Hyundai Motor will suspend production in South Korea because the cor...
Hyundai has built huge production capacity in China over the past two decades.South Korea imported $1.56 billion worth of auto parts from China in 2019, up from $1.47 billion in 2018, trade data shows.Most of Hyundai’s South Korean factories will be fully idled from Feb. 7, with some production lines expected to restart on Feb. 11 or Feb. 12, a union official said, declining to be identified given the sensitivity of the matter.
Hyundai has seven factories in South Korea, catering for the local market and the United States, Europe, Middle East and other markets.FILE PHOTO: A man walks past the logo of Hyundai Motor during the 2019 Seoul Motor Show in Goyang, South Korea, March 28, 2019. REUTERS/Kim Hong-Ji/File Photo The automaker recently turned in its best quarterly profit in more than two years and said it was on track for higher profit margins, aided by increased sales of SUVs.
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