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China’s economy showed further signs of weakness last month, with key data Monday revealing factory output and consumption rising at their weakest pace for around a year.Beijing has struggled to fully reignite the world’s number two economy since the end of the Covid-19 pandemic, with the once-booming property sector mired in a debt crisis and exports facing mounting headwinds.The trends have contributed to a slump in consumer confidence, dragging on activity and threatening leaders’ official growth target for this year of around five percent.Industrial production edged up 5.2 percent year-on-year in August, according to data from the National Bureau of Statistics (NBS), the slowest pace since the same month last year.The figure missed the 5.6 percent growth forecast in a Bloomberg survey of economists.”The activity data point to a further loss of momentum last month,” Zichun Huang, China economist at Capital Economics, wrote in a note.”While some of this reflects temporary weather-related disruptions, underlying growth is clearly sliding, raising pressure on policymakers to step in with additional support,” she said.The NBS also said retail sales climbed 3.4 percent last month — the slowest since November and falling short of the 3.8 percent estimated in the Bloomberg survey.The figure is another sign of China’s protracted spending slump, which has also raised fears of a deflationary spiral weighing down growth.- ‘Soft sentiment’ -China’s vast real estate sector once served as a key driver of economic growth, fuelled by decades of rapid urbanisation and improved living standards.But the industry entered its current downturn in 2020 as the debt of several leading firms soared and major projects stalled.In August, new residential property prices fell year-on-year in 65 out of 70 cities surveyed by the NBS, data also showed.”The property market decline is a key driver behind soft consumer sentiment, which continues to dampen retail sales,” wrote Lynn Song, chief economist for Greater China at ING, in a note.”Sentiment remains soft despite a slew of measures over the past year,” he wrote.Chinese policymakers have since last year taken various steps to encourage spending, including a subsidy scheme for consumer goods and cancellations of certain restrictions on homebuying.But activity is still lacklustre, with data last week showing consumer prices falling in August at their fastest rate in half a year.Urban unemployment ticked up to 5.3 percent last month, a slight increase from 5.2 percent in July, according to NBS data.”Forward signals on the labour market haven’t improved as growing external headwinds cloud the outlook,” wrote Sheana Yue of Oxford Economics.”We estimate that the economy could fall off a cliff in Q4 if the sluggish July and August activity pace is sustained, bringing into focus — once again — the urgent need for stimulus,” she wrote.- ‘Numerous risks’ -NBS chief economist Fu Linghui acknowledged “weak” demand in the domestic economy during a Monday news conference, noting that “some enterprises are facing operational difficulties”.He added that “there is still much instability and uncertainty in the external environment, and (China’s) economic performance still faces numerous risks and challenges”.One of the main challenges facing the economy is the strained relationship between Beijing and Washington as disputes over technology and geopolitics mount.China-US trade tensions have been on a rollercoaster ride in 2025, with both sides slapping escalating tariffs on each other.Officials from the two countries on Sunday kicked off a fresh round of talks in Madrid, where they are set to thrash out disputes over hefty US tariffs and other key issues.

Australia’s ANZ, one of the country’s “big four” banks, has agreed to pay a record fine of Aus$240 million ($159.5 million) over “widespread misconduct”, the financial regulator said Monday.The fine is the largest ever announced by the regulator against a single entity, the Australian Securities and Investments Commission (ASIC) said.ANZ was fined for “acting unconscionably” while managing a $14-billion bond deal with the Australian government.It was also penalised for “failing to respond to hundreds of customer hardship notices”, making false or misleading statements about its savings interest rates and failing to refund fees charged to dead customers.”Time and time again ANZ betrayed the trust of Australians,” Joe Longo, chair of the ASIC, said.”Banks must have the trust of customers and government. This outcome shows an unacceptable disregard for that trust that is critical to the banking system.”ASIC Deputy Chair Sarah Court said: “As one of Australia’s biggest banks, customers trusted ANZ to do the right thing but, even on the basics like paying the correct interest rate, it fell short.” Embattled ANZ, one of four banks that dominate Australia’s financial services industry, announced last week it would cut over 3,500 staff by September next year, part of a restructuring plan it said would cost over Aus$500 million.ANZ Chairman Paul O’Sullivan confirmed that the bank had agreed to the fines, saying “the reality is we made mistakes that have had a significant impact on customers”.”On behalf of ANZ, I apologise and assure our customers we have taken the necessary action, including holding relevant executives accountable,” he said in a statement.CEO Nuno Matos added: “The failings outlined are simply not good enough and they reinforce the case for change”.

