(Renault Samsung Motors Corp.)
Renault Samsung Motors Corp. said Thursday it will suspend its sole plant in South Korea until mid-October to control inventories amid the COVID-19 pandemic.
Renault Samsung will halt the operation of the Busan plant, 450 kilometers southeast of Seoul, from Friday through Oct. 18, a company spokesman said over the phone.
"The plant will be suspended for 11 working days as the Chuseok holiday falls on Sept. 30 and lasts through Oct. 5 for carmakers," he said.
The company and its labor union are in wage and collective agreement talks for the year of 2020.
From January to August, Renault Samsung's sales plunged 27 percent to 84,158 vehicles from 114,705 units in the year-ago period.
The company's current passenger car lineup includes the all-electric SM3 ZE sedan, the SM6 sedan, the XM3 SUV and the QM6 SUV.
Renault holds an 81 percent stake in Renault Samsung. (Yonhap)