OREANDA-NEWS Three South Korean giants would like to return to the Russian market: Hyundai Motor, LG Electronics and Samsung Electronics. This was reported by The Korea Times.

The main conditions for this, the publication calls the conclusion of peace between Russia and Ukraine and the lifting of sanctions. As the negotiation process between Moscow and Washington develops, Korean companies are stepping up preparations for their return to Russia. The latter is seen as a critically important market for diversifying business interests, especially against the backdrop of growing tariff pressure from the United States.

It is emphasized that Russia serves as a strategic hub connecting Central Asia and Europe. According to the Korean Ministry of Foreign Affairs, bilateral trade between Korea and Russia reached $29.9 billion in 2021. At that time, Russia was ranked 12th among Korea's largest export markets.

According to LG Electronics CEO Cho Ju-wan, his company is closely monitoring the situation, as it may resume operations in Russia after the lifting of sanctions. Representatives of Hyundai and Samsung spoke in a similar spirit.

However, according to the newspaper, Korean companies will face serious difficulties if they start working in Russia again, as Chinese competitors have expanded their market share there.