Samsung

MNCs in the News-2021-May

According to China Ministry of Commerce statistics, China’s utilized foreign direct investment (FDI) over the 1st four months of 2021 showed impressive growth. In a recent report, the British Chamber of Commerce in China highlighted China’s data rules and data flow restrictions as new areas of concern on top of continuing issues like market access and the lack of a level playing field. The China Banking and Insurance Regulatory Commission has given the United States (US)’s Goldman Sachs approval to enter into a wealth management joint venture (JV). In the wake of new data rules and various image problems, Tesla announced the construction of a new data center in Shanghai to store information on gathered on local users and their vehicles. China’s initiation of economic sanctions against various European Union (EU) officials in response to EU sanctions against China has raised questions about whether or not the ratification process for the EU-China Comprehensive Agreement on Investment will move forward. China’s Landbridge rejected concerns that its 99-year lease of Australia’s Darwin port presents any kind of a national security threat. A Japanese Liberal Democratic Party group investigating methods to enhance Japan’s economic security has proposed the creation of a public-private body to develop solutions for public policy issues like supply chain resiliency. An official Chinese media piece warned various prominent Japanese apparel companies’ decisions to stop using Xinjiang cotton might cause them to lose business in China. Japanese export restrictions against South Korea are driving Japanese semiconductor material companies to increase their activities and in South Korea as a way to circumvent Tokyo’s economic sanctions. During Korean President Moon Jae-in’s summit with US President Joseph Biden, Korean companies proposed massive investments in manufacturing plants

MNCs in the News-2021-April

Tesla’s road in China becomes bumpier. China’s China Securities Regulatory Commission (CSRC) accepts application from France’s BNP Paribas to set up securities firm in China. China’s foreign direct investment (FDI) in and lending to Africa switch from a focus on energy to minerals which also has implications for the countries that it targets. China’s Ministry of Commerce reports that non-financial outward FDI (OFDI) in the first quarter of 2021 grew 4.6 percent over the same period in 2020, with solid growth in OFDI to Belt and Road Initiative (BRI) countries. Japan’s Line works to improve disclosures and employee data handling practices in the wake of revelations employees at an affiliate in China accessed some of its users’ data. Major investment by Tencent subsidiary in Japan’s Rakuten draws regulatory attention due to concerns about the leak of personal information and technology from the latter to the former. Korea Fair Trade Commission (KFTC) imposes fine on Apple Korea due to Apple Korea actions that disrupted a KFTC investigation of Apple Korea’s abuse of its market dominance. Korean actors move to organize lawsuit against Facebook which has been found by Korean regulators to have violated Korean law by sharing user data without consent. Korea’s Samsung and Hyundai Motor reportedly prepare big proposals for FDI in the US prior to upcoming summit between Korean President Moon and US President Biden. SK Innovation pays $1.8 billion to LG Energy Solutions to settle a dispute between the two firms relating to the former’s theft of electric battery trade secrets from the latter.

MNCs in the News-2020-03-13

China’s State Council identifies measures to encourage greater foreign direct investment (FDI) into China. Shanghai continues to attract inward FDI and seeks to reach new heights in 2020. China’s TikTok to establish center in United States (US) to assuage worries that user data is being transmitted back to China. US Treasury Secretary Steven Mnuchin tells US Congressional committee that the US is working with the International Monetary Fund and World Bank to ensure their funds are not used to repay Belt and Road Initiative debts. Japan will not allow investors filing applications under its new FDI review system to submit notice online or in English. Japanese Ministry of Finance data shows Japan’s overseas investment earnings rose steadily in January 2019, offsetting deficits in other areas. Hyundai Heavy Industries’ acquisition of Daewoo Shipbuilding & Marine Engineering encountered another obstacle with the European Commission delaying its decision on the merger until the summer. Korea’s Samsung facing hindrances to its efforts to boost production at some of its Vietnam factories due to Vietnam’s restrictions on Korean travelers resulting from the coronavirus.

MNCs in the News-2020-03-06

China assures foreign investors measures to “help firms resume operations and restore supply chains” disrupted by the coronavirus epidemic will treat “foreign and domestic companies equally.” Foreign intellectual property filings (invention patents and trademarks) in China show respectable growth in 2019 over the prior year due to legal, regulatory, and processing improvements. Beijing Kunlun on the verge of fulfilling United States (US) Committee on Foreign Investment in the United States (CFIUS) to sell Grindr. CFIUS reportedly has advised US President Donald Trump to block German firm Infineon, who counts China as a major client, planned purchase of Cypress Semiconductor. Japan’s Council on Investment in the Future contemplating ways to protect the economy from supply chains disruption in China caused by the coronavirus epidemic. The Japan Institute for Overseas Investment has concluded a Memorandum of Understanding with Zambia to join a network to facilitate FDI flows to Zambia. Korea Communication Commission develops arbitration proposal that might serve as a template for resolving conflicts between content providers and service providers. Vietnam to quarantine all visitors from South Korea potentially hindering Korean companies that are becoming increasingly prominent investors there.

