AutomotiveBusiness & FinanceEconomy
10 February 2023, 7:33 pm. 1 minute
Reuters exclusively reported that 33 members of Congress are urging the U.S. Labor Secretary to seek strong and swift penalties against those responsible for child labor in automotive plants. A recent Reuters investigation found children as young as 12 working in Alabama factories that make parts for Hyundai Motor Co and Kia Corp. Reuters also previously reported that state and federal authorities were investigating as many as ten suppliers for potential child labor violations.
Market Impact
One of the suppliers, SMART Alabama LLC, is directly owned by Hyundai (005380.KS), Korea’s largest automaker and the biggest factory employer in Alabama. Hyundai and Kia (000270.KS), which assembles its U.S.-made vehicles in Georgia, rely heavily on deliveries of auto parts from an extensive network of mostly Korean-owned manufacturing plants in the region.
Article Tags
Topics of Interest: AutomotiveBusiness & FinanceEconomy
Type: Reuters Best
Sectors: Business & FinanceIndustrial Goods & Manufacturing
Regions: Americas
Countries: US
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
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