Hyundai considers plant in Vietnam or Indonesia
The Republic of Korea (RoK)’s Hyundai Motor said it is considering building a car plant in Southeast Asia with Indonesia and Vietnam being possible locations.
Hyundai logo (Source: EPA/VNA)Hanoi (VNA) – The Republic of Korea (RoK)’s Hyundai Motor said it is considering building a car plant in Southeast Asia with Indonesia and Vietnam being possible locations.
The intention came from the intense political ties between Beijing and Seoul after the RoK allowed the US to deploy its anti-missile defense system THAAD in the country, hurting Hyundai and other Korean firms that are highly reliant on the Chinese market.
Hyundai expects its China sales to reach about 900,000 vehicles in 2018, a recovery from last year, according to a company spokeswoman.
Hyundai has not disclosed estimates for 2017 China sales but the figure of 900,000 would still be far below its production capacity of 1.65 million vehicles in its biggest market.
The company aims to sell 7.55 million vehicles in 2018 amid sluggish global economic growth that reduces demand in numerous key markets.-VNA
You should also see
Millions of children in Vietnam protected by vaccination over 40 years: UN agencies
Millions of children in Vietnam have been protected by immunisation over the past 40 years, said the World Health Organisation (WHO) and UNICEF offices in Vietnam on April 25 when they mark the World Immunisation Week from April 24-30.
See more
Business
Vietnam Online Business Forum tackles sustainability in e-commerce
The Vietnam Online Business Forum 2024, themed “Sustainable E-Commerce”, kicked off in Hanoi on April 25.
Business
Vietnam-Singapore trade on the rise since start of 2024
Trade between Vietnam and Singapore topped 2.54 billion SGD (1.87 billion USD) in March, rising 4.29% year on year, according to the Trade Office of Vietnam in the city state.
Business
Petrol prices decrease slightly on April 25
The retail prices of petrol were adjusted down from 3pm on April 25 by the Ministry of Industry and Trade and the Ministry of Finance.
Business
Vietnamese canned sugarcane juice favoured in US
The first cases of Vietnamese canned sugarcane juice have hit supermarket shelves in Miami, the US state of Florida.
Business
Labels on foods exported to Singapore must be accurate: Trade counselor
Counsellor Cao Xuan Thang, head of the Vietnam Trade Office in Singapore, has advised Vietnamese exporters to pay attention to labeling pre-packaged food products to ensure their credibility and image of businesses when exporting to the Singaporean market.
