S. Korea's English proficiency slips 13 notches to 49th
N. Korea reinstates DMZ guard posts
N. Korea says spy satellite took photos of White House, Pentagon, key US naval base
15-year-old girl saves 5 lives with organ donations after death
BOK likely to keep policy rate unchanged on slowdown, hope for Fed's rate freeze, easing inflation
Samsung SDI, LG Chem batteries excluded for EV subsidies in ChinaBy 이지윤
Published : June 20, 2016 - 18:53
[THE INVESTOR] The Chinese government has decided to suspend consumer subsidies for electric vehicles using batteries produced by two Korean companies Samsung SDI and LG Chem.
The decision is expected to become a huge blow to the Korean duo that has poured considerable resources into the Chinese market in recent years, including building new battery-making plants.
According to news reports on June 20, the Chinese government announced a total of 31 companies subject to EV subsidies but Samsung and LG were not included into the list.
The two companies said they plan to submit applications again. If they fail to get certifications finally, they would not be able to receive subsidies from January 2018.
By Lee Ji-yoon (firstname.lastname@example.org)
Busan loses World Expo 2030 bid
Korea, Japan, China summit likely in early 2024
Yoon orders increased defense of public digital infrastructure