Hyun-soo Kim

Global Economic News

HYUNDAI Motor Co. said Tuesday it plans to temporarily suspend production at its Ulsan No.1 plant in South Korea due to chip and component supply issues from April 7 to 14.

The South Korean automaker said that the supply issues involve front view camera systems for Kona sport utility vehicle (SUV) and power electric modules for the Ioniq 5, Hyundai’s first exclusive electric vehicle.

Hyundai Motor checks its semiconductor inventory on a weekly basis and is directly negotiating with semiconductor makers to secure the quantity of semiconductors for its vehicles.

Although Hyundai Motor has adjusted its production plans, the supplies that have been secured are gradually falling short.