Shareholder activism appears to be losing steam in Korea, as evidenced by the general meeting of shareholders at several companies this year, contrary to expectations of an uptick in the influence of retail investors on corporate governance.
The South Korean government is carrying out a strategy to boost the price competitiveness of electric vehicles from domestic automakers with a revised EV subsidy policy for this year. It is seen as a response to aggressive pricing strategies of Chinese automakers and models equipped with Chinese batteries, such as the Tesla Model Y, which utilizes cost-efficient lithium iron phosphate batteries from China's CATL.
Korea's new EV policy targets Tesla Model Y, favors Hyundai electrek.co - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from electrek.co Daily Mail and Mail on Sunday newspapers.
Detroit Three's South Korean partners are reportedly getting nervous because of substantial wage increases the UAW demands for U.S. battery plant workers.