On Tuesday, in a statement South Korea’s Hyundai Motor Co said, production at its Ulsan number one plant in South Korea would be suspended from April 7 to 14 due to supply issues with electrical components and a shortage of… Read More ›
South Korea
South Korea unveils plan to build world’s largest offshore wind farm for $43 billion
In a significant development, South Korea has unveiled a plan to build the world’s largest wind power plant by 2030 at a cost of $43.2 billion (48.5 trillion won) as part of broader efforts to foster an sustainable-friendly economic recovery… Read More ›
EBay exploring sale for its South Korean business, including Gmarket
In a statement, EBay Inc said, it has started a process to explore a range of strategic alternatives for its South Korean business, including Gmarket – one of the largest online marketplaces in the country. In a report, Seoul-based Korea… Read More ›
Iranian Revolutionary Guards Corps seizes South Korean flagged tanker
According to a report from the Iranian media, Iran’s Revolutionary Guards Corps has seized a South Korean-flagged tanker in Gulf waters and has detained its crew. The development comes in the wake of South Korean banks freezing Iranian funds following… Read More ›
Indonesia signs $9.8 billion deal for constructing integrated electric battery factory from upstream to downstream
In a significant development South Korea has signed a memorandum of understanding (MOU) with a unit of South Korean giant LG Group for a battery investment deal valued at $9.8 billion electric vehicle (EV). The deal, signed on December 18,… Read More ›
Hyundai Motor to recall Kona electric cars and Nexo fuel cell vehicles due to faults in electronic braking system
In a statement South Korea’s Transport Ministry said, Hyundai Motor Co plans on recalling 50,864 Kona electric cars and Nexo fuel cell vehicles in the country due to a fault in the electronic braking systems. The recall is because existing… Read More ›
United Airlines and the American Airlines Group Inc stops non-stop flights to Shanghai
In a statement, United Airlines and the American Airlines Group Inc said, they have stopped non-stop flights from the United States to Shanghai, which included Seoul on the route. “We started operating passenger service from DFW (Dallas/Fort Worth) to PVG… Read More ›
Singapore-Hong Kong travel bubble signals return to near-normal for travel industry
In a development that marks the re-establishment of overseas travel links between countries, Hong Kong and Singapore have announced that they will lift quarantine requirements for visiting foreigners. In a statement Singapore’s Transport Minister and Hong Kong’s Commerce Secretary said,… Read More ›
Euisun Chung, heir apparent, takes the helm at Hyundai Motor Group
According to a news report from South Korea’s Yonhap news agency, Hyundai Motor Group’s executive vice chairman Euisun Chung is set to become its chairman on Wednesday. The development sees Euisun Chung formally taking over the reins of the car… Read More ›
Japan to lift travel ban to 12 countries from November 2020
On Thursday, in a report, Japanese newspaper Yomiuri stated, from November 2020, Japan plans on removing the ban on overseas travel 12 countries including China, from where the coronavirus emerged. The 11 other countries and regions include Taiwan, Malaysia, Australia,… Read More ›
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