The latest entry in Crunchyroll’s “Demon Slayer” anime film series took first place in the North American box office this weekend with a genre-record $70 million debut, industry estimates showed Sunday.”Demon Slayer: Kimetsu No Yaiba — Infinity Castle: Part 1,” the first title in a new trilogy based on the popular manga series, opened to the top spot on US and Canadian screens after already becoming Japan’s third-highest grossing film of all time.”Sony-owned Crunchyroll is moving Japanese anime into the American mainstream,” analyst David A. Gross of Franchise Entertainment Research said, calling the movie’s North American figures “eye-popping.”The film, which continues the story of teen fighter Tanjiro Kamado as he tries to save his demon-transformed sister, soared ahead of the previous anime opening weekend record-holder, the original 1999 “Pokemon.””The Conjuring: Last Rites,” another demon-hunting film, fell to second place with $26.1 million after a monster debut last weekend of $84 million, according to Exhibitor Relations.The Warner Bros. offering once again stars Patrick Wilson and Vera Farmiga as Ed and Lorraine Warren, who this time are doing battle with a demon in a family’s home.In third place was Focus Features’ “Downton Abbey: The Grand Finale,” which debuted to $18.1 million.The film is billed as the last installment, for now, in the hit “Downton Abbey” franchise, which follows an aristocratic British family and their staff as they navigate the changing world of the early 20th century.”The Grand Finale” is the third feature film in the “Downton” universe, which kicked off as a British TV series in 2010 with an ensemble cast including Hugh Bonneville and the late Dame Maggie Smith.”This is an excellent opening for the 3rd episode in a drama series,” Gross said.Meanwhile Lionsgate’s “The Long Walk,” an adaptation of the 1979 Stephen King novel, debuted in fourth place with $11.5 million.The dystopian horror story, starring Cooper Hoffman and David Jonsson, follows an annual competition where young men must keep walking, or be shot and killed.Gross called it a “good opening for a new psychological horror film, but it’s below average for a Stephen King adaptation.”Fifth place was taken by Disney’s “Toy Story,” which was re-released for its 30th anniversary and took in $3.5 million.Rounding out the top 10 were:”Weapons” ($2.7 million)”Hamilton ($2.2 million)”Freakier Friday” ($2.1 million)”Spinal Tap II: The End Continues” ($1.7 million)”The Sound of Music (60th Anniversary)” ($1.5 million)

China and the United States kicked off the latest round of trade talks on Sunday in Madrid, where they are set to thrash out their TikTok dispute and President Donald Trump’s promised hefty tariffs.The Chinese delegation is in the Spanish capital until Wednesday and senior officials, including Vice Premier He Lifeng, will meet with the US delegation led by Treasury Secretary Scott Bessent.The Spanish government said Sunday’s talks got under way at the Palacio de Santa Cruz, the headquarters of the Ministry of Foreign Affairs.Trade tensions between Beijing and Washington have been on a rollercoaster ride in 2025, with both sides slapping escalating tariffs on each other.Tit-for-tat US-China tariffs reached triple digits on both sides at one point this year, snarling supply chains.Washington and Beijing have since reached an agreement to de-escalate tensions, temporarily lowering tariffs to 30 percent on the United States’ side and 10 percent on China’s part.In August, they delayed the threatened reimposition of higher tariffs on each other’s exports for another 90 days — meaning the pause on steeper duties will be in place until November 10.”The Chinese and US delegations convened here on Sunday for talks on economic and trade issues,” China’s official Xinhua news agency said in a report from the Spanish capital.Top leaders from both countries will also discuss their dispute over the TikTok social media platform during the meetings in Madrid.China urged the United States on Friday to address their dispute through dialogue.The deadline for the popular app to find a non-Chinese buyer or be banned in the United States is September 17, after Trump extended it for the third time.A federal law requiring TikTok’s sale or ban on national security grounds was due to take effect the day before Trump’s January inauguration.Beijing’s commerce ministry called on Washington on Friday to “work with China on the basis of mutual respect and equal consultations, to resolve each other’s concerns through dialogue and find a solution to the problem”, according to a statement.- Shaky truce -China launched two investigations into the US semiconductor sector on Saturday. Beijing opened an anti-dumping probe into some IC chips originating from the US, its commerce ministry said in a statement. The ministry also said in a separate statement it will launch an investigation into whether the United States had discriminated against the Chinese chip sector.Senior Chinese trade negotiator Li Chenggang urged “equal dialogue and consultation” between China and the United States after a three-day visit to Washington in August.The US-China trade truce has been an uneasy one, with Washington accusing Beijing of violating their agreement and slow-walking export license approvals for rare earths.China is the world’s leading producer of rare earths, used to make magnets essential to the automotive, electronics and defence industries.Top diplomats and defence chiefs from both nations held back-to-back discussions on Wednesday, which analysts said could mark a step towards a meeting between Trump and Chinese leader Xi Jinping.Trump said in August he expects to visit China this year or shortly afterwards, noting that economic ties between the two countries have improved.

