LG to Begin Work On European Plant In 2006 Jul 11, 2005

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LG Electronics Inc., South Korea's second-largest consumer electronics maker, will begin construction of a new home appliance factory in Eastern Europe during the first half of next year, a company spokesman said.

"We plan to break ground on the new plant in eastern Europe in the first half of 2006," said spokesman Park Seung-koo.

Mr. Park said the company will soon choose the site for the plant and that the amount of investment has yet to be determined.

LG Electronics officials have said the firm is considering Poland, the Czech Republic, and Hungary as possible candidates.

In April, LG Electronics, which produces refrigerators, washing machines, air-conditioners, and other appliances, announced the plan for the facility in Eastern Europe.

LG Electronics aims to become the world's top appliance maker by 2007 by posting U.S. $14 billion in global sales.

LG Electronics had previously anticipated its home appliance unit to post $10 billion in sales this year. (Yonhap)

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