SEOUL, Feb. 4 (Korea Bizwire) — GM Korea Co., the South Korean unit of General Motors Co., said Thursday it will cut vehicle production by half at one of its three plants from next week due to a lack of semiconductor chips. GM Korea’s planned output reduction is in line with U.S. parent GM’s decision [...]
SEOUL, Aug. 5 (Korea Bizwire) — POSCO, the world’s fifth-biggest steelmaker by output, and other local steel mills plan to cut their crude steel production due to a sharp decline in global steel demand over the coronavirus pandemic, company officials said Wednesday. Earlier this year, POSCO had planned to produce 36.7 million tons of crude [...]
SEOUL, Feb. 3 (Korea Bizwire) — Hyundai Motor Co. said Monday it will inevitably suspend some vehicle assembly lines at its domestic plants due to shortages of Chinese-made auto parts in light of the spreading coronavirus outbreak. Vice President Ha Eon-tae, head of the main plant in Ulsan, said that it is inevitable that the [...]