South Korea's LG Electronics Inc, the world's second largest television maker, will shift its TV production in Thailand to Vietnam this year for efficiency, logistics and costs, a top executive at its Thai unit said on Tuesday.
The group wants to have one regional base with new machines for TV production comparable with those at its South Korean plants, and considers Vietnam to be the best place, Nipon Wongsaengarunsri, marketing director of LG Electronics (Thailand) Co, told Reuters in a telephone interview.
"Our parent company has considered Vietnam as the most worthwhile country to invest in. Wages are one factor... but the main one is to ensure quality, as well as for logistics," he said.
LG produces about 600,000 television sets a year in Thailand worth 8 billion baht ($243 million), with 100,000 sets for exports, Nipon said.