South Korea's automobile sector is suffering a direct hit from the coronavirus outbreak, facing facing a shutdown of some plant operations.

SsangYong Motor has decided to suspend work at its factory in Pyeongtaek for about a week starting from February 4, as stockpiles of Chinese components are running low. 

Hyundai Motor and Kia Motors have also adjusted their pace of production due to supply chain disruptions and will soon decide whether to suspend some of their lines.

The Chinese government has extended factory closures in an effort to contain the spread of the new virus. A prolonged outbreak is feared to deal a heavy blow to Korean automakers, which depend heavily on China for auto part supplies, as well as others around the globe. 

The Beijing government extended the Lunar New Year holiday through this past weekend while provincial authorities have pushed back off-days for companies until this coming weekend in an effort to prevent further spread of the virus.