Hyundai Motor Resumes Car Production at Ulsan Plant as Sit-in Continues
Stock Chart for Hyundai Motor Co (005380)
Hyundai Motor Co., South Korea’s largest carmaker, resumed production at its factory in Ulsan today as a sit-in protest by temporary workers continued.
Production at the plant, southeast of Seoul, stopped Nov. 15 with the striking workers demanding they be made permanent employees, according to the company. The halt has stopped the manufacturing of 23,937 passenger cars worth 270 billion won ($238 million) as of Dec. 4, Hyundai said in an e- mailed statement today.
The automaker, based in Seoul, has rerouted production at the plant to avoid the striking workers, enabling it to resume production at 50 percent of full capacity, it said.
Hyundai fell 2.2 percent to 180,000 won as of 10:41 a.m. in Seoul trading. The shares have risen 49 percent in 2010.
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