NH NongHyup Bank announced on July 16 that it held an opening ceremony for its Noida Branch in India on July 13 (local time).More than 100 people, including Kim Yong-gi, vice president of NH NongHyup Financial Group; Chang Jae-bok, South Korean Ambassador to India; Awasthi, CEO of the Indian Farmers
Lee Seok-yong, CEO of NongHyup Bank (NH Bank), held a video conference with overseas branch managers on Feb. 8 to check the current status of business promotion by country and encourage employees.Lee asked overseas branch managers to make efforts to generate profits in global business and clarify bu
Samsung Electronics will build its first refrigerator compressor plant in India by investing 250 billion won.The company and the government of Tamil Nadu in India signed a memorandum of understanding on the matter in Chennai on March 15 (local time), according to Samsung Electronics' Indian subs
Samsung Electronics has relocated some smartphone production lines of its Vietnamese business partners back to its Gumi plant. The decision was taken after overseas plants, including those in Vietnam, suffered production disruptions due to COVID-19.At the end of 2021, Samsung Electronics moved two p
COVID-19 re-proliferation in India and Vietnam is affecting South Korean companies, including Samsung Electronics, Hyundai Motor Co. and LG Electronics.In India, the number of confirmed COVID-19 infections amounted to 27.9 million and the death toll increased to 325,972 on May 30. In Vietnam, the re
Samsung Electronics is building a smartphone production plant in Turkey with an annual capacity of 3 million units. It is the company’s first overseas plant in eight years since the opening of a plant in Vietnam in 2013.The latest factory is located in Tekirda, northwest of Turkey, and is preparing
India’s daily COVID-19 death toll hit an all-time high of 4,187 on May 8. On May 1, the number of newly confirmed infections in India topped 400,000 for the first time worldwide. Under the circumstances, South Korean companies in India, approximately 700 in number, are expanding telecommuting and he
Samsung Display has started producing smartphone OLED panels at its factory in Noida, Pradesh of India.The company began to build the plant in early 2020 to supply smartphone panels to Samsung Electronics, which has a smartphone plant nearby. It invested about 53.67 billion rupees (about 800 billion
Samsung Display will send about 100 engineers to India via a chartered plane on Nov. 6 to accelerate the completion of an OLED module plant in India.The engineers, who include officials from partner companies, are sent to the company’s plant for medium-sized OLED panels that is being built in Noida,
NH Nonghyup Financial Group held a video conference with managers of 12 overseas branches in seven countries for two days from July 28-29. This was the first non-face-to-face conference held by the group’s Global Business Division since the COVID-19 outbreak early this year.The first day of the meet
While their plants in India remain locked down, South Korean companies are donating money and relief goods to the country's central and local governments to help them contain the COVID-19 outbreak. Samsung Electronics’ India unit plans to donate 200 million rupees, or approximately 3.2 billion w
Until March, Korean companies were concerned about production disruptions due to the spread of the novel coronavirus in China. As the virus has spread around the world, they are now faced with disruptions in global demand and supply. The global value chain has been paralyzed, impacting on major Kore
Korean companies operating in India have stopped their local production lines in line with the Indian government’s efforts to prevent the spread of COVID-19."Abiding by the Indian government's decision, we will halt the operation of Noida Plant which produces smartphones and Chennai Plant that p
The state-run Export-Import Bank of Korea (Eximbank) announced on Oct. 10 that it will extend US$750 million (896.60 billion won) to Reliance Jio Infocomm Ltd., the largest mobile carrier in India, in the form of a loan and credit guarantees. Samsung Electronics Co. has won the 4G project from the I
Nonghyup Bank is seeking to establish a branch in Sydney of Australia, Beijing of China and India. While other Korean commercial banks are focusing on retail financing in Southeast Asia, including Vietnam, the bank is seeking to secure a foothold in Australia, China and India.The bank’s CEO Lee Dae-
Harman International Industries, a subsidiary of Samsung Electronics, held a ceremony on June 3 (local time) to celebrate the expansion of an auto parts manufacturing facility at its factory in Chakan of India with the attendance of local government officials.Founded in 2014, the plant produces a va
Samsung Group’s electronics units are said to be planning to invest 25 billion rupees (US$360.35 million or 421.25 billion won) in smartphone production lines in India.Samsung Display Co. and Samsung SDI Co. are planning to establish their local subsidiaries in India and invest 15 billion rupees (US
Indian Prime Minister Narendra Modi, who is staying in South Korea, is scheduled to meet with the South Korean entrepreneurs including Samsung Electronics vice chairman Lee Jae-yong and Hyundai Motor Group vice chairman Chung Eui-sun on Feb. 22.The prime minister visited South Korea and attended the
Samsung Electronics announced on Dec. 12 that it would shut down its mobile phone manufacturing factory in Tianjin at the end of this month. In China, Samsung Electronics has produced mobile phones in Tianjin and Huizhou, with most of the smartphones produced in Tianjin exported.The company’s decisi
This year's cellular phone production in Korea has sharply dropped to one sixth of what it was 10 years ago.Market research firm Strategy Analytics (SA) said on October 23 that the total number of cellphones produced in Korea this year is estimated to be 25 million units, which is only 18.4% of