South Korea to help auto industry ride out coronavirus

The coronavirus pandemic has led to shutdowns at auto factories and dealerships in the United States and Europe, which are expected to affect South Korean automakers such as Hyundai Motor Co and Kia Motors Corp.

SEOUL: South Korea said on Monday it would provide logistical and financial support to help the auto industry through the coronavirus crisis, warning of disruptions to supply chains from Europe and the United States.

The government said it would speed up customs clearance, arrange freight transportation and provide liquidity support for the industry which employs about 12% of South Korea’s workforce, according to official figures.