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In a related move, Nissan and Honda have also signed a separate memorandum of understanding with Mitsubishi Motors—34% owned by Nissan—to create a framework for vehicle electrification. This expanded cooperation aims to leverage their collective expertise to accelerate the transition to electric vehicles (EVs), a sector crucial for the future of automotive manufacturing.
Major car manufacturers, including Tesla, General Motors, Volkswagen, and Toyota, are under fire after a Human Rights Watch report raised concerns about their potential use of aluminium produced with forced labour in China's Xinjiang region.
Xinjiang, a region in northwest China, has unveiled plans to embark on large-scale electric vehicle (EV) production with a strategic focus on capturing Central Asian markets.
From the globally influential energy sector to the resilient real estate market, robust automotive industry, mineral wealth, and agricultural advancements, each sector contributes significantly to the nation's economic vibrancy and diversification.
From technological advancements in automotive manufacturing to the resilience of tourism, explore the diverse sectors shaping South Korea's economic landscape.