Chinese airline lays off S. Korean flight attendants while retaining those from China, Japan, and Europe
Korea Investment Corp. divests all Alibaba stakes, unsure of investments in other Chinese tech stocks
S. Korea to increase R&D budget for next-generation cars
South Korea will spend 367.9 billion in research & development (R&D) on key technologies for next-generation vehicles this year, up 37 percent from the previous year, to help local automakers take the lead in the market.
Finance Minister Hong Nam-ki said the government will focus on six key technologies crucial to developing next-generation cars, including automotive chips, batteries, hydrogen fuel cells, and self-driving communications.
He added that it is urgent to preemptively invest in R&D on next-generation vehicles as competition has deepened to secure key technology.
President Moon Jae-in vowed strong and various support for the local semiconductor sector in a meeting with business leaders Thursday,
Hyundai Motor Co. has suspended part of its plants in the country due to a shortage of electronics parts amid a global supply crunch of automotive chips.