Following Samsung Electronics, LG Electronics Also Halts Shipments to Russia Due to Logistics Disruptions

[Image source=Yonhap News]

[Asia Economy Reporter Kim Jin-ho] Following Samsung Electronics, LG Electronics has also suspended shipments of goods to Russia. This is due to the intensified global maritime logistics disruptions following Russia's full-scale invasion of Ukraine.

According to the industry on the 20th, LG Electronics stated through its newsroom the day before, "All shipments to Russia have been suspended, and we are closely monitoring the situation."

LG Electronics explained that this is due to the blockage of global maritime logistics. 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.

Earlier, Samsung Electronics announced earlier this month that all shipments to Russia had been suspended due to logistics disruptions.

Meanwhile, 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 LG Electronics Russia plant is currently operational, but if key component inventories are depleted in the future, disruptions in production and other operations are expected to be unavoidable.

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