LG opens new refrigerator plant in Brazil

LG Electronics said Sunday it started operating a new home appliance plant in Brazil to widen its business in South America.

Brazil, the world's 11th-largest economy, has long been a key market for LG Electronics where purchasing power among lower-income households has risen alongside government support programs.

The new manufacturing facility, LG's second, in Parana in southern Brazil, began operations last week. The facility has an annual capacity of 600,000 refrigerators.

Combined with its existing facility in Amazonas, LG's annual local production capacity for appliances is projected to top 7 million units.

LG Electronics said the new plant will focus on premium and localized appliances to boost cost competitiveness amid rising local demand, while also serving as an export hub for neighboring countries.

Yonhap