Hyundai shuts factory in South Korea due to COVID19, shares fall by 5%


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▴ Hyundai shuts factory in South Korea due to COVID19
Hyundai Motor suspended production at one of its factories in South Korea's Ulsan city after a worker tested positive for coronavirus, shares of the automaker dropped more than 5% after the news.
A Hyundai Motor worker has tested positive for the new coronavirus, leading to a suspension of production at one of its factories in South Korea's southeastern city of Ulsan, the company said on Friday. Shares of the automaker dropped more than 5% after the news, while the wider market was down 2.6%. The closing deals a fresh setback to Hyundai Motor, which has gradually resumed production at local plants hit by a Chinese parts shortage in the wake of the virus outbreak.
South Korea has the most infected people outside China, affecting companies like Samsung and Hyundai. South Korea on Friday reported 256 new cases, bringing the total number of infected to 2,022. A union spokesman confirmed that a worker had tested positive, but he did not have more details.
Tags : #Hyundai #Southkorea #Coronavirus #Sharesfall

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