MNCs in the News-2020-02-21

China’s Ministry of Commerce reports that inward foreign direct investment (FDI) in January reflected a small increase over the same period last year, with South Korea’s inward FDI (IFDI) surging and IFDI in medical equipment and instrumentation showing strong increases. Foreign businesses seem attracted by the Greater Bay Area’s promise of market opportunities and ongoing market liberalization, though policy, legal, and regulatory barriers still deter/concern some. The coronavirus’s adverse effect on the movement of goods within and outside China has affected some Belt and Road Initiative projects. Chinese contractors in Indonesia reject foreign media reports coronavirus has had a significant adverse impact on the Jakarta-Bandung high-speed rail project. Japan issues new rules relating to FDI screening in the wake of the passage of its Foreign Exchange and Foreign Trade Act. Japan’s Shimizu and Indonesian state-owned enterprise form joint venture to extend Jakarta’s mass transit system. Korea’s LG Chem wins default judgement from United States (US) International Trade Commission regarding its lawsuit against SK Innovation for violating its electric vehicle rechargeable battery trade secrets. Korea’s Samsung faces Iranian retaliation for restricting Galaxy stores app services to Iranian users.

MNCs in the News-2019-11-22

China’s National Development and Reform Commission (NDRC) and Ministry of Commerce (MOFCOM) issues new negative list for market access. Despite trade war with United States (US) and slowing economic growth, China witnesses solid inward foreign direct investment (FDI) flows for 1st 10th months of 2019. FDI in China’s insurance sector shows notable developments in 2019. All-China Federation of Returned Overseas Chinese encourages overseas Chinese businesspeople to get involvement in China’s Belt and Road Initiative (BRI). Japan’s Diet passes new investment law that tighten review criteria for inward FDI. Japanese firms may not see worse repercussions from Japan-South Korea political frictions. South Korea Fair Trade Commission (FTC) to create special task force to examine potential unfair business practices by domestic and foreign technology companies. Korea will leverage Korea-ASEAN 2019 Smart City Fair to promote Korean business involvement in smart city development.

MNCs in the News-2019-10-25

China’s draft implementing foreign direct investment (FDI) law regulations draw generally positive comments from key foreign industry associations. Senior China National Development and Reform Commission (NDRC) official touts his country’s progress in enhancing the enforcement of intellectual property rights (IPR). Senior United States (US) senators ask for review of TikTok for potential counterintelligence risks as well as censorship. Tanzania revamps terms of USD $10 billion Bagamoyo port project for China Merchants Holdings International. Brexit and slow growth prospects in Japan lead Japan’s Hitachi to pursue opportunities in the US and Thailand. Japan’s Uniqlo pulls commercial airing in Korea that seemed to mock victims of wartime forced labor as well as comfort women. Iraq’s Port Authority awards South Korea’s Daewoo contract for prefabrication yard that is part of its Al Faw new port project. South Korean firms both suffer and gain from US restrictions against Huawei.

MNCs in the News-2019-07-05

Chinese Premier Li Keqiang announces China plans to create a better environment for foreign direct investment (FDI) in China. China’s financial opening leads various foreign investors to move to take control of their China joint ventures (JVs). Chinese outbound mergers and acquisitions (M&A) volume for the first six months of 2019 is the lowest since 2013. During a visit to China, Turkey’s President works to attract Chinese FDI and take advantage of the Belt and Road Initiative (BRI). With the activities of information technology giants gaining increased Japanese government scrutiny, the Japan unit of Facebook joins Keidanren. Japan’s export curbs on semiconductor materials bound for South Korea due to their dispute over forced labor compensation could pressure Samsung and the broader Korean economy. Japanese export controls on high-tech materials and chemicals used in South Korean semiconductor and smartphone manufacturing will stress Korean companies already feeling market and trade pressures. After a gathering between United States (US) President Donald Trump and the heads of major South Korean business groups, some Korean firms stated they would boost their US investments.

MNCs in the News-2018-11-02

Shanghai moves to make life easier for foreign direct investment (FDI) as anxieties grow that FDI may leave. Germany’s Federation of Germany Industries’ position paper calls for German businesses in China to limit their dependence on China. Australia’s exclusion of firms with government ties from its new 5G network mean no involvement by Huawei, leading to Chinese government criticisms. Chile signs on to China’s Belt and Road Initiative. During an official meeting between Japanese Prime Minister Abe Shinzo and his Indian counterpart Narendra Modi, Tokyo pledged USD $2.8 billion in new loans for seven projects in India including the construction of a high-speed shinkansen system and roads. Recent South Korea Supreme Court ruling that Japan’s Nippon Steel must pay compensation to Korean World War II forced laborers leaves roughly 70 Japanese firms facing similar cases on edge. Samsung pledges to increase its contribution to Vietnam while Vietnam pledges to keep improving business environment for the firm.

MNCs in the News-2018-06-08

China’s Ministry of Commerce (MOFCOM) announces two new negative lists will be put forth by end of June. China’s State Administration of Market Regulation probes foreign chipmakers because of concerns about rising memory chip prices. In response to charges regarding the debt burdens on participant countries flowing from the Belt and Road Initiative (BRI), China’s MOFCOM denies forcing projects on anyone and touts the benefits of its BRI. Development of controversial Chinese development around Sri Lanka’s Hambantota port progresses with selection of planning consultancy. British government and Hitachi agree to begin full-scale negotiations on potential construction of nuclear power plant in Wales after settling on cost sharing. Japan to offer generous loan terms to more businesses in order to reach 2020 target of USD $2.5 billion in infrastructure exports. Philippines authorities in midst of processing four letters of intent from South Korean firms representing potential $4.4 billion in energy investment. Suspicious payments of $2 billion by previous Najib government to China Petroleum Pipeline Bureau under investigation by Malaysian authorities. Indian federal investigators have filed criminal charges against AirAsia India, partly owned by Malaysia’s AirAsia, for “conspiracy” involving bribes to policymakers to change regulations.

Pages