LG Electronics Disputes ITC Injury Finding In Washing Machine Antidumping Case

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Jan 23, 2013, 11:50 ET

WASHINGTON, Jan. 23, 2013 /PRNewswire/ -- LG Electronics USA disputes today's injury findings by the U.S. International Trade Commission (ITC) in a washing machine antidumping investigation. Commissioners ruled that domestic industry, principally Whirlpool Corporation, is "materially injured" by washer imports from Korea.

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Wayne Park, president and CEO, LG Electronics USA, said, "LG respects the work the ITC Staff and Commissioners have put into this determination, but we disagree with the result, which will harm U.S. retailers and consumers by artificially raising prices on some of the country's most popular washing machines."

LG Electronics has aggressively contested the injury-related issues in all phases of this proceeding and will review its appeal options when the ITC's final determination is released next month.

"LG is committed to full compliance with U.S. trade laws," Park said. "As the leading brand of front-load residential washing machines in the United States, LG is proud of its premium, stylish and innovative laundry products designed to meet the needs of U.S. consumers."

About LG Electronics USA
LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a $49 billion global force and technology leader in consumer electronics, home appliances and mobile communications. In the United States, LG Electronics sells a range of stylish and innovative home entertainment products, mobile phones, home appliances, commercial displays, air conditioning systems and solar energy solutions, all under LG's "Life's Good" marketing theme. For more information, please visit www.lg.com.

About LG Electronics, Inc.
LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances. With 117 operations around the world, LG achieved global sales of USD 49 billion (KRW 54.26 trillion) in 2011. LG comprises four business units – Home Entertainment, Mobile Communications, Home Appliance, and Air Conditioning & Energy Solutions – and is one of the world's leading producers of flat panel TVs, mobile devices, air conditioners, washing machines and refrigerators. LG Electronics is a 2012 ENERGY STAR® Partner of the Year.

SOURCE LG Electronics USA