Having faced mandatory ‘shut down’ during the months-long strictly clamped lockdown in India, Korean companies now suffer operational hurdles after India rolls out Unlock in phases and allows business activities to bring its economy back on its feet.
Already reeling under the Coronavirus pandemic-induced adverse global market scenario, the Korean companies in the manufacturing sector are unable to resume production for the want of the crucial components and raw material supply as their shipments are stuck for months at the seaports, airports and Inland Container Depots (ICDs) because of bureaucratic hurdles and manpower shortage issues.
Resultantly, the Korean companies were forced to pay excessive demurrage charges running in lakhs and crores of rupees. Read more...
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