Gold Prices Slide as Hawkish Fed and Strong Dollar Weigh on Bullion 
G7 Explores AI Access Deal With U.S. Amid Anthropic Restrictions 
Asian Currencies Stabilize as Dollar Holds Near Two-Month High After Fed Hawkish Signal 
Oil Prices Slide as U.S.-Iran Deal and Hormuz Reopening Ease Supply Concerns 
German Industry Employment Falls to Lowest Level in a Decade 
HSBC Australia Faces A$35M Penalty Over Scam Protection Failures 
TD Bank Expands Employee Monitoring Software to Boost Productivity Amid Privacy Concerns 
Trump Administration Delays DeepSeek and CXMT Trade Blacklist Designations Amid U.S.-China Tensions 
US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge 
Oil Prices Drop as U.S.-Iran Peace Deal Eases Supply Concerns 
Trump Questions USMCA Renewal as Trade Talks Continue 
Carro Expands Into Australia With Acquisition of Used-Car Platform CarPlace 
Dollar Hits One-Month High as Hawkish Fed Outlook Boosts Greenback 
Japan Inflation Stays Below BOJ Target Despite Rate Hike and Rising Energy Cost Risks 
Ukrainian Drone Makers Target Japan and Asia Defense Market 
Japan Signals Readiness to Intervene as USD/JPY Nears 161 Amid Yen Weakness 
Kingboard Holdings Shares Surge After HK$11.77 Billion Block Trade to Expand PCB and AI Supply Chain Business 
Hyundai Mobis Co. revealed it has split up its auto parts and modules manufacturing businesses, so they are now two separate subsidiaries of the company. With this, it has set out to expand its module facility in South Korea.
As part of the plan, Hyundai Mobis will build another automotive module plant in Ulsan which is located in the Southeastern part of the Korean peninsula. This area is where its parent Hyundai Motor also operates its largest manufacturing complex.
Industry sources said this will be the auto parts company’s third factory for the production of modules. As per The Korea Economic Daily, the construction of another plant in the country comes after Hyundai Mobis spun off its vehicle module business into a fully-owned unit which it named Motras.
The company is investing KRW100 billion, or around $77 million, to build the new plant in Ulsan, and the construction will be under the Motras label. It is expected to be completed by the year 2026.
Currently, Motras module-making unit is already operating about 10 plants in the country. Once the Ulsan facility is in full operation, its products are likely to be used for the new vehicles being built by Hyundai Motor.
Meanwhile, Hyundai Mobis is also building another plant in Indonesia, and construction for this has officially started this month. This electric vehicle battery system plant is part of the auto parts maker’s push to further expand the EV market in Southeast Asia.
The Korea Herald reported that the groundbreaking ceremony was held last week in West Java. The target date of completion is within the first half of 2024. The exact site of Hyundai Mobis’ new plant in Indonesia is in the industrial complex of Kota Deltamas, which is about 60 kilometers away from the city capital of Jakarta.
Photo by: Hyundai Mobis Newsroom
