Most Popular
-
1
Slew of top K-pop stars ready to return from military
-
2
S. Korea, US clinch 2026-30 defense cost-sharing deal in pre-election push
-
3
N. Korean leader's sister derides Seoul's Hyunmoo-5 missile as 'useless'
-
4
Controversial cult leader’s sentence reduced to 17 years
-
5
Military aircraft evacuating S. Koreans in Lebanon returns home
-
6
Concerns raised over chronic labor shortage at state-run center for digital sex crime victims
-
7
BTS-themed moon jar to be unveiled on Hangeul Day
-
8
Samsung, Hyundai chiefs to accompany Yoon on Singapore trip
-
9
1,430 minors investigated for drug offenses from 2018 to 2023: police
-
10
[Robert Fouser] Why the US election looks so close
![[Robert Fouser] Why the US election looks so close](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/10/03/20241003050201_0.jpg&u=)
![[Robert Fouser] Why the US election looks so close](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/10/03/20241003050201_0.jpg&u=)
Whirlpool may expand safeguard petition to vacuum cleaners: research
By YonhapPublished : Oct. 29, 2017 - 10:03
New research warned Sunday that Whirlpool Corp. may expand its safeguard petition against South Korean rivals to include vacuum cleaners.
Acting on a petition submitted by Whirlpool, the US International Trade Commission determined earlier in October that imports of large residential washing machines built overseas by Samsung Electronics Co. and LG Electronics Inc. were damaging the local industry.
A report published by the Korea Electronics Association said Whirlpool may request the US authorities also investigate imported vacuum cleaners, a product which is a crucial source of profit for the company.
Acting on a petition submitted by Whirlpool, the US International Trade Commission determined earlier in October that imports of large residential washing machines built overseas by Samsung Electronics Co. and LG Electronics Inc. were damaging the local industry.
A report published by the Korea Electronics Association said Whirlpool may request the US authorities also investigate imported vacuum cleaners, a product which is a crucial source of profit for the company.
The home appliances giant takes up 25 percent of the US market. It produces 570,000 units annually, accounting for more than half of US-produced vacuum cleaners.
Whirlpool's washers account for around 5 percent and 2 percent of the global and local markets, respectively.
The report urged Korean firms to closely watch Whirlpool's move and recommended they consider acquiring US producers to avoid potential trade disputes, taking a cue from China-based Haier Group's purchase of General Electronics' home appliances business. (Yonhap)
