LG Electronics to open washing machine factory in Tennessee in fourth quarter of 2018

The strategic move sees LG moving its plan on opening a U.S. factory from its previous target of February 2019 to the last quarter of 2018.

On Thursday, the CEO of LG Electronics stated the South Korean giant plans on opening a new washing machine factory in the United States in the fourth quarter of 2018.

The factory, which will be located in the state of Tennessee, is being moved forward from its previous target of February 2019, said LG’s vice chairman, Jo Seong-Jin, on the sidelines of a trade show.

In November 2017, the U.S. International Trade Commission had recommended imposition of tariffs on LG and Samsung Electronics in order to discourage them from selling inexpensive washers in the United States.

The step is likely to benefit American appliance maker Whirlpool Corp.

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Categories: Creativity, Economy & Finance, Entrepreneurship, Geopolitics, HR & Organization, Regulations & Legal, Strategy

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