LG Electronics’ Debacle in South Wales

In 1996, the Korean chaebol LG announced a 1.7 billion pound investment in the city of Newport, South Wales, the United Kingdom. The high tech manufacturing facilities - consisting of two parts - would have created over 6,000 jobs. Unfortunately, LG never managed to produce that many jobs, despite a grants package announced to be worth nearly a quarter of a billion pounds. Though not all of that was paid out. This is a rough story. In this video we are going to talk about LG Electronics' ill-fated manufacturing efforts in South Wales. Links: - The Asianometry Newsletter: https://asianometry.substack.com - Patreon: https://www.patreon.com/Asianometry - Twitter: https://twitter.com/asianometry