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  Hyundai Motor's factory in Russia remains closed amid Ukraine crisis: company officials

  SEOUL, March 8 (Yonhap) -- 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 Moto
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  Hyundai IONIQ 5 named UK Car of the Year 2022

  SEOUL, March 8 (Yonhap) -- Hyundai Motor Co.'s all-electric IONIQ 5 has been named the UK Car of the Year 2022, beating nine competitors in the final round, the company said Tuesday. The IONIQ 5 outpaced the nine models, including the Fiat 500-e
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  S. Korea, U.N. agency discuss stable supply chains for developing nations

  SEOUL, March 8 (Yonhap) -- South Korea and the United Nations Industrial Development Organization (UNIDO) on Tuesday discussed ways of helping developing nations strengthen supply chains of key materials amid growing global uncertainties, Seoul's
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  Russia's retaliatory financial measures likely to deal blow to S. Korean businesses

  By Woo Jae-yeon and Choi Kyong-aeSEOUL, March 8 (Yonhap) -- South Korean companies with business ties with Russia will likely be hit by Moscow's retaliatory moves to allow Russian companies to make payments to foreign creditors in the Russian cur
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  S. Korea seeks measures to minimize industry impacts of Russia's 'unfriendly countries' decision

  SEOUL, March 8 (Yonhap) -- South Korea has sought measures to minimize potential impacts of Russia's decision to put South Korea on its list of "unfriendly nations" amid concerns over its damage to exporters and other business entitie
• Thumbage to raise 5 bln won via stock sale

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  SEOUL, March 8 (Yonhap) -- Thumbage Co. on Tuesday announced that it will sell stocks to raise 5 billion won(US$4 million). The proceeds from the stock offering will be used primarily to finance its operations.According to a regulatory filing, the co
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  Finnair to resume flights on Incheon-Helsinki route

  SEOUL, March 8 (Yonhap) -- Finnair, Finland's national carrier, said Tuesday it will resume services on the Incheon-Helsinki route from Thursday without access to Russian airspace. Despite having to avoid Russian airspace, Finnair plans to offer
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  Banks asked to strengthen buffer against pandemic, Ukraine uncertainties

  SEOUL, March 8 (Yonhap) -- South Korean banks were told to set aside more loan-loss provisions to better brace for the uncertainties from the ongoing pandemic and the Ukraine tensions, South Korean regulator said Tuesday. The banks were recommended t
• SK affiliate, U.S. firm set up JV for clean power projects in Asia

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  SEOUL, March 8 (Yonhap) -- SK Materials Co., an affiliate of South Korea's SK Group, said Tuesday it has formed a joint venture with U.S. clean technology firm 8 Rivers Capital, LLC to deploy zero-emissions power projects in the Asia-Pacific regi
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  S. Korean shipbuilders rank first in global new orders in Feb.

  SEOUL, March 8 (Yonhap) -- South Korean shipbuilders took the top spot in global new orders in February, far outpacing their Chinese rivals, industry data showed Tuesday. Local shipyards, led by Hyundai Heavy Industries Co., clinched 860,000 compensa
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  U.S. confirms exclusion of S. Korea from its export controls against Russia

  SEOUL, March 8 (Yonhap) -- The U.S. government has formally announced the exclusion of South Korea from its expanded export restrictions on Russia over its invasion of Ukraine, which enhances partner nations' joint efforts to implement strong san
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  POSCO Chemical, GM to build US$400 mln cathode JV in Canada

  SEOUL, March 8 (Yonhap) -- South Korean chemical maker POSCO Chemical Co. said Tuesday it will build a joint cathode venture with U.S. auto giant General Motors Co. in Canada to supply the key material to the U.S. automaker's electric vehicles.Th
• Hyundai Motor joins Samsung, SK in supporting Ukraine refugees

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  SEOUL, March 7 (Yonhap) -- Hyundai Motor Co., South Korea's top automaker, said Monday that it plans to donate US$1 million to the Red Cross to support humanitarian efforts in war-hit Ukraine."As the humanitarian situation worsens in Ukrain
• (LEAD) S. Korea to suspend transactions with Russia's central bank, sovereign funds

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  (ATTN: RECASTS with latest info throughout)SEOUL, March 7 (Yonhap) -- South Korea said Monday it plans to suspend transactions with Russia's central bank, sovereign wealth funds and another Russian lender as it has joined the global move to impos
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  POSCO Chemical to build precursor plant for EV battery in S. Korea

  SEOUL, March 7 (Yonhap) -- South Korean secondary battery materials maker POSCO Chemical Co. said Monday it will construct a new plant in the country to manufacture precursors to meet growing demand for electric vehicle (EV) batteries.The unit of Sou
• Stcube to raise 44.6 bln won via stock sale

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  SEOUL, March 7 (Yonhap) -- Stcubeon Monday announced that it will sell stocks to raise 44.6 billion won(US$36.3 million). The proceeds from the stock offering will be used primarily to finance its operations.According to a regulatory filing, the comp
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  Hyundai outlines used car business plans

  SEOUL, March 7 (Yonhap) -- Hyundai Motor Co. on Monday outlined its used car business plans to expand customers' right of choice, though the government put a halt to the business launch due to objection from existing players.In the past two years
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  Hyundai, IVECO sign MOU for commercial car partnership

  SEOUL, March 7 (Yonhap) -- South Korea's Hyundai Motor Co. said Monday it has signed an initial agreement with Italian carmaker IVECO Group N.V. for partnership in global commercial vehicle markets. Hyundai and IVECO have signed a memorandum of u
• Zinus turns to black in Q4

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  SEOUL, March 7 (Yonhap) -- Zinus Inc. on Monday reported its fourth-quarter net profit of 6.5 billion won (US$5.3 million), turning from a loss of 9.3 billion won a year earlier.Operating profit for the October-December period was 16.2 billion won, u
• Zinus 2021 net profit up 12.8 pct. to 51.7 bln won

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  SEOUL, March 7 (Yonhap) -- Zinus Inc. on Monday reported its 2021 net profit of 51.7 billion won (US$42.1 million), up 12.8 percent from a year earlier.The company said in a regulatory filing that it posted 74.3 billion won in operating profit for th