Hyundai Vice Chairman Chung to attend plant opening in China
SEOUL-- Hyundai Motor Co. Vice Chairman Chung Eui-sun will attend a plant opening event in China this week amid declining sales in the world's biggest automobile market, the company said Tuesday.
Chung is set to be present at the Chongqing assembly line in southwest China on Wednesday, the carmaker said. The company's fifth Chinese plant is scheduled to start operations in the second half, a company spokesman said.
He didn't provide the plant's capacity or other details as the company will release the relevant information at the ceremony.
On the sidelines, Chung is expected to check Hyundai's local sales networks and seek cooperation from local officials in an effort to revive declining sales in the neighboring country.
Hyundai has suffered sharp declines in sales this year after China moved to ban the sale of group travel packages to South Korea from March 15 and penalized sales of goods and services. Beijing has opposed the deployment of an advanced U.S. anti-missile system in South Korea, saying it could be used against it.
In the January-May period, Hyundai's sales plunged 37 percent to 266,228 vehicles from 425,561 units a year earlier, according to the company.
Source: Yonhap News Agency