LG shifts Europe HQ from London to Germany
SOUTH Korean tech giant LG Electronics has recently completed the relocation of its European headquarters from London to Germany's Eschborn.
"LG has already completed the relocation process," spokesman Cho Joong Kwon said.
However, he denied recent news reports that highlighted the company is moving its Europe headquarters out of London in the wake of Brexit.
"Related discussions were under way before the Brexit talks began in the UK," he noted.
The relocation marked the second of its kind in less than a year since the firm announced its plan to move its European headquarters from London to Dusseldorf in Germany last year.
After news of the first relocation, the company announced in April that it would now base the European head office in Eschborn.
It is located near Frankfurt in western Germany.
Along with the European headquarters, the electronics firm's German branch has also moved to Eschborn.
The relocation will also support LG's initiative to expand its automotive components business, industry watchers say.
The Frankfurt Motor Show is held in Germany every year.
The city is also home to luxury sedan brands BMW, Audi and Volkswagen.
LG Electronics and its sister firms - LG Innotek, LG Display and LG Chem - have been supplying auto components, such as displays and camera modules, to these carmakers.
LG Electronics also recently participated in a joint project by Mercedes-Benz and Google to develop autonomous cars.
THE KOREA HERALD/
ASIA NEWS NETWORK