Local Media: "LG Establishes Middle East Headquarters in Riyadh, Saudi Arabia"
[Asia Economy Reporter Jeong Dong-hoon] LG plans to establish its Middle East regional headquarters in Riyadh, the capital of Saudi Arabia, according to local media reports on the 18th (local time).
Local Asharq TV reported this after conducting an exclusive interview with an LG official. This plan by LG is said to have emerged during President Moon Jae-in's tour of Middle Eastern countries.
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The Saudi government has announced that from 2024, it will not enter into business contracts with companies that do not have a Middle East regional headquarters in the country. Reuters explained that this move has intensified the competition between Saudi Arabia and the United Arab Emirates (UAE) over the economic center of the Middle East region.
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