Hyundai Motor to invest 8.1 trillion won for EV production in US by 2025

May 14, 2021 23:17 pm UTC| Economy Business

Hyundai Motor Group will invest 8.1 trillion won in the US by 2025 to produce electric vehicles, improve production facilities, and increase its presence in the smart mobility solutions area. South Koreas top automaker,...

Japanese firms in India face cloudy prospects due to virus crisis

May 14, 2021 22:43 pm UTC| Economy Business

A number of Japanese businesses in India were forced to halt production and bring staff members back to Japan due to escalating COVID-19 crisis that is triggering regional lockdowns. New daily infections remain over...

S. Korea's logic chip capacity share expected to drop due to US expansion

May 14, 2021 22:35 pm UTC| Economy Business

South Koreas capacity share in the advanced logic chip market is likely to decline as the US attracts more global semiconductor firms to build plants on its turf, according to a report by Counterpoint Research. The...

Hyundai, Kia to suspend plant operations due to chip shortages

May 14, 2021 21:35 pm UTC| Economy Business

Hyundai Motor Co. will suspend its No. 3 and 5 Ulsan plants for several days next week while its affiliate Kia Corp. will suspend its No. 2 Sohari plant due to semiconductor shortages. Operations at the No. 5 Ulsan...

Chick-fil-A limits sauce distribution to customers due to supply chain woes

May 14, 2021 21:28 pm UTC| Economy Business

Chick-fil-A announced it will be limiting customers to one sauce cup or packet per item ordered at most of its approximately 2,600 restaurants. The chicken sandwich company said it is making adjustments to quickly solve...

Kepco's Q1 operating profit soars 33% to 571.6 billion won

May 14, 2021 21:22 pm UTC| Economy Business

Korea Electric Power Corp.s (Kepco) first-quarter operating profit soared 32.8 percent on-year to 571.6 billion won as revenue dropped 0.1 percent to 15 trillion won. The state-owned, electricity-focused utility saved...

McDonald’s announces hourly wage pay hike to attract applicants as it aims to hire 10,000 workers

May 14, 2021 09:43 am UTC| Business Economy

McDonalds is hiking up its hourly wages in its restaurants in the U.S. as it looks to recruit 10,000 staff for some state locations. The labor market in the country is currently experiencing a shortage as restaurants are...