SOUTH KOREA: Hyundai poised to set up in Myanmar
Hyundai Motor Company is poised to move into the Myanmar market to tap what is understood to be enormous growth potential, according to media reports.
The automaker plans to supply cars by partnering with local Myanmar distribution agencies and is considering setting up a local unit later.
Newspapers in Seoul reported that Hyundai was talking with local dealership Diamond Star because the Myanmar government prohibits direct imports of cars but allows government-approved agents to bring cars in.
Hyundai plans to use Diamond Star as its official dealer in the country which has growth potential comparable to that of nearby Thailand, one of Asia's largest car markets.
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