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LG Electronics to move Europe headquarters to Frankfurt

All News 10:23 July 21, 2016

SEOUL, July 21 (Yonhap) -- South Korea's LG Electronics Inc. plans to move its European headquarters to Frankfurt from London next month, a company official said Thursday.

The move is aimed at better targeting the European market for vehicle components because Frankfurt is a center for Europe's auto industry, the official said.

LG also decided to move its German unit to Frankfurt from Dusseldorf, according to the official.

LG is looking to find new revenue sources from electric cars by supplying parts for the Chevrolet Bolt and joining a partnership with Google in developing self-driving cars.

kdh@yna.co.kr
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