Norway’s sovereign wealth fund said Friday it was excluding French mining company Eramet from its portfolio, citing risks that the company was contributing to human rights violations and environmental damage at a nickel mine in Indonesia.Managed by the country’s central bank Norges Bank and fuelled by its vast energy revenues, the fund is the world’s biggest, with a value of nearly $2 trillion and investments in more than 8,600 companies across the globe.”Norges Bank’s Executive Board has decided to exclude the company Eramet SA due to an unacceptable risk that the company contributes to or is itself responsible for serious environmental damage and gross violations of human rights,” the fund said in a statement.As of June 30, the fund had a 0.44 percent stake in Eramet, valued at around $6.8 million, according to fund data.The decision was made following a recommendation from the fund’s ethics council, which cited “an unacceptable risk that the company is contributing to, or is itself responsible for, severe environmental damage and serious violation of the human rights of uncontacted indigenous people”.Specifically, the council cited “Eramet’s participation in the PT Weda Bay Nickel Joint venture, which is extracting nickel on the island of Halmahera, Indonesia”.The mining would result in the deforestation of rainforest areas and “the loss of critical habitats for endangered and endemic species”, the council said, adding that it also threatened the survival of indigenous people “in voluntary isolation”.Eramet said it “deeply regretted” the fund’s decision.”As a minority shareholder (in Weda Bay Nickel), Eramet strives to promote best practices in mining, environmental stewardship, and social responsibility with its partners, in line with the group’s values and commitment to responsible mining,” it said in a statement.Indonesian authorities told AFP on Friday they had seized nearly 150 hectares (370 acres) of the nickel mine concession that encroached into forest areas without a licence.An AFP investigation earlier this year showed its effects on members of the Hongana Manyawa Indigenous tribe, one of the country’s last isolated hunter-gatherer communities.The community, parts of which remain uncontacted, says the forest they have long relied on for food and shelter is being destroyed by deforestation and environmental degradation linked to the mine.Weda Bay Nickel has denied the allegations and says it is committed to “responsible mining and protecting the environment”.Indigenous rights group Survival International welcomed the fund’s move.”The company is now as toxic as its mining, and we’re calling on all its other shareholders to divest too unless and until there is a no-go zone for the uncontacted Hongana Manyawa people,” Caroline Pearce, director of Survival International, told AFP.

Global stocks on Friday mostly held onto gains made earlier this week on expectations of a cut to US interest rates. Wall Street opened mixed after reaching fresh record highs the previous day as US inflation and jobless claims data cemented expectations that the Federal Reserve will trim borrowing costs at its meeting next week.”Stock markets (are) at record highs on hopes for falling interest rates,” noted Derren Nathan, head of equity research at stockbroker Hargreaves Lansdown.Markets expect the Fed to cut interest rates by a quarter point next week, and make another two cuts of the same size at its two remaining meetings this year.Briefing.com analyst Patrick O’Hare said a lack of buying conviction on Wall Street wasn’t notable, but rather the lack of selling conviction despite reaching new all-time highs which could spark concerns about valuations.”The market is effectively riding the trend until the price action tells it to jump off that ride,” said O’Hare. “That message hasn’t been delivered yet.”European stock markets were steady in afternoon trading, while Asia’s main indices made gains.There were fresh records this week also for the Tokyo and Seoul stock markets, while London on Friday neared a new all-time high.London’s benchmark FTSE 100 rose thanks to a drop in the British pound following data showing the UK economy stalled in July.”While the data underscores the fragile state of the UK economy, sterling weakness and continued strength in energy and financial names are helping the index outperform broader European peers,” said Joshua Mahony, chief market analyst at traders Scope Markets.Hong Kong led the way among Asia’s top stock markets on Friday, closing up more than one percent thanks to a surge of more than five percent in the share price of Alibaba.The e-commerce titan’s New York stock had spiked eight percent Thursday, helped by its latest moves in the artificial intelligence sector.This week saw also more record highs for the price of gold, viewed as a safe haven investment, following escalating tensions over the Israel-Gaza and Russia-Ukraine conflicts.Russia’s central bank on Friday trimmed its key interest rate to 17 percent as the country risks an economic slowdown. The Bank of England is next week widely expected to keep its key rate on hold as elevated UK inflation offsets stagnant growth.The European Central Bank on Thursday held interest rates steady with eurozone inflation under control and trade tensions having eased, even as France’s political crisis presents policymakers with a fresh challenge.