Kia Motors said it has suspended all exports to Iran since August in response to recent trade sanctions imposed by the South Korean government on the Islamic state.
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South Korea has joined most other major global economies in imposing trade restrictions in compliance with the United Nations Security Council’s efforts to limit Iran’s ability to develop nuclear weapons.
Kia is a major player in the Iranian automotive market, with the Kia Pride sub-compact accounting for around a third of total cars on the country’s roads, according to the company. It exported 17,040 CKD kits to Iran last year, as well as 4,210 CBU vehicles and substantial volumes of replacement parts.
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