South Korea's largest automaker Hyundai Motor said July 20 it had stopped exporting cars due to lost production estimated at around $1 billion caused by an ongoing labor strike.
Hyundai Motor suspended shipments of 81,000 cars in all to North America, Europe, Asia and the Middle East, the equivalent of about 20 days of exports, the company said.
Hyundai Motor's 40,000 workers have been on a partial strike since June 26, demanding a 9.1% rise in pay and better working conditions.
"We have some stores of cars at overseas outlets and there won't be any immediate delay in delivery but if this strike goes on, overseas customers may have to wait longer for their cars," spokesman Jake Jang said.
Copyright Agence France-Presse, 2006
