Korean carmakers slash production

Five Korean automakers have been cutting production as the recession bites, closing plants for a certain period of time, as well as shortening regular working hours and operating days. Renault Samsung said it will shorten operating days from five to four a week beginning early December, and completely suspend operations between December 24 and January 1, following a similar decision by GM Daewoo. Hyundai Motor said it would cut four hours each from the eight-hour day shift and eight-hour night shift at its Ulsan plant no. 2. Ssangyong Motor will set its next year production goal at 80,000 to 90,000 cars, just one-third of their previous capacity. (December 3, 2008)