Hyundai shuts down factory in South Korea as worker tests positive for coronavirus
By MYBRANDBOOK
In South Korea's southeastern city of Ulsan, Hyundai Motor worker has tested positive for the coronavirus. It leads to a suspension of production at one of its factories. Ulsan is less than an hour from Daegu, the epicentre of the outbreak in Korea.
Shares of the automaker dropped more than 5% after the news, while the wider market was down 2.6%. The closing deals a fresh setback to Hyundai Motor, which has gradually resumed production at local plants hit by a Chinese parts shortage in the wake of the virus outbreak.
Outside China, South Korea has the most infected people affecting companies like Samsung and Hyundai. South Korea on Friday reported 256 new cases, bringing the total number of infected to 2,022. Hyundai operates five car factories in Ulsan, which has an annual production capacity of 1.4 million vehicles, or nearly 30% of Hyundai's global production. Hyundai employs 34,000 workers there in the world's biggest car complex.
Hyundai Motor said in a release, "The Company has also placed colleagues who came in close contact with the infected employee in self-quarantine and taken steps to have them tested for possible infection." The factory that was shut down produces sport utility vehicles such as Palisade, Tucson, Santa Fe and Genesis GV80.
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