- cross-posted to:
- worldnews@lemmy.ml
- europe@feddit.org
- cross-posted to:
- worldnews@lemmy.ml
- europe@feddit.org
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major Korean companies are accelerating their feasibility studies on resuming business in Russia. The move comes as Russia is seen as a critical market for diversifying business interests, especially amid growing tariff pressures from the United States.
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Among major Korean firms, LG Electronics is making a swift move. According to industry officials, LG Electronics partially resumed operations at its electronic appliance plant in Moscow of late.
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HD Hyundai Electric, which has been maintaining its Russian business through the war, will participate through a local distributor in Electro 2025, Russia’s largest electrical exhibition, scheduled for April 1 to 4, in an apparent move to exploit the high demand for restoring power infrastructure damaged by the war.
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Hyundai Motor Group is also busy studying the feasibility of the post-war Russian market.
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Apart from Hyundai Motor, its affiliates Kia, Hyundai Mobis, and Hyundai Steel have recently posted job openings in Russia, signaling greater chances of the group resuming business in Russia.
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Samsung Electronics is also reviewing the feasibility of resuming its Russian business. In February, a Russian newspaper reported that Samsung’s marketing expenses from January to February this year increased 30 percent from the same period a year earlier.
It’s an honor.