S. Korea's global businesses close overseas factories over COVID-19 pandemic
- 4 years ago
삼성전자 공장 4분의 1 멈춰,… 현대기아차, 한중 공장 뺴면 올스톱
The speed at which South Korean conglomerates are shutting down their overseas operations is accelerating as the coronavirus pandemic grips all four corners of the world.
Samsung Electronics has already closed its plants in India, Brazil, Europe and Russia.
That accounts for a quarter of the company's manufacturing output.
LG Electronics has closed six of its 41 factories in the U.S., India and Brazil.
South Korean automakers Hyundai Motor and Kia Motors are also in a tight spot.
Hyundai Motor has shut six of its seven global manufacturing plants.
Kia Motors has unstable operations for four out of its five.
POSCO, the country's biggest steelmaker, has powered down four of its overseas steel processing centers in Italy, India, the Philippines and Malaysia.
The speed at which South Korean conglomerates are shutting down their overseas operations is accelerating as the coronavirus pandemic grips all four corners of the world.
Samsung Electronics has already closed its plants in India, Brazil, Europe and Russia.
That accounts for a quarter of the company's manufacturing output.
LG Electronics has closed six of its 41 factories in the U.S., India and Brazil.
South Korean automakers Hyundai Motor and Kia Motors are also in a tight spot.
Hyundai Motor has shut six of its seven global manufacturing plants.
Kia Motors has unstable operations for four out of its five.
POSCO, the country's biggest steelmaker, has powered down four of its overseas steel processing centers in Italy, India, the Philippines and Malaysia.