Korea


LG Chem powers into US with second battery factory

LG Chem powers into US with second battery factory

(ATF) Automotive giant General Motors and its South Korean partner LG Chem are expected to announce on Friday that they will build a second battery cell manufacturing plant: a $2.3 billion factory in Spring Hill, Tennessee.The plant will use a different, more cost-effective battery chemistry than the one the companies …

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Korean EV giants settle bitter trade secrets dispute in US

Korean EV giants settle bitter trade secrets dispute in US

(ATF) Two of the world's largest electric vehicle (EV) battery makers have settled a trade secrets dispute that threatened to upend plans by Ford and Volkswagen, among other carmakers, and throw a spanner in the works of US President Joe Biden's clean energy policy.LG Chem had won a bitter US …

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Borrowing limits raised under changes to Asian financial safety net

Borrowing limits raised in changes to Asian financial safety net

(ATF) Amendments to the Chiang Mai Initiative Multilateralisation – a $240-billion currency swaps agreement involving Southeast Asian nations, plus Korea, China and Japan – went into effect on Wednesday. The move aims to boost financial self-reliance for participating countries.China, Japan, South Korea and the 10 member countries of ASEAN agreed …

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Hyundai Motor production hit as chip shortage worsens

Hyundai Motor production hit as chip shortage worsens

(ATF) South Korea's Hyundai Motor is expected to see production disrupted starting in April because of the widespread chip shortage affecting automakers worldwide, according to reports on March 24.Hyundai's inventory levels have become tight and the problem will soon start to slow production, the Financial Times reported.The company had been …

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Don't cause a stink, Kim Jong Un's sister warns US

Don't cause a stink, Kim Jong Un's sister warns US

(ATF) The powerful sister of North Korean leader Kim Jong Un has warned the US against creating a "gunpowder smell" in the region if it wants peace with the Pyongyang regime, state media said on March 16.The statement came a day before Antony Blinken, US Secretary of State, and Lloyd …

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South Korean companies plug into big plans for electric vehicles

South Korean companies plug into big plans for electric vehicles

(ATF) South Korean manufacturers plunged into electric vehicle (EV) development this week as Samsung SDI said it would invest $850 million to expand its battery factory in Hungary and Hyundai Motor launched a new model in a bid to capture 10% of global sales by 2025.Samsung SDI, an affiliate of …

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North Korea's Kim slams his cabinet for lacking innovative insights

North Korea's Kim slams his cabinet for lacking innovative insigh

(ATF) North Korean leader Kim Jong Un on February 11 denounced his cabinet for a lack of innovation and "smart strategies" as the country's economic woes worsened amid plunging trade with China, its most important economic partner.The ruling Workers' Party wrapped up its four-day plenary meeting, during which Kim stressed …

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South Korea jobless rate hits 22-year high as recovery weakens

South Korea jobless rate hits 22-year high as recovery weakens

(ATF) South Korea's unemployment surged to its highest level since 1999, raising concerns that recovery from the coronavirus pandemic could be tougher than expected.The jobless rate jumped to 5.4% in January from a revised 4.5% the previous month to hit its highest level since the aftermath of the Asian financial …

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Asia's army of small investors takes on short-sellers, GameStop style

Asia's army of small investors takes on short-sellers, GameStop style

(ATF) Asia's retail investors, emboldened by the meteoric rise of video-game retailer GameStop, are joining their online US counterparts and taking on short sellers and making their brokers nervous enough to cut off margin lending.In South Korea, small investors known as "ants" have borrowed so much money to dabble in …

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Asian markets soar as epidemic rages on in the West 

Asian markets soar as epidemic rages on in the West 

(ATF) With the pandemic resurgent in Western countries, investment funds have poured into countries that have better contained Covid-19, Sina Finance has reported.The Korea Composite Stock Index Kospi is one of the world's best-performing stock indexes in 2021. The benchmark index of the Chinese stock market is close to a …

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