LG plans regional headquarter in Riyadh - Asharq TV

LG

18/01/2022 08:48

DUBAI, Jan 18 (Reuters) - South Korea's LG Corp  003550.KS 
is planning to establish its regional headquarter in Saudi
Arabia's capital Riyadh, Asharq television reported on Tuesday. 
    LG's announcement comes as the president of the East Asian
country is visiting the kingdom. 
    The world's top oil exporter and largest Arab economy in
February said it would give foreign firms until the end of 2023
to set up headquarters in the country or risk losing out on
government contracts.
    The move has put the kingdom in competition with regional
business hub the United Arab Emirates.

 (Reporting by Yasmin Hussein and Shakeel Ahmad, Editing by
Louise Heavens)
 ((shakeel.ahmad@thomsonreuters.com;))