Hyundai, Samsung and LG will accelerate preparations for restoring business against the background of negotiations about stopping.
Large companies in South Korea are preparing for a possible return to the Russian market. The local publication reports The Korea Times.
Hyundai, Samsung and LG will accelerate preparations for restoring business against behind negotiations with the end of fire between Russia and Ukraine. South Korean companies can return to work in Russia, in case of a full -stop stopping and removing penalties.
For Korean businesses, the market with more than 140 million consumers remains important – both for marketing and as a bridge between Central Asia and Europe. In 2021, the turnover between South Korea and Russia reached $ 29.9 billion.
Separate companies have begun to work. LG electronics partially launched the plant in Moscow, which stopped at the beginning of an entire war war. To date, remnants of materials for making equipment are used there.
HD Hyundai Electric plans to participate in the largest Russian electrical engineering exhibition elect 2025, which will be held in April. This may indicate the company’s interest in restoring projects related to the restoration of energy infrastructure.
The Hyundai Motor Group has not yet decided to return to the market, but is studying the situation.
In 2023, the company sold its plant in St. Petersburg who has the right to buy two years. Hyundai subsidiaries – Kia, Hyundai Mobis and Hyundai Steel – recently posted vacancies in Russia. However, the company said “the decision has not been made, and the company is closely monitoring the development of the situation.”
Samsung Electronics, which returned in 2022 stopped its plant in the Kaluga region, also examined the possibility of returning.
However, even if Korean companies return, the competition will be more durable. During the war, Chinese manufacturers significantly increased their existence. In the car market, Chinese brands have already occupied 62%.
As we have written, the Russian market for three years of Russia released by Russia against Ukraine has left 62% of companies from “unfriendly” countries. This example of analysts includes more than 300 foreign companies with “significant possessions” in Russia and a income of at least 1 billion rubles.
In the Russian Federation, the making of gas fell strongly after the end of the transit by Ukraine
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.