SEOUL, April 17 (Korea Bizwire) — Hyundai Motor will temporarily suspend domestic production of its flagship electric vehicles, the Ioniq 5 and Kona EV, as weakening overseas demand and shifting global subsidy policies weigh heavily on exports. According to industry sources on April 17, Hyundai plans to shut down Line 12 at its Ulsan Plant 1 [...]
SEOUL, April 7 (Korea Bizwire) — Samsung Electronics Co. said Monday it plans to leverage its global production network to navigate new U.S. tariff policies, including reciprocal duties that target goods from nearly all countries, including South Korea. “We sell TVs, monitors and sound bars in the United States, with TVs making up the majority,” [...]
SEOUL, April 4 (Korea Bizwire) — The government will hold a series of emergency meetings with representatives from major South Korean industries expected to suffer damage from the United States’ hefty tariffs, the industry ministry said Friday. The Ministry of Trade, Industry and Energy held a meeting with officials from the home appliances, display and [...]