Samsung, LG consider moving electronics plants to US from Mexico

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The story "Samsung, LG consider moving electronics plants to US from Mexico" was covered 11 hours ago by Korea Economic Daily, a news publisher based in South Korea.

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Samsung, LG consider moving electronics plants to US from Mexico - Korea Economic Daily

Quick Summary:

To preemptively address the impending US tariffs, Samsung transferred part of its refrigerator production at its plant in Mexico to the Gwangju plant in Korea late last year.“If a 25% tariff is imposed on Mexican products, it would be much cheaper to produce premium products in Korea and export them,” said an industry executive.

LG has secured land near its Clarksville plant – large enough to build four additional factories.“Establishing a new factory in the US or moving production facilities to the US not only addresses tariff issues but also enhances agility by allowing companies to swiftly respond to consumer needs,” said an electronics industry official.

LG ELECTRONICS TO EXPAND TENNESSEE OPERATIONSLG Electronics, a home appliances giant, is also considering moving production of refrigerators and TVs from Mexico to its plant in Clarksville, Tennessee, which manufactures washing machines and dryers.