Lennon
Member
South Korea's kyung-sil said LG Electronics will move its TV business to Indonesia, yonhap news agency reported.
Three of the four TV production lines will move to Indonesia by the end of June after confirmation from LG employees and partner representatives, the statement said.
After the relocation, the guiwei plant will produce only large touch panels, and 380 of the 480 regular workers in the TV sector will move to pyeongtaek, gyeonggi province, or retire. For now, LG Electronics says nothing has been decided.
An official with the turtle tail chamber of commerce said that since the end of last year, the overseas relocation of LG Electronics has become more common. If LG's TV unit moves overseas, some of the thousands of subcontractors will have to move to Indonesia or pyeongtaek, with negative implications for the local economy.
Last year, LG said it would stop making smartphones in South Korea and move production to Vietnam, where the factory accounts for 10% to 20% of the company's smartphone production, mostly for high-end products. (proofread/Jurnan)
Three of the four TV production lines will move to Indonesia by the end of June after confirmation from LG employees and partner representatives, the statement said.
After the relocation, the guiwei plant will produce only large touch panels, and 380 of the 480 regular workers in the TV sector will move to pyeongtaek, gyeonggi province, or retire. For now, LG Electronics says nothing has been decided.
An official with the turtle tail chamber of commerce said that since the end of last year, the overseas relocation of LG Electronics has become more common. If LG's TV unit moves overseas, some of the thousands of subcontractors will have to move to Indonesia or pyeongtaek, with negative implications for the local economy.
Last year, LG said it would stop making smartphones in South Korea and move production to Vietnam, where the factory accounts for 10% to 20% of the company's smartphone production, mostly for high-end products. (proofread/Jurnan)
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