SOUTH KOREA: Turkish PM visits Hyundai Motor and looks to more bilateral industrial cooperation
Turkish Prime Minister Recep Tayyip Erdogan has visited Hyundai Motor Co.'s main production plant in the southern industrial city of Ulsan, the Korea Herald reports.
On the last day of his state visit to Korea, he and an entourage of 200 Turkish officials and economic delegates toured the assembly lines and export shipping dock at the Ulsan plant, which is capable of rolling out 1.57 million vehicles annually.
Before the visit, Erdogan and Chung Mong-koo, the carmaker's chairman, held a luncheon meeting to promote cooperation among the two nations' automotive industry, Hyundai said.
"I expect Hyundai Motor to play a pivotal role for the economic development of Korea and Turkey and promote economic and cultural relationship between the two allies," Hyundai quoted Erdogan from the meeting.
In July 1997, Hyundai launched Hyundai Asan Otomotive Sanayi, a 50-50 joint venture with Turkey's Kibar Holding Group. The plant is capable of producing 60,000 units of the Accent compact sedan, the Starex minivan and the H1 light commercial vehicle.
Hyundai sold 38,953 vehicles in Turkey last year and aims to sell 61,000 units this year.