Luxel, Business Registration Cancellation Leads to Suspension of Operations
[Asia Economy Reporter Minji Lee] Luxel announced on the 5th that it has been suspended from business since April 16 due to the cancellation of its business registration.
The company stated, "On March 31, to improve our financial structure, we sold the factory land and buildings owned by the company to Samsung Smart Housing," and added, "To ensure the normal operation of the factory, we signed a lease agreement with Samsung Smart Housing and are in the process of applying for the cancellation of the business suspension order."
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The company also added, "We plan to resume production activities after consultations with partner companies such as automobile manufacturers while monitoring the progress of the novel coronavirus infection (COVID-19)."
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