 km west of Moscow, will start in May or June of 2005 for completion in the first half of 2006, the company said.
LG Electronics plans to produce televisions, refrigerators, washing machines, and audio equipment at the plant.
"The company also expects it will use the plant as a production hub for the European region in the mid- and long-term," a company official said.
At present, LG's share of the Russian home appliance market is about 30 percent. (The Korea Times)
to Daily News