Trump Warns Iran as Gulf Conflict Disrupts Oil Markets and Global Trade 
Trump Orders Federal Agencies to Halt Use of Anthropic AI Technology 
PBOC Scraps FX Risk Reserves to Curb Rapid Yuan Appreciation 
China’s New Home Prices Post Sharpest Drop Since 2022 Amid Ongoing Property Slump 
Malta will gain from smart heritage 
Samsung Electronics Stock Poised for $1 Trillion Valuation Amid AI and Memory Boom 
Samsung and SK Hynix Shares Hit Record Highs as Nvidia Earnings Boost AI Chip Demand 
Nintendo Share Sale: MUFG and Bank of Kyoto to Sell Stakes in Strategic Unwinding 
Argentina Tax Reform 2026: President Javier Milei Pushes Lower Taxes and Structural Changes 
U.S. Stocks Close Lower as Hot PPI Data, Nvidia Slide Weigh on Wall Street 
Australia Targets AI Platforms With Strict Age Verification Rules 
OpenAI Secures $110 Billion Funding Round at $840 Billion Valuation Ahead of IPO 
Gold Prices Surge Over 2% After U.S.-Israel Strikes on Iran Spark Safe-Haven Demand 
Middle East Airspace Shutdown Disrupts Global Flights After U.S.-Israel Strikes on Iran 
Asian Markets Slide as Nvidia Earnings, U.S.-Iran Tensions and AI Valuations Weigh on Investor Sentiment 
Oil Prices Surge 13% as U.S.-Israel Strikes on Iran Spark Supply Fears 
Hyundai Motor had to halt its production line in South Korea once again, and just like before, the company had to make this decision due to a parts supply shortage. The assembly works in the automaker’s plant will be disrupted for a while until the parts needed are furnished.
As per Yonhap News Agency, the reason for the parts shortage was related to COVID-19. It was said that infections have spread at factories of Hyundai Motor’s main parts supplier, so it could not deliver the orders.
The suspended plants in S. Korea
It was announced that out of five Hyundai Motor factories in Ulsan, four were temporarily shut down. On Thursday, June 10, the automaker’s spokesperson confirmed it would pause the operations in some Ulsan plants.
"Several Hyundai Mobis workers were infected with COVID-19, and disrupted supplies of cockpit modules resulted in the plants' suspension," the spokesman stated.
At this time, Hyundai's factory no. 1, 2, 4, and 5 are closed, and only its plant no. 3 will continue to operate for now. The only open factory is where the production of the Avante compact and the Venue subcompact is done.
It was said that the company is expecting Hyundai Mobis, the parts supplier, to resume its operations soon, once the health authorities completed its inspection and quarantine measures. When the production starts again, the Hyundai Motor plants will, in turn, be re-opened as well.
Hyundai halted production in India
Prior to the suspension of its plants in S. Korea, Hyundai also shut down its factory in India. In May, the company was forced to close its plant in Tamil Nadu as two workers were diagnosed as positive with COVID-19.
The work was stalled for five days, and the company made this decision as many factory workers staged a sit-in protest for the safety of everyone. They are requesting Hyundai to take measures to avoid the spread of the disease and keep their workplace safe, Business Korea reported.
"The COVID-19 situation in India has become far from good, causing an extension of lockdowns," an official from Hyundai said. "So we have decided to suspend operations in India temporarily."
