KR Motors manufacturing the motorcycles announced its temporary closure of the company for three months on December 2 last year, citing the sluggish domestic demand for its products.
Facing the strong opposition of KR Motors Trade Union against the company liquidation drive, KR Motors instead came up with a restructuring plan to layoff some 60% to 70% of 110 production line workers.
KR Motors, a subsidiary of KOLAO Holdings, is reportedly planning to move the production lines to China, while closing down most of the motorcycle productions in Korea.
reported by Bae Hye-jeong
translated by Kim Sung-jin