South Korea’s Samsung Electronics Co. is prepping to suspend operations at its TV plant in Slovakia after the European country declared a state of emergency due to the coronavirus outbreak.

Samsung Electronics said on Friday it will close down its TV plant in Slovakia for a week from March 23. But the company’s home appliance plant in Poland and another TV plant in Hungary will operate as normal.

A company official said the decision was made to prevent the spread of COVID-19 and protect employees.

Samsung Electronics’ decision follows Korean carmaker Kia Motors Corp.’ move to shut down its plant in Slovakia for two weeks from March 23.

Samsung Electronics’ shares finished 5.7 percent higher at 45,400 won ($36.48) on Friday in line with the overall Kospi market buoyed by the news that Korea signed a $60 billion worth currency swap credit deal with the United States.

Exports-reliant market and Korean Inc. remain unstable as production and sales prospects have darkened due to the virus pandemic.

By Pulse

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