South Korea’s auto exports fall

Seoul, April 8 (IANS) South Korea’s automobile exports fell in March as top automaker Hyundai Motor and its affiliate Kia Motors shortened working hours of their employees under an agreement with labour unions, a government report showed Monday.

Automobile exports by the country’s five automakers declined 16 percent from a year earlier to 258,067 units in March, according to the Ministry of Trade, Industry and Energy (MOTIE).

For the first three months of this year, car exports slid 8.9 percent from a year before, reported Xinhua.

The fall came after Hyundai and Kia shortened working hours by three hours per day starting March under an agreement with labour unions. The nation’s top two carmakers did not carry out extra works on weekends last month, the form of which the management and labour unions are negotiating.

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