U.S. Korea Connect

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[U.S. Korea Connect @USKoreaConnect]

So far this year, over 71,000 units of electric vehicles have been sold in South Korea, nearly doubling the previous year's record. The domestic sales volume places South Korea as No. 7 globally. Read more about the impressive feat here: https://t.co/bYO3NdmZLZ

[U.S. Korea Connect @USKoreaConnect]

On Thursday, Hyundai Motor Co. released a teaser for the electric SUV, "Seven" ahead of its unveiling in the US this month. The SUV comes equipped with the group's dedicated EV platform's IONIQ battery. Read more about the new vehicle here: https://t.co/9mGIqmst4l

[U.S. Korea Connect @USKoreaConnect]

Samsung SDI and Stellantis announced plans to build an electric battery production plant in the U.S. The planned factory, set for operation in the first half of 2025, is envisioned to produce 23 gigawatt-hours of batteries annually. Read more: https://t.co/z2ZS2kKaGJ

[U.S. Korea Connect @USKoreaConnect]

The South Korean unit of General Motors Co. said Thursday that it will suspend one of its three plants for two weeks early next month due to a chip shortage. GM Korea said it will suspend its No. 1 plant in Incheaon, from October 1-15. Read more here: https://t.co/x4ZuVW6SQp

[U.S. Korea Connect @USKoreaConnect]

As of August, total sales of imported cars with a retail price exceeding $85,156 jumped 65.5% percent on-year, according to data from the Korea Automobile Importers & Distributors Association. Read more about the impressive increase here: https://t.co/v24vTHc4N5

[U.S. Korea Connect @USKoreaConnect]

South Korea maintained the number one spot in new shipbuilding orders for the 4th month straight. Local shipbuilders led by Hyundai Heavy Industries Co. took up 57% of global orders. Read more here: https://t.co/eDAPcjqn4R

[U.S. Korea Connect @USKoreaConnect]

Retail sales in South Korea increased 13 percent in July from a year earlier, data showed Thursday. The combined sales of 25 major offline and online retailers reached $11 billion, up 7% from the previous year. Read more here: https://t.co/4hk1dkQG9e

[U.S. Korea Connect @USKoreaConnect]

South Korea's large business groups increased their investments by nearly 5 percent in the first half of 2021, according to a local market researcher. The top 332 Korean companies invested a combined $70.3 billion in the January-June period. https://t.co/rhGLdvZKq7

[U.S. Korea Connect @USKoreaConnect]

South Korea's top shipping company HMM's operating profit rose to a record high number of $1.38 trillion won in operating profits during the second quarter on the back of growing shipping costs and strong demand. Read more here: https://t.co/9Udklqoyzo

[U.S. Korea Connect @USKoreaConnect]

Hyundai Motor and Kia Motors under Hyundai Motor Group posted all-time high sales in the second quarter this year amid rapidly recovering demand for cars after the pandemic outbreak. Read more here: https://t.co/Py5dXpvat1

[U.S. Korea Connect @USKoreaConnect]

On Thursday, Hyundai Motor Co., South Korea's biggest carmaker said its second-quarter net profit nearly quadrupled compared with a year earlier on strong demand for its vehicles that offset output disruptions by chip shortages. https://t.co/bkCdsifZ9Q

[U.S. Korea Connect @USKoreaConnect]

South Korea's automobile exports advanced 28 percent in the first half of 2021 thanks to global economic recovery and rising demand for premium models, data showed Thursday. Read more here: https://t.co/v9LigYVHrL

[U.S. Korea Connect @USKoreaConnect]

Hyundai Motor and Kia, the two automotive brands of the largest Korean automobile group, witnessed all-time high sales in the U.S. in the first half of this year. The companies sold a combined 804,944 vehicles, a 48.1 percent increase from a year earlier. https://t.co/M5VQa5OjC5

[U.S. Korea Connect @USKoreaConnect]

In a historic summit between U.S. President Joe Biden and Korean President Moon Jae-in, President Biden pledged to deliver COVID-19 vaccinations to South Korea. The shipment included enough vaccines for more than one million Koreans. More on the deal here: https://t.co/qU0KHkKQuE

[U.S. Korea Connect @USKoreaConnect]

South Korea, which aims to go carbon neutral by 2050, will expand its smart water management by installing floating solar farms near dams and applying hydrothermal energy technologies to data centers. https://t.co/nztlVsE5H9

[U.S. Korea Connect @USKoreaConnect]

The world's semiconductor market is projected to attain greater growth this year than initially forecast. The Asia-Pacific region, including major chip producers like South Korea, are expected to account for 63.5 percent of global chipmakers' sales. https://t.co/kVBsn3YwUI

[U.S. Korea Connect @USKoreaConnect]

South Korea accounted for around 31 percent of the total $23.5 billion in semiconductor equipment investment during the first quarter, reclaiming industry leadership with $7.3 billion in investments. https://t.co/fGIB8OaKWp

[U.S. Korea Connect @USKoreaConnect]

In a meeting with a group of countries supporting a multilateral trading regime, South Korea vowed to play a bigger role in easing global shortages of COVID-19 vaccines. Trade Minister Yoo said South Korea will emerge as a global hub of production. https://t.co/vOaGqEK7E0

[U.S. Korea Connect @USKoreaConnect]

South Korea's early trade data project exports are set to surge in May as vaccinations allow a broader reopening of major economies. Average daily shipments increased 59.1% in the period which had half a business day less than a year earlier. https://t.co/dAfZeOXYnU

[U.S. Korea Connect @USKoreaConnect]

Joining China and the U.S. in a global race to dominate key chip technology, South Korea unveiled ambitious plans to spend roughly $450 billion to build the world’s biggest chipmaking base over the next decade. https://t.co/jsQpyCI8ia