subsidies

Automobiles South Korea announces emergency support for auto sector against US tariffs

South Korea’s government has announced emergency-support measures for the country’s auto sector, as it rushed to ease the impact of U.S....

Business & Politics Korea eyes laws akin to US AMPC to offer subsidies for its battery makers

South Korea, home to global top battery makers such as LG Energy Solution Ltd., SK On Co. and Samsung SDI Co., is seeking to enact laws that would l...

Electric vehicles Hyundai, Kia EVs qualify for US subsidies for first time

Five electric vehicle models from Hyundai Motor Group, encompassing Kia Corp., were included in the 25 EV models qualifying for US tax credits in 20...

Food & Beverage SPC to establish bakery plant in Texas

South Korea's SPC Group, the operator of the bakery franchise Paris Baguette said on Thursday it plans to build a plant in the City of Burleson, Joh...

Batteries SK Nexilis gets $133 mn subsidy from Poland

South Korea's SK Nexilis Co., the world’s largest copper foil maker, said on Monday it received a $133 million subsidy from the Polish gover...

Business & Politics US finalizes $4.7 bn chip subsidy for Samsung before Trump takes office

WASHINGTON – The US finalized a $4.7 billion government subsidy for Samsung Electronics Co.'s planned microchip facilities in Texas about a mo...

Electronics SK Hynix to receives $958 mn subsidy from US

SK Hynix Inc. secured a combined subsidy of $458 million in grants and $500 million in loans, a total of $958 million from the US Department of Comm...

Korean chipmakers SKC’s US affiliate Absolics receives $100 million in US R&D grants

Absolics Inc., the US glass substrate affiliate of South Korean chemical materials company SKC Ltd., has been selected to receive up to $100 million...

Energy Hanwha Q Cells, OCI to benefit from expanded US CHIPS Act subsidies

South Korean solar cell companies such as Hanwha Q Cells Co. and OCI Holdings Co. are set to benefit from expanded subsidies covered by the US CHIPS...

Pension funds Korea may mandate pension plans for all workplaces from 2025

South Korea is seeking to introduce corporate pension plans to all workplaces in stages starting next year, alongside mandatory contributions to the...

Korean chipmakers Samsung to more than double chip investment in Texas

Samsung Electronics Co. plans to more than double its total semiconductor investment in Texas to about $44 billion to add an advanced semiconductor ...

Korean chipmakers Samsung to receive over $6 bn in US chip subsidies, eyes extra investment

South Korean tech giant Samsung Electronics Co. is expected to receive more than $6 billion in US chip subsidies as the Joe Biden administration is ...

Automobiles Hyundai, Kia enjoy renewed popularity of LPG trucks Porter, Bongo

Many economists are trumpeting weak business conditions for the coming months. But an economic slowdown isn’t all that bad for Hyundai Motor C...

Electric vehicles Hyundai's Kona included on French EV subsidy eligibility list

Hyundai Motor Co.'s sports utility vehicle Kona is the only Korean EV included on a list of 78 electric vehicle models eligible for French subsidies...

Automobiles Tesla Model Y reclaims spot as Koreans' favorite foreign car in September

The Tesla Model Y reclaimed the top spot on the best-selling imported car list in South Korea last month for the first time since September 2022. Th...

Electric vehicles France’s new EV subsidy bill may violate Korea-EU FTA: KITA

The South Korean auto industry has called for an amendment in France’s new subsidy policy for electric vehicle purchases after voicing concern...

Automobiles No subsidy, no problem: Hyundai, Kia make top 10 US list for EV sales

Hyundai Motor Co. and Kia Corp. in the first half of the year were among the top 10 in sales of battery electric vehicles (EVs) in the US despite re...

Electric vehicles SK Signet to supply over 1,000 ultra-fast chargers to US

South Korea's electric vehicle (EV) charger manufacturer SK Signet Inc. on Monday said it landed an order to supply at least 1,000 ultra-fast charge...

Batteries Deal reached on LG-Stellantis battery plant subsidy; construction resumes

All construction work at a battery joint venture in Canada between South Korea’s LG Energy Solution Ltd. and multinational automaker Stellanti...

Batteries Resumption of LG Energy Solution's JV in Canada gets green light

South Korea’s LG Energy Solution Ltd. has received the green light to resume construction of an electric-vehicle battery joint venture in Ca...

Economy Seoul to lower bar for multi-child family subsidies to raise birth rate

The Seoul Metropolitan Government will change the definition of multi-child families from those with three or more kids younger than 13 to household...

Business & Politics S.Korea to offer subsidies to foreigners investing in advanced technologies

Foreign companies investing in the fields of semiconductor, display and secondary batteries, which are part of South Korea's national strategic tech...

Electric vehicles Hyundai Motor seeks remedies after GV70 exclusion from US subsidies

Hyundai Motor Co. is seeking various ways to make its electric vehicles sold in the US qualify for tax credits after its Electrified GV70 was denied...

Electric vehicles Tesla Korea’s profit, sales fall on new subsidy plans, lack of models

Tesla Inc.’s South Korean business has been worsening in recent months due to the lack of new models launched in the country amid Seoul’...

The KED View Time for South Korea's answer to the US battery subsidy act

The latest guidelines on US subsidies for electric vehicles under the Inflation Reduction Act come as a relief in every sense to South Korean batter...

Korean chipmakers SK Hynix unsure about applying for US chip subsidies: CEO

SK Hynix Inc., the world’s second-largest memory chipmaker after Samsung Electronics Co., said on Wednesday it is unsure about applying for US...

Korean chipmakers Samsung, SK Hynix asked to swallow tough pill over US CHIPS Act

 WASHINGTON, D.C. – South Korean chipmakers on Tuesday expressed deep concerns about the detailed guidelines of the US CHIPS and Science ...

Korean chipmakers South Korea says US Chips Act subsidies have too many requirements

SEOUL—The U.S. Chips Act is dangling billions of dollars in subsidies in front of the world’s biggest semiconductor manufactur...

Economy S.Korea pledges steps to attract more foreign investment

South Korea will boost foreign investment in the country through increased incentives and deregulation, Finance Minister and Deputy Prime Minister C...

Business & Politics Korean lawmakers mull higher chip tax credits, battery subsidies

South Korea’s main opposition party will propose higher tax credits and subsidies for domestic chipmakers and battery manufacturers as early a...