Hyundai Motor to close Ulsan forging plants

Hyundai Motor's production facilities in Ulsan [YONHAP]

Hyundai Motor, Korea's leading car maker, has decided to end operations of its parts forging plants in Ulsan, according to industry sources Thursday.

The company plans to end operations of two forging plants in Ulsan, about 300 kilometers (186 miles) southeast of Seoul, with one closing in January and another in October, the sources said.

The facilities, used in making engine parts by hammering or pressing metals into required forms, have been in use for 32 years since 1991.

Hyundai Motor is considering redeploying personnel and infrastructure at the plants.

According to a company official, Hyundai is reviewing outsourcing some of the small-scale engine components that have been produced at the facilities. Yonhap