Ssangyong Motor, an SUV specialist and South Korea’s smallest automaker, will shut down its plant for almost three weeks this summer because of slow demand for the fuel-guzzling vehicles, union officials said.
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Both management and union at the Chinese-owned carmaker have agreed to the shutdown from 31 July to 17 August at the plant in Pyeongtaek, south of Seoul, the officials told Agence France-Presse.
Workers will get 70% of their regular pay during the shutdown during which the paint shop will be refurbished.
AFP noted that Shanghai Automotive Industry Corp-owned Ssangyong was the only automaker among the country’s five to report a fall in vehicle sales last month. Its June sales plunged 67% year on year to 1,902 units.
Ssangyong is shifting its focus to sedans and plans to introduce five such models by the end of 2010, the report added.
