South Korean authorities have taken swift action following a deadly fire at a lithium battery factory in Hwaseong. Officials on Wednesday ordered the immediate suspension of operations at Aricell, the company at the center of the tragic incident that claimed 23 lives earlier this week.
The labor ministry announced the shutdown of Aricell’s sole manufacturing facility, citing the need for a thorough inspection. This decision comes as part of a broader investigation into suspected safety violations at the company.Â
While Aricell’s CEO Park Soon-kwan has claimed compliance with all safety regulations, authorities are probing deeper. Police have already conducted raids on the company’s offices, seeking evidence of potential negligence or code violations.
Three Aricell officials are currently under investigation, though their identities have not been disclosed.
The devastating blaze, which rapidly engulfed the factory on Monday, has been described as one of South Korea’s worst industrial accidents in recent years. Officials say that the facility, which housed 35,000 lithium batteries, became a death trap as toxic smoke reportedly incapacitated workers within seconds.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
