Lock&Lock Halts Anseong Industrial Complex Operations..."Efficiency Improvement and Cost Reduction"

Lock&Lock announced on the 6th that it will suspend operations at its Anseong factory.

Last year, the sales revenue of the Anseong factory was 67.97073 billion KRW. This accounts for 13% of Lock&Lock's consolidated sales revenue.

The reason for the production suspension is to improve production efficiency and reduce costs. Production will continue at domestic subcontractors as well as the company's own production facilities in Vietnam and China. The company stated, "As production will continue at domestic subcontractors and our own production facilities in Vietnam and China, we expect no operational impact due to the suspension of production."