A spokesman said the move was to adjust lines to manufacture follow-up models of its SM5 and SM3 sedans as well as to help dispose of inventory. -- PHOTO: REUTERS
SEOUL - THE South Korean subsidiary of France's auto giant Renault said on Tuesday it is shutting down its plant temporarily to reduce production amid a sales slump and prepare for new models.
Renault Samsung said all assembly lines at its plant in the southeastern port of Busan will remain idle for eight days from Wednesday to the year-end.
A spokesman said the move was to adjust lines to manufacture follow-up models of its SM5 and SM3 sedans as well as to help dispose of inventory.
Renault Samsung, which was launched in September 2000, has begun cutting production since November by scrapping overtime and reducing the number of working days.
All South Korean automakers, including local leader Hyundai Motor, have taken similar measures due to slow demand at home and abroad.
The smallest, Ssangyong Motor, said Monday it would be unable to pay workers on time this month. It cited a lack of operating funds and of financial support from its Chinese parent the Shanghai Automotive Industry Corp. -- AFP
