[Special Stock] Hyundai Motor Halts Factory Operations Again Due to COVID-19... Down 2%
[Asia Economy Reporter Song Hwajeong] Hyundai Motor Company is experiencing a decline of over 2% following news that it has once again halted factory operations due to the impact of the novel coronavirus (COVID-19).
As of 11:02 AM on the 18th, Hyundai Motor was trading at 132,000 KRW, down 2.58% (3,500 KRW) from the previous day.
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Hyundai Motor will suspend operations at Ulsan Plant 1 for three days from today until the 20th. Subsequently, Ulsan Plant 2 will also be closed on the 21st. Discussions are underway regarding the suspension of operations at Ulsan Plants 3 and 5 as well. Previously, Hyundai Motor had sequentially halted its factories from the 4th to the 12th and had continued vehicle production while minimizing downtime. Despite the resumption of parts factories in China, supply and demand have not yet returned to normal, leading Hyundai Motor to decide on additional suspensions.
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