You are here: Home » International » News » Companies
Business Standard

Fatal incident halts Hyundai's South Korean factory after retooling

Hyundai Motor Group Chairman Euisun Chung expressed deep condolences in a New Year's message on Monday

Topics
Hyundai | South Korea | automobile industry

Reuters  |  SEOUL 

Hyundai
Hyundai | Representational image | File

Production at Motor's factory in Ulsan, South Korea, was halted on Monday after a worker died in an accident, shortly after the plant was refitted to manufacture a new electric vehicle, a labour ministry official and union officials said.

The subcontracting worker, from a firm that routinely did maintenance work at the factory, died at a pressing facility at the Ulsan 1 plant on Sunday, union officials said.

Motor Group Chairman Euisun Chung expressed deep condolences in a New Year's message on Monday, saying the company would make every effort to create a safe environment and prevent safety accidents.

Operations at the factory have been halted as the Ministry of Employment and Labor investigates the incident, the ministry official said, declining to comment further as the investigation has not concluded.

Although production could resume soon, it was unclear when that might happen, a union official said.

A Motor spokesperson confirmed production at the plant had been halted due to the incident.

The plant had just been shut for two weeks to prepare for production of the Ioniq 5 electric vehicle (EV), the union officials told Reuters.

Shares of Hyundai Motor, as well as those of its battery and parts suppliers, rallied on Monday on hopes for its new EVs, including the Ioniq 5.

Ioniq 5 is set to be Hyundai's first model using a new EV-only platform, part of Hyundai and sister company Kia Motors' push to become major players in the global EV market.

The automakers together aim to sell 1 million EVs in 2025 to become the world's third-largest seller of EVs.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, January 04 2021. 14:52 IST
RECOMMENDED FOR YOU
.