Hyun-Soo Kim

Global Economic News

AS the supply shortage of automotive semiconductors prolongs, carmakers based in South Korea are suspending operations of factories one after another.

SsangYong Motor Co. is suspending automobile production at its Pyeongtaek plant for seven days starting from Thursday last week to Friday this week.

The automaker blamed a shortage of auto semiconductor components and parts for the production suspension. SsangYong Motor was only able to operate its plant for three days in February due to its partner’s refusal to deliver parts.

Hyundai Motor Co. has also been keeping production amount in check by reducing overtime work of factories, and has suspended operation of its Ulsan 1 plant, which produces Hyundai’s Ioniq 5 and Kona models, since Wednesday last week. The suspension will continue until Wednesday this week.

GM Korea Co. has not completely stopped operation of its plant, but has been operating its Bupyeong 2 plant at about 50 percent capacity since February.