LG Electronics CEO Cho Joo-wan said on Tuesday that the company is fully prepared to expand production facilities in the United States as a way to respond to U.S. tariffs. He said at the shareholder meeting that day: "After the United States imposed tariffs on Mexican products, as a last resort, we secured a production site for refrigerators and ovens at the Tennessee factory."

"We are currently maintaining the site and erecting some temporary structures. If these policies come into effect we will be able to move forward without delay."

LG Electronics currently makes washers and dryers at a Tennessee plant and has been considering moving some appliance manufacturing from Mexico to the United States to avoid potential tariffs.

Regarding whether LG Electronics' factory in Moscow, Russia, will resume production, Cho said: "We are paying close attention to the situation because the conflict is not over yet. We have not taken any drastic action. We can start operations after the sanctions are lifted."

He also announced plans to meet with Microsoft CEO Satya Nadella in Seoul later this week to discuss the details of the cooperation announced by the two companies in January this year. Nadella will visit South Korea on Wednesday to attend an artificial intelligence (AI) event.

Cho said: "We are confident of collaborating in the development of artificial intelligence agents, and LG Electronics' Chiller technology will be installed in Microsoft's data centers. But we still need to determine the exact scale of our contribution."

"Cooler" is LG Electronics' large-scale cooling technology designed for large buildings and high-energy-consuming facilities such as artificial intelligence data centers.