[KOREAN ECONOMIC NEWS] Good morning everyone I am  Rumi Dhar from Kama Group.
Here I have important KOREAN economic news to share with you which is as mentioned
below.

South Korea's top automaker Hyundai Motor Co. has cancelled a plan to resume the operation
of a factory in Russia due to continued supply disruptions amid the Ukraine crisis, company
officials said Tuesday.

Hyundai Motor originally planned to reopen the temporarily suspended operation of the factory
in St. Petersburg on Wednesday but called it off due to persisting supply shortages of
automotive semiconductors, according to the officials. The plant has been shut down since
March 1.

Automotive factories in Russia are reportedly facing disruptions in chip supplies, as air and
sea routes to Russia have been suspended due to sanctions imposed by the United States
and the European Union on Moscow for its invasion of Ukraine.

Hyundai Motor manufactures about 230,000 fully assembled vehicles per year at the Russian
plant.




Read more at: http://www.koreaherald.com/view.php?ud=20220308000924&np=1&mp=1

Kama Group
New Delhi
Have a nice day