Renault Samsung to suspend plant operations due to low demand
Renault Samsung Motors Corp. may suspend the operation of its sole plant in South Korea for three to four days next month due to lower demand triggered by the COVID-19 pandemic.
The suspension would be done after the Chuseok holiday, which starts on Sept. 30 and lasts through Oct. 5.
The company intends to control inventories amid weak sales.
Renault Samsung and its labor union are in wage and collective agreement talks for the year 2020.
Renault Samsung's sales from January to August plummeted 27 percent to 84,158 vehicles from 114,705 units n the same period last year.
The company's car lineup includes the XM3 SUV, QM6 SUV, all-electric SM3 Z.E. sedan, and SM6 sedan.
Groupe Renault owns an 81 percent share in Renault Samsung.