- Key figures at around 1330 GMT -New York – Dow: DOWN 0.2 percent at 46,015.94 pointsNew York – S&P 500: DOWN less than 0.1 percent at 6,583.93New York – Nasdaq Composite: UP 0.1 percent at 22,072.28London – FTSE 100: UP 0.3 percent at 9,328.56 Paris – CAC 40: UP 0.1 percent at 7,831.03Frankfurt – DAX: DOWN less than 0.1 percent at 23,693.87Tokyo – Nikkei 225: UP 0.9 percent at 44,768.12 (close)Hong Kong – Hang Seng Index: UP 1.2 percent at 26,388.16 (close)Shanghai – Composite: DOWN 0.1 percent at 3,870.60 (close)Euro/dollar: DOWN at $1.1710 from $1.1732 on ThursdayPound/dollar: DOWN at $1.3540 from $1.3580 Dollar/yen: UP at 147.82 from 147.18 yen Euro/pound: UP at 86.48 pence from 86.43 penceBrent North Sea Crude: UP 1.5 percent at $67.37 per barrelWest Texas Intermediate: UP 1.4 percent at $63.22 per barrelburs-rl/lth

Hundreds of South Korean workers were greeted by applause and tearful relatives Friday when they returned home after being tangled in a US immigration row that cast a shadow over massive Korean investments in the United States.South Koreans made up the majority of the 475 people arrested at a Hyundai-LG battery factory site in the state of Georgia, triggering a delicate effort to resolve the thorny situation between close allies.Officials from South Korea’s government applauded as the 310 workers stepped off the chartered flight at Incheon airport, while some of the workers shouted “freedom” and “I’m back!” at the arrival gate. When the engineers finally appeared, waiting families broke into tears and embraced their loved ones after nearly a week without contact and a roller coaster of emotions.Outside the gate, a large monitor read “Welcome home, fellow Koreans.””The beds and shower facilities were in such poor condition that daily life was unbearable. The food was so bad, I could barely finish a single meal,” an engineer at Hyundai Motors told The Korea Economic Broadcasting of the conditions in US detention.The Georgia raid was the largest single-site operation conducted since US President Donald Trump launched a sweeping immigration crackdown, a top political priority since he returned to office in January.Experts say most of the detained South Korean workers were likely on visas that do not permit hands-on construction work.The result was a delicate episode for Asia’s fourth-largest economy, which maintains multiple plants in the United States and has heeded Washington’s push to onshore manufacturing and boost investment in America.South Korea’s Foreign Minister Cho Hyun told reporters on Friday that he was “deeply pained” by the ordeal.”The return of the workers was unexpectedly delayed by a day,” Cho said. “When I met with Secretary of State Marco Rubio on Wednesday morning, he informed me that President Trump had expressed strong dissatisfaction with how the situation was being handled and ordered a full review of all possible options, which caused the delay.”- Unions urge Washington apologise -He added that the two governments had agreed to establish a working group to create a new visa category for future South Korean investment projects.At the airport, people were seen holding a satirical placard depicting Trump in an immigration officer’s uniform, wearing a gun, alongside the words: “We’re friends, aren’t we?”The Korean Confederation of Trade Unions (KCTU), one of the country’s largest umbrella union groups, called for an apology from Trump and for Seoul to halt US investment plans.”The Trump administration’s excessive mass arrests and detentions were a clear violation of human rights,” it said in a statement sent to AFP.At the Hyundai factory site, construction will now be set back due to labour shortages, Chief Executive Officer Jose Munoz said.”This is going to give us minimum two to three months delay, because now all these people want to get back,” he said.Kim Dong-myung, president of LG Energy Solution, was more circumspect on delays.”We’ll speak on that once we’re fully prepared,” he said, adding, “It’s not as serious as some media reports suggest. We believe it’s manageable.”Many South Korean companies bring their own workforce during project development periods, with industry sources telling AFP it is common practice to use visa workarounds to avoid project delays.LG said it remained committed to its US projects, adding that it was also working to minimise “any business impact resulting from this incident”.

