This photo, taken on April 7, 2020, shows the headquarters building of LG Group in Seoul. (Yonhap)
SEOUL, March 20 (Korea Bizwire) — South Korean tech giant LG Electronics Inc. said Sunday it has suspended shipments to Russia due to difficulties in the global offshore logistics.
LG said in a statement that it is “suspending all shipments to Russia and will continue to keep a close watch on the situation as it unfolds.”
“We are deeply concerned for the health and safety of all people, and LG remains committed to supporting humanitarian relief efforts.”
The suspension came as the world’s major marine shippers, such as Hapag-Lloyd AG of Germany and Maersk of Denmark, have suspended their shipping services to Russia due to a demand fall and the global sanctions against Russian over its invasion of Ukraine.
LG said its home appliance and TV manufacturing factories in Ruza, a town west of Moscow, is still in operation, but the production may face difficulties if the key parts run out.
Earlier this month, South Korean tech behemoth Samsung Electronics Co. also suspended shipping to Russia, citing a similar reason.
(Yonhap)
