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Korean companies are holding high-level meetings to address supply-chain issues as disruptions have held up production and led to cascading bottlenecks in the global economy, where shortages in one place daisy-chain to the other side of the world.
Doosan Corporation will invest 1 trillion won ($774 million) into its semiconductor business over five years, according to Chairman Park Jeong-won.
The excitement of ordering a new car is being dampened by increasingly long wait times for delivery due to the continuing global auto chip shortage.
Hyundai Motor sold less cars in the first quarter but its revenue and net profit beat expectations as more expensive cars such as Genesis models and SUVs sold well.
Carmakers continue to face challenges due to the global chip shortage, the Ukraine-Russia conflict and China's Covid-19 lockdown.
The global shortage of semiconductors for automobiles started in 2020, driven by production halts caused by Covid-19 lockdowns, the U.S.-China trade war.
The price of the upcoming Galaxy S22 series will start from 999,000 won ($834) in Korea, according to a source in the telecom industry, the same exact price tag as the Galaxy S21 counterpart.
Automakers are coming up with survival plans to endure persistent chip shortages.
Korea's trade minister told his U.S. counterpart that her department’s request that chipmakers provide detailed information on semiconductor sales and inventories should be a one-off.
The United States is asking chipmakers for confidential information, and Korean companies are saying that they might have a hard time complying.
Korea JoongAng Daily Sitemap