SOUTH KOREA: Hyundai Motor looking for 8% sales growth in 2003
Hyundai Motor is looking for an 8% increase to sales and a 22.5% increase in investment spending in 2003, according to a Reuters report. A Hyundai spokesman told Reuters sales would rise to 27 trillion won ($US21.6 billion) next year from an estimated 25 trillion won in 2002. The Reuters report describes the targets as part of a 'draft' plan. Under the draft, Hyundai Motor plans to allocate around two trillion won for its investment plans, including 1.35 trillion won for research and development (R&D). The remaining 650 billion won would be spent on expanding production lines according to the Reuters report.
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