Samsung, LG consider moving headquarters out of UK

(Baonghean.vn) - The event of Britain leaving the European Union (EU) has really caused a big shock in the economic field. Not only did the London stock market fall freely, the pound depreciate by the hour, but it also forced large electronics companies such as Samsung and LG to consider moving their headquarters out of the UK.

Samsung and LG are considering moving their headquarters out of the UK.

London is currently the European headquarters of many Korean phone companies. According to Korean media reports, both major companies Samsung and LG are planning to move their headquarters from the UK to another country after Brexit.

The reason why Samsung and LG have to relocate their headquarters is simple. When the UK leaves the EU, goods in this country will be subject to import tariffs, in addition to the price of electronic devices will increase due to the weakening of the pound. As a result, the UK market will become very difficult for Samsung, LG and many other companies.

Although the Brexit side won the vote to leave the EU, the UK has not yet officially left the EU and European law still applies in the UK. The referendum result still needs to be ratified by Parliament, plus the process of separating the UK economy from the EU takes about 2 years. Therefore, Samsung and LG will have more time to decide whether to stay or go and choose a new headquarters in Europe.

Quan Le

(According to Phone Arena)