Renault Executive to See Strike-Hit Busan Plant: Economic Daily
The Busan plant builds cars mainly for the local market, but a growing proportion are exported, according to Renault’s website.
(Bloomberg) -- A senior Renault SA executive will visit the company’s strike-hit plant in Busan, South Korea, this month and may again warn of output cuts if labor action continues at the French carmaker’s biggest production site in Asia, the Korea Economic Daily said, citing unidentified people in the industry.
Jose Vincente de los Mozos, acting deputy chief executive officer at Renault, went to the factory last year to urge the union to end a strike, and said the company would respond with a cut in output volume, according to the report.
Renault Samsung Motors -- 80.1% owned by Renault and 19.9% by Samsung Card Co. -- reportedly shut down part of the Busan plant on Friday because of industrial action. The strike, which began late December, has cost the company about 110 billion won ($95 million), media reports said, citing the firm.
The Busan plant builds cars mainly for the local market, but a growing proportion are exported, according to Renault’s website. The Korean business had 2,082 employees at the end of December 2018.
To contact the reporter on this story: Kanga Kong in Seoul at kkong50@bloomberg.net
To contact the editors responsible for this story: Shamim Adam at sadam2@bloomberg.net, Stanley James, James Poole
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