LG looking into Turkey greenfield investment
Milliyet - LG Corp. of South Korea, one of the world’s leading manufacturers of electronics and telecom products, is considering to set up a production plant in Turkey. LG Turkey President Calvin Cho said that the company is about to decide on manufacturing a high tech product in Turkey without disclosing the product type and the amount of the prospective investment.
“LG has been mulling production in Turkey for a long time.. The new investment incentives are very encouraging in this regard..” Cho said in an interview. Speaking of the possible investment in Turkey, LG Turkey President said that it would be a greenfield investment that is geared towards both the domestic and export markets. “The feasilibity study is almost over. The investment decision is due within the next 3 months..”, Cho said, adding that Turkey’s growing economy and qualified labor force in the country were key factors for LG.
The South Korean company is currently producing air conditioners in partnership with Turkish home appliances company, Arcelik.