Indonesian authorities have seized a small section of the world’s largest nickel mine for encroaching on forest areas without permission, authorities said Friday.The Weda Bay Nickel concession, which has long been criticised by environmental and Indigenous rights groups for its effects on the surrounding forest, spans 45,000 hectares on Halmahera island.Authorities have now seized nearly 150 hectares that encroached into forest areas without obtaining a licence, Anang Supriatna, spokesman for Indonesia’s attorney general’s office, told AFP.”The taskforce has taken over the area by sealing it, and the land will be returned to the government,” he added.Weda Bay Nickel is a joint venture of Indonesia’s Antam and Singapore-based Strand Minerals, whose shares are divided between French mining giant Eramet and Chinese steel major Tsingshan. In a statement, Eramet said the area seized was “a quarry producing rocks for construction materials and maintenance”, and mining operations were not affected.Weda Bay Nickel said they were working with the authorities to clarify all existing permits.”We remain committed to taking full responsibility for any potential breaches and to implementing corrective actions,” a company statement said.The seizure comes as Indonesia’s government examines potential forestry regulation violations across several industries, including the palm oil and mining sectors.- Criticism over environmental impact -The concession, which says it accounted for 17 percent of global nickel production in 2023, has long been the target of criticism for its environmental impact.An AFP investigation this year showed its impact on members of one of the country’s last isolated hunter-gatherer communities — the Hongana Manyawa Indigenous tribe.The community, parts of which remain uncontacted, says the forest they have long relied on for food and shelter is being destroyed by deforestation and environmental degradation linked to the mine.Weda Bay Nickel denies the allegations and says it is committed to “responsible mining and protecting the environment”.Activists said the seizure was unlikely to change the broader concession’s impact on local communities, and urged the government to turn the seized land over to affected residents.”If the seizure is aimed for the benefit of the people, then the people should be the ones managing it,” Melky Nahar, coordinator of the Mining Advocacy Network environmental group, told AFP. Nickel is central to Indonesia’s growth strategy. It banned ore exports in 2020 to capture more of the value chain. The country is both the world’s largest producer and home to the biggest-known reserves.Mining — dominated by coal and nickel — represented nearly nine percent of its GDP in the first quarter of 2025, government data showed.

Most markets extended gains Friday, tracking record highs across Wall Street, after US inflation and jobs data all but set in stone a Federal Reserve interest rate cut next week.The bullishness that has characterised trade for the past few weeks has ramped up since a series of reports indicating the labour market in the world’s biggest economy was slowing sharply.Adding to that has been relief that a feared spike in inflation caused by US President Donald Trump’s tariffs has not so far emerged, giving the central bank room to loosen monetary policy.And that trend continued Thursday with figures showing August consumer prices rose a little more than the previous month but in line with expectations, while jobless claims hit their highest level in four years.A report last week revealed the economy added just 22,000 jobs in August, while revised data showed job growth was more than 900,000 fewer than previously reported in the year through March.Analysts said the readings mean the Fed will now put most of its focus on supporting the labour market, rather than bringing inflation down to its two percent level. It currently stands at around three percent.”Inflation is not getting closer to the Fed’s target, but… as labour market concerns grow more pressing, fears (that) price pressures will be persistent fade,” said Taylor Nugent, senior economist for markets, at National Australia Bank.”There is nothing to stand in the way of Fed cuts this year.”With all three main indexes on Wall Street hitting new heights, Asia was more than happy to pick up the baton heading into the weekend.Hong Kong led the way, rising more than one percent, helped by a surge of more than five percent in market heavyweight Alibaba.The e-commerce titan’s New York stock had spiked eight percent on Thursday, helped by its latest moves in the artificial intelligence sector including raising US$3.2 billion to boost its AI budget.It also said it would ramp up spending on its core e-commerce business.Seoul and Tokyo extended their record run this week, while Sydney, Taipei, Mumbai, Bangkok and Jakarta were also in the green. There were some losses in Shanghai, Singapore and Manila.London rose even as data showed the UK economy stalled in July, while Frankfurt was also slightly higher and Paris was flat.Traders are keenly awaiting the Fed’s policy meeting next week, with most expecting it to announce a 25-basis-point cut, though there are some rumblings of a 50-point reduction.The post-gathering statement and comments from boss Jerome Powell will be closely watched for clues about its moves for the rest of the year and heading into 2026.”The Fed is seemingly locked in and a done deal. While some may see the risk of potential disappointment if the Fed holds back from delivering a 50-basis-point cut, realistically, the prospects of an oversized 50-point move seems a tall order for the voting committee,” said Pepperstone’s Chris Weston.”The base case is a 25-basis-point cut backed by a commitment to ease further in the meetings ahead.”