Latest news with #JAEWON
Nikkei Asia
6 days ago
- Automotive
- Nikkei Asia
Hyundai Motor profit falls 16% in Q2 on Trump tariffs
The earnings announcement comes one day after the U.S. and Japan agreed to reduce tariffs on Japanese autos to 15%, potentially hurting Hyundai's price competitiveness in the U.S. market. © Reuters KIM JAEWON SEOUL -- Hyundai Motor's operating profit fell by 15.8% in the second quarter as a U.S.-imposed 25% tariff on autos weighed on South Korea's biggest vehicle maker. The company, which ranks as the third-largest automaker in the world in tandem with affiliate Kia, said on Thursday that operating profit came to 3.6 trillion won ($2.6 billion) for the April-June quarter from 4.3 trillion won during the same period last year.
Nikkei Asia
03-07-2025
- Business
- Nikkei Asia
Samsung delaying completion of US chip plant due to lack of customers
South Korea's Samsung has invested billions in the U.S. and plans further spending to expand chipmaking capacity there. (Source photos by Samsung) KIM JAEWON and CHENG TING-FANG SEOUL/TAIPEI -- Samsung Electronics is delaying completion of a semiconductor factory in the U.S. state of Texas, as the South Korean chipmaker struggles to find customers for the plant's output, sources familiar with the matter told Nikkei Asia. Samsung has said it will invest more than $37 billion in Texas in the coming years, having been awarded a grant by the Biden administration of up to $4.7 billion in December under the CHIPS and Science Act, which aimed to advance U.S. technology leadership.
