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South Korea: Hyundai Motor halts work at factory after worker tests positive for coronavirus

Hyundai Motor (005380.KS) shut down a factory in South Korea on Friday after a worker tested positive for the new coronavirus, disrupting production of popular models such as Palisade sport utility vehicle.

Shares of the automaker ended down more than 5% after the news, while the wider market .KS11 was down 3.3%. The closing dealt a fresh setback to Hyundai Motor, which has gradually resumed production at local plants hit by a Chinese parts shortage in the wake of the virus outbreak.

South Korea has the most infected people outside China, affecting companies like Samsung and Hyundai. South Korea on Friday reported 256 new cases, bringing the total number of infected to 2,022, as the world prepared for a global recession.

“The company has also placed colleagues who came in close contact with the infected employee in self-quarantine and taken steps to have them tested for possible infection,” Hyundai Motor said in a news release.

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