In St. Petersburg, a meeting was held between students of the Educational Center of the Korean Language and Culture of the Institute. King Sejong with the director of the purchasing department of Hyundai Motor Chon Hyun-chul, during which he announced the desire of the South Korean giant to continue working in Russia. This does not mean that the company is about to return to the Russian market, but work in this direction, apparently, is underway.

According to Fontanka, a Hyundai top manager said that his company is now looking for options for cooperation with the Ministry of Industry and Trade and the government of St. Petersburg, where the main Hyundai Motor enterprise (Sestroretsk) is located. It assembled cars until the spring of last year, produced 200 thousand cars a year (Hyundai Solaris, Hyundai Creta and Kia Rio). In autumn, news appeared about the conservation of the plant and the upcoming layoffs. Now the enterprise operates in a limited mode, it produces parts for servicing cars sold in Russia.

In addition to the plant in Sestroretsk, Hyundai also has production facilities in Shushary, which were previously owned by General Motors. The situation with this enterprise is still unclear. There are rumors that an educational center will be created in its place or sold to Astana Motors, which owns the Hyundai Trans Kazakhstan assembly plant in Almaty.

Source: Trash Box

Meagan

I’m Meagan Diaz, a news writer and author at World Stock Market. My main focus is on technology and stock market trends, and I’m passionate about helping readers stay informed on the ever-changing landscape. I bring extensive knowledge of the industry to my work as well as a knack for storytelling that makes my articles both accessible and engaging.