POSCO

MNCs in the News-2019-01-04

Foreign companies remain cautious about increasing their foreign direct investment (FDI) in China because of the risk of trade war escalation. Multinational corporations (MNCs) in China worry not only about trade war’s impact on sales, but pressures to relocate their factories. China’s National People’s Congress reviews draft law than seems to more aggressively protect foreign investor interests than a previous version. Survey reveals US businesses finding trade war leading them to face increased Chinese non-tariff barriers. China’s State-owned Assets Supervision and Administration Commission and the Chinese Academy of Social Science have produced a report that central State-owned enterprises (SOEs) are delivering equal employment benefits to Chinese and locals. Attorneys representing former South Korean forced laborers for Nippon Steel & Sumitomo Metal file for the seizure of Nippon Steel assets in Korea. South Korean government will tighten rules on the acquisition of Korean companies by foreign firms to limit technology leaks. Seoul to designate OLED equipment and chemical sector as “national core technologies” to gain influence over their sale and export.

MNCs in the News-2017-07-28

The China Banking Regulatory Commission moves to allow foreign banks to purchase Chinese lenders through a locally incorporated subsidiary. Analysis claims China is cracking down on acquisitive private actors, so-called “Grey Rhinos,” because of risks they pose to the Chinese economy. The United Kingdom is moving to tighten its foreign investment regime partly to deal with investors like China which have been investing in sensitive areas. Toyota to produce electric vehicles in Thailand to take advantage of various economic incentives. Consortium led by government sponsored Innovation Network Corp. of Japan announces final bid for Toshiba's flash memory division. South Korea following up on USD $10 billion infrastructure development deal with India. Recent data reveals Korean companies increased spending on US lobbying after inauguration of US President Donald Trump. Indonesian Investment Coordinating Board says Singapore remains largest investor in Indonesia, with Chinese investment increasing in both quantity and quality. Thailand’s Board of Investment confident overall applications for investment privileges will reach target of USD $18 billion in 2017. Malaysia’s Second Finance Minister states country has some well-run government-linked companies and rebuts concerns about Chinese investment. Two Japanese and seven Chinese state-owned enterprises bid for Bandar Malaysia project. Vietnam Steel Association proposes limiting foreign investment to certain kinds of steel projects.

MNCs in the News-2017-05-12

Germany’s top financial regulator generically welcomes Chinese investment in Germany’s financial sector. Tokyo and Beijing discuss bilateral economic relations and cooperation, as Japan fears potential spillover of China’s economic problems. India’s Finance Minister invites Japanese companies and financial institutions to engage in India’s “Made in India” initiative. POSCO and SeAH Steel join growing list of Korean multinationals joining American Chamber of Commerce Korea. Malaysian federal government’s support increases Johor’s appeal as a foreign direct investment (FDI) destination. Failure of Chinese bailout deal fuels speculation about future of Chinese investments in Malaysia. Formosa accelerates investment in USD $11.03 billion integrated steel mill project in Vietnam. Vietnam’s Prime Minister meets with Hong Kong delegation to promote infrastructure investment in Vietnam.

MNCs in the News-2016-03-04

According to China’s Ministry of Commerce, China plans to “lower entry barriers for foreign investors.” MOFCOM representatives also indicate that “China will support foreign participation in its drive to reform state owned enterprises (SOEs).” Foreign Ambassadors present letter to China’s Ministry of Public Security to express their anxieties about China’s new counterterrorism law, draft security law, and draft law on the management of foreign non-government organizations. Qualcomm reaches settlement with U.S. Securities and Exchange Commission regarding allegations of improperly hiring the relatives of Chinese officials and giving lavish gifts. According to news reports, in contrast to its battles with the US FBI, Apple is showing great flexibility towards the Chinese government. Three members of the US Congress ask for increased scrutiny of Zoomlion’s purchase of US Terex Corp. Problems caused by increased scrutiny of Chinese outward investments led to deals with unusual termination fees and deal terms. Massive Chinese state-owned enterprise investments in Europe fuel concerns. Olympus Corp. will pay the US Justice Department a $623 million fine due to kickback payments and its giving of luxurious gifts. Korean government-business delegation journeys to Iran and concludes numerous deals. A South Korean wins Bolivian deal to build a new city in Bolivia. Indonesia plans to set up a “China Desk” to better Chinese investors. Vietnam shows substantial increases of FDI during the first two months of 2016. Vietnam needs to provide more information to solve problems of foreign investors.

MNCs in the News-2015-03-06

China’s draft counterterrorism law raises substantial concern among foreign companies. Foreign technology firms struggle to determine best way to defend their interests in China. Deputy Commissioner of State Intellectual Property Office (SIPO) asserts China’s intellectual property laws are not used to discriminate against foreign technology businesses. Premier Li Keqiang proclaims China will significantly revise Foreign Investment Catalog to reduce foreign investment restrictions. American Chamber of Commerce in Shanghai report indicates costs and operating challenges most concern foreign firms in China. Alibaba confronts penalties in Taiwan. Connecticut’s Attorney General investigates Lenovo’s pre-loading of Superfish software. Japan works to limit the power of Google. Japan moves to facilitate foreign investment with one-stop office. South Korean business and government leaders push multi-dimensional opportunities between the two countries. POSCO partners with Saudi Arabia sovereign wealth fund about possible automobile joint venture in Saudi Arabia.