A major fire at a component manufacturing plant in the South Korean city of Daejeon, owned by Anjeon Industrial Company, killed 14 people and injured 60 others, destroying large parts of the facility in the process. The plant, located some 130 km some 130 km south of Seoul, specialised in the production of engine valves for vehicles and other applications, including ship engines.
The plant’s main customers were Hyundai Motor and Kia Corporation, which will need to rely on existing inventories of the engine parts until an alternative supplier is secured. The ongoing investigation into the cause of the fire and the extent of the damage means it could take some time before the plant is rebuilt. The plant produced around 70 million engine valves annually before the fire.
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A spokesperson for Hyundai Motor Group (HMG) told reporters: “The company has a certain level of engine valve inventories and will find alternative suppliers to Anjeon Industrial Company to avoid disruptions to planned vehicle production.”
