Samsung May Move Its London HQ Within The New EU BordersBy cheatmaster 02:56 Tue, 03 Aug 2021 Comments
In the wake of the Brexit results many companies are worried of the economic fallout and are considering relocation within the recent EU borders. Since early this morning, when the final vote count was announced, there are quite few rumors of CEOs traveling to other countries looking for a recent place for their business.
Samsung is one of those industry giants to have its HQ in London. While its EU factories are in Poland and Slovakia, its European base is in London. And as it turns out Samsung is feeling uncertain about the UK's future and is looking to relocate.
I am sure you've probably heard already, but in case you've overslept - 52% of the UK voted for leaving the EU in a historic referendum. The process won't happen overnight and hasn't been even voted by the parliament, but the local economy is already struggling with the British pound falling to a historic low point on the market.
Anyway, we are yet to see if the UK, or England alone, will exit the EU and what comes next. The exit package with the recent trade agreement is yet to be negotiated (assuming the parliament approves the referendum vote), but it's understandable for the companies to create contingency plans.
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