- Key figures at around 0810 GMT -Tokyo – Nikkei 225: UP 0.9 percent at 44,768.12 (close)Hong Kong – Hang Seng Index: UP 1.2 percent at 26,388.16 (close)Shanghai – Composite: DOWN 0.1 percent at 3,870.60 (close)London – FTSE 100: UP 0.3 percent at 9,322.17 Euro/dollar: UP at $1.1740 from $1.1737 on ThursdayPound/dollar: DOWN at $1.3564 from $1.3580 Dollar/yen: UP at 147.41 from 147.18 yen Euro/pound: UP at 86.55 pence from 86.43 penceWest Texas Intermediate: DOWN 0.7 percent at $61.96 per barrelBrent North Sea Crude: DOWN 0.6 percent at $65.97 per barrelNew York – Dow: UP 1.4 percent at 46,108.00 points (close)

A specially chartered flight carrying hundreds of South Korean workers detained in a US immigration raid last week landed at Incheon International Airport on Friday, AFP reporters saw. South Koreans made up the majority of the 475 people arrested at a Hyundai-LG battery factory site in the state of Georgia, triggering a delicate effort to resolve the thorny situation between close allies.The Korean Air Boeing 747-8I, with more than 310 South Koreans on board, departed from Atlanta and touched down on the runway at South Korea’s main gateway in Incheon.”Everything at Atlanta went smoothly,” a foreign ministry official told AFP on Friday, ahead of the workers’ arrival at around 3:25 pm (0625 GMT).”The plane departed as scheduled with the planned number of passengers.”Asia’s fourth-largest economy maintains multiple plants in the United States, and has heeded Washington’s push to onshore manufacturing and boost investment in America. The Georgia raid was the largest single-site operation conducted since US President Donald Trump launched a sweeping immigration crackdown, a top political priority since he returned to office in January.Experts say most of the detained South Korean workers were likely on visas that do not permit hands-on construction work.At the Incheon airport, people were seen holding a satirical placard depicting President Trump in an ICE uniform, wearing a gun, alongside the words, “We’re friends, aren’t we?”One older man, who was not related to the workers, also staged a protest against the raid, holding a picket that read: “You told us to invest, only to arrest us! Is this how you treat an ally?”President Lee Jae Myung called the raid “bewildering” and noted it could have a chilling effect on future investment. He added that Seoul was negotiating with Washington “to ensure that visa issuance for investment-related purposes operates normally”. At the Hyundai factory site, construction will now be set back due to labour shortages, Chief Executive Officer Jose Munoz said.”This is going to give us minimum two to three months delay, because now all these people want to get back,” he said.”Then you need to see how can you fill those positions. And, for the most part, those people are not in the US.”The Korean Confederation of Trade Unions (KCTU), one of the country’s largest umbrella union groups, called for an apology from Trump and for Seoul to halt US investment plans.”The Trump administration’s excessive mass arrests and detentions were a clear violation of human rights,” it said in a statement sent to AFP.”The KCTU stands in full solidarity with the workers returning today and strongly urges President Trump to issue an official apology and calls for (South Korea’s) suspension of investments in the US.”- Minimise impact -LG Energy Solution — which said 47 of its employees were arrested, along with about 250 people working for its contractor — thanked the Seoul government for its support.Seoul sent a task force and flew in top officials to negotiate, with a focus on ensuring that workers would not suffer repercussions should they seek to re-enter the United States.”We are especially grateful for their exceptional efforts… for their meticulous attention to addressing various concerns, including ensuring no disadvantages upon re-entry,” the firm said in a statement sent to AFP.Images of the workers being chained and handcuffed during the raid caused widespread alarm in South Korea, and Seoul said the government had negotiated to make sure the workers were not handcuffed again as they were repatriated.The raid came less than a month after Trump welcomed Lee to the White House.The site of the raid is a $4.3 billion venture to build a battery cell manufacturing facility in Georgia.Many South Korean companies bring their own workforce during project development periods, with industry sources telling AFP it is common practice to use visa workarounds to avoid project delays.LG said it remained committed to its US projects, adding that it was also working to minimise “any business impact resulting from this incident”.