LG to Increase Investment in Tianjin

Home>>Business

Last updated at: (Beijing Time) Monday, December 16, 2002

LG to Increase Investment in Tianjin

Electronics giant LG, based in the Republic of Korea (ROK), is to invest about 300 million US dollars in building factories to make air-conditioners and motors in Tianjin by 2005.

DISCUSSION

CHINESE

SEND TO FRIEND

Electronics giant LG, based in the Republic of Korea (ROK), is to invest about 300 million US dollars in building factories to make air-conditioners and motors in Tianjin by 2005.

The expansion was announced by LG Electronics (Tianjin) and Electric Appliances Co. Ltd., a joint venture between LG Electronics Group and Longqing Group, of Tianjin.

The joint venture, founded seven years ago with an investment of 240 million US dollars, has grown into the largest production base for multi-purpose home appliances in north China.

The ROK investors expanded in 1999 and 2001 into microwave ovens and air-conditioners.

New factories in Tianjin, capable of producing 10 million microwave ovens annually, went into production in March this year.

The joint venture has also developed the world's only solar-powered microwave oven. LG has sold 12.1 million microwave ovens globally so far this year, making it the world's biggest seller. Of the total, 58 percent were produced in Tianjin.

Questions?Comments? Click here

LG Sets up Largest Overseas R&D Center in Beijing

LG Invests in Electronics Joint Venture in East China

Top Planner on Main Economic Tasks for 1st 20 Years in New Century ( 16 Messages)

Archaeologists Revise Age of China's Civilization ( 9 Messages)

Chinese Economy to Enjoy Bright Future ( 13 Messages)

Nanjing Marks 65th Anniversary of Japanese Massacre ( 2 Messages)

China Hopes for Constructive US Role in Reunification: Jiang ( 8 Messages)

China Issues White Paper on National Defense ( 20 Messages)