Samsung Followed by LG Electronics Halting Shipments to Russia

[Image source=EPA Yonhap News]

[Asia Economy Reporter Cho Hyun-ui] Following Samsung Electronics, LG Electronics has also completely halted shipments to Russia. This is due to the impact of the intensified global maritime logistics disruptions following Russia's invasion of Ukraine.

According to the industry on the 20th, LG Electronics announced through its global newsroom the day before that "all shipments to Russia have been suspended and the situation is being closely monitored."

The company explained that the suspension of shipments to Russia is due to the impact of global maritime logistics disruptions. Global shipping companies such as Germany's Hapag-Lloyd, Denmark's Maersk, and Switzerland's MSC have suspended shipments to Russia citing participation in sanctions against Russia and a decrease in cargo volume. Korea's largest container shipping company, HMM, has also temporarily suspended operations on the Far East route to Russia.

Samsung Electronics had earlier announced at the beginning of this month that all shipments to Russia were halted due to logistics disruptions.

LG Electronics operates home appliance and TV manufacturing plants in the Luza area on the outskirts of Moscow. Products produced at this plant are sold in Russia and the nearby Commonwealth of Independent States (CIS) region.

The plant is still operating normally, but disruptions are inevitable if key component inventories run out.

LG Electronics stated, "The company is concerned about the health and safety of everyone and is also committed to humanitarian relief activities."

This content was produced with the assistance of AI translation services.