Hyundai to halt South Korea output as virus disrupts China parts supply

“Hyundai and Kia may be more affected as they tend to import more parts from China than other global automakers,” said Lee Hang-koo, senior researcher at the Korea Institute for Industrial Economics & Trade.“South Korean parts makers followed and built their own facilities along with Hyundai,” Lee said.

Most of Hyundai’s South Korean factories will be fully idled from Feb. 7, while some production lines are expected to restart on Feb. 11 or Feb. 12, a union official said, declining to be identified given the sensitivity of the matter.The move follows a shortage of wiring harnesses which Hyundai sources mainly in China, industry officials said.

Hyundai has seven factories in South Korea, catering to 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

I am glad that I sold my share portfolio off yesterday.

Time to move your supply chain out of China.

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