​LG Electronics suspends shipments to Russia… Pay attention to the situation

LG Electronics has suspended shipments of all products to Russia. This is the result of global shipping companies suspending shipments and operations to Russia.

LG Electronics announced on the 20th that it has recently stopped all shipments to Russia and is closely monitoring the situation.

According to the shipping industry, global shipping companies such as Germany’s Hapag-Lloyd, Denmark’s Musk, and Switzerland’s MSC have suspended shipments to Russia due to their participation in sanctions against Russia and a decrease in cargo volume. Recently, HMM, the largest container shipping company in Korea, also temporarily suspended operations on the Far East route.

LG Electronics operates a home appliance and TV production plant at a factory in the Luza area outside Moscow. Products produced at this plant are sold to Russia and the neighboring Commonwealth of Independent States (CIS) regions.

Currently, LG Electronics’ Russian plant is operating, but it seems inevitable that a setback will be unavoidable if the stock of key parts is exhausted in the future. LG Electronics posted sales of 2.33.5 trillion won in Russia and CIS last year.

LG Electronics explained, “We are concerned about the health and safety of everyone,” and that “we are also committed to humanitarian relief activities.”

LG Electronics store in Moscow, Russia [사진=LG전자]

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