Hyundai has stopped auto production at its four factories in China as tensions between South Korea and Being rose over US deployment of Terminal High Altitude Area Defense anti-missile system.
All four of its factories that have been in operation in China had stopped manufacturing vehicles as of Tuesday after a local parts supplier refused to supply components when Hyundai delayed payment. The company did not provide more details of the payment issue. Production at assembly lines gradually stopped starting last week because of the lack of the components, a spokesman was quoted as saying by Japanese news daily, Mainchi Wednesday.
Hyundai operates a joint venture, Beijing Hyundai Motor Co., with BAIC Motor Corp.
Hyundai's sales in China plunged 64 percent during the April-June quarter from a year earlier and its quarterly profit fell to the lowest level since 2010. Chinese consumers shunned South Korean cars because they are angry over Seoul's decision to deploy the U.S. missile defense system. South Korea says the defense system is aimed at deterring North Korean aggression but China is worried that its powerful radars would peer into its territory.
During the first half of this year, the company sold 321,000 vehicles in China, down 42 percent from a year earlier.
South Korea will conduct an on-site environmental survey next week of the THAAD missile defense system deployed in a southern area of the country. The move is part of the "small-scale" environmental impact assessment that started in December, and now is in the home stretch, said the Ministry of National Defense,
Chinas Peoples Liberation Army Rocket Force (PLARF) struck down a mock-up of US Terminal High Altitude Area Defense (THAAD) site and ground based models of F-22 Raptor stealth fighters during a ballistic and cruise missile exercise. The PLARF employed four DF-26C intermediate-range ballistic missiles (IRBM), 10 DF-16A medium range ballistic missiles and six CJ-10 land attack cruise missiles in a live-fire drill it conducted a day before a major parade to celebrate PLAs 90th anniversary,
South Korean President Moon Jae-in ordered ‘temporary installation of additional launchers on the THAAD missile defense system to boost South Koreas defense capabilities in the wake of recent missile tests by North Korea. A THAAD battery is made up of six launchers, but only two have been installed in South Korea pending an environmental impact review
US Air Force conducted a test of Terminal High Altitude Area Defense (THAAD) defense system for second time this month in Alaska by launching a ballistic missile over the Pacific Ocean Sunday. The weapon was fired by a U
South Korea and the United States have begun talks on the matter of resuming the deployment of the US Terminal High Altitude Area Defense (THAAD) system on South Korean soil. "As for the deployment of six (THAAD) launchers, South Korea and the U
Hyundai Heavy Industries has bagged a 634 billion won ($563 million) order to build two frigates. Under the deal with South Korea's Defense Acquisition Program Administration, Hyundai Heavy will deliver the two 2,800-ton ships by 2023 to the country's Navy, Hyundai Heavy Industries said in a statement Thursday
Disappointed at losing three large US DoD arms deals worth $12 billion to Boeing, Lockheed Martin is counting on a potential Terminal High-Altitude Area Defence (THAAD) sale to Saudi Arabia worth $15 billion to increase its sales and profits. The US Navy awarded Boeing a $2
South Korea's defense ministry today announced that it has put off the testing of it Long Range Surface-to-air interceptor missile (L-SAM) due to “technical reasons.” However, unnamed critics said that the test was delayed at the instruction of the presidential office as the Moon Jae-in administration wanted to avoid antagonizing the North amid a reconciliatory mood, the Yonhap News Agency reported
Hyundai Heavy Industries (HHI) has completed steel-cutting for the Philippine Navy (PN)s second missile-armed frigate at Pohang City, South Korea. In a statement Wednesday, PN said this was held at the Shin Hwa Tech facility, a sub-contractor of Hyundai Heavy Industries (HHI), the shipyard builder that won the PHP18-billion (US$333
US Forces, Korea has officially set up the unit charged with operating the Terminal High Altitude Area Defense (THAAD) battery deployed in the country. A ceremony was held in the southeastern county of Seongju on Thursday to transfer the Delta Battery of the 11th Air Defense Artillery Brigade in Fort Bliss, Texas, to the 35th ADA Brigade in South Korea,
The US Forces in Korea (USFK) have transported four additional THAAD rocket launchers into its new base in Seongju despite fierce protests by local residents. The South Korean defense ministry has announced that the deployment has been completed in a ‘tentative step to counter urgent threats posed by North Korea,
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