KIA prepares a production strikeApril 14, 2020
KIA is going to close a significant part of its production at home in South Korea.
The reason for this is a decrease in demand from major export markets. Although the situation with coronavirus in South Korea is well controlled, this does not mean that the local auto industry remains untouched. Indeed, Kia and Hyundai export an important part of their home products to markets where social life has largely subsided. They notice this in terms of exports: European and American markets are now hit hard by the effects of the corona crisis.
Reuters reports that the South Korean union is preparing its employees to temporarily stop production at three of their plants. Hyundai has already discontinued Tucson production domestically this week. Although it is said that the plan for temporary suspension of work has been approved by the unions, it is expected that this will happen. Over the past month and a half, exports of cars and parts from South Korea have declined by almost a third.
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