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Virus Outbreaks Hit Key Plants in S. Korea, Production Loss Feared

Virus Outbreaks Hit Key Plants in S. Korea, Production Loss Feared

SEOUL, Nov. 30 (Korea Bizwire) — A series of new coronavirus outbreaks have been reported at major industrial plants amid growing concerns about production losses, companies said Monday. COVID-19 infections have affected production and sales at local manufacturers this year. Kia Motors Corp., the country’s second-biggest carmaker, suspended two of its three plants in Gwangju, [...]

65 pct of Manufacturers Expect Status Quo in Biz Environment in Biden Era

65 pct of Manufacturers Expect Status Quo in Biz Environment in Biden Era

SEOUL, Nov. 22 (Korea Bizwire) – Nearly two-thirds of South Korean manufacturing firms believe that the business environment will not change much under the forthcoming Joe Biden administration in the United States, a poll showed Sunday. According to a survey conducted by the Korea Chamber of Commerce and Industry (KCCI), 65.3 percent of local manufacturers [...]

Korean Manufacturers Bear Brunt of New Coronavirus

Korean Manufacturers Bear Brunt of New Coronavirus

SEOUL, Jan. 31 (Korea Bizwire) — South Korean manufacturers, led by carmakers, appear to be beginning to feel the pinch of the rapid spread of the new coronavirus, with possible disruption to production and plant operations around the corner, industry sources said Friday. Hyundai Motor Co. and other major manufacturers have been operating plants in [...]

S. Korean Manufacturers Succeed in Developing Materials Restricted by Japan

S. Korean Manufacturers Succeed in Developing Materials Restricted by Japan

SEOUL, Sept. 5 (Korea Bizwire) — South Korean companies are making progress with localizing production of materials essential for semiconductors and displays, which were previously imported from Japan before restrictions were imposed on them by the Japanese government. A local company recently succeeded in developing ultra-pure hydrogen fluoride, which was one of the materials that [...]

Most S. Korean Manufacturers Rule Out Reshoring: Poll

Most S. Korean Manufacturers Rule Out Reshoring: Poll

SEOUL, Nov. 28 (Korea Bizwire) — An absolute majority of South Korean manufacturers with offshore plants are not considering returning home due mainly to the need to expand overseas markets, a poll showed Wednesday. The survey of 150 such manufacturing companies, taken by the Korea Economic Research Institute (KERI), showed 96 percent of respondents have [...]

Manufacturers Shift Investment Focus to Vietnam from China

Manufacturers Shift Investment Focus to Vietnam from China

SEOUL, Nov. 22 (Korea Bizwire) — South Korean manufacturers have been shifting the focus of their overseas direct investment to Vietnam from China thanks to tax benefits, cheaper labor and other favorable conditions, a report said Thursday. Vietnam accounted for 17.7 percent of South Korean manufacturing companies’ total direct overseas investment in 2017, up sharply [...]

Biz Sentiment at Over 2-yr High but Still Under Par

Biz Sentiment at Over 2-yr High but Still Under Par

SEOUL, Jul. 5 (Korea Bizwire) — South Korean manufacturers’ business sentiment reached the highest in over two years, but pessimism still outweighed optimism overall, a survey showed Wednesday. A survey of some 2,200 manufacturing firms put the business sentiment index (BSI) at 94 in the third quarter, up five points from the second quarter but [...]