Hyundai-Kia Automotive Group has said it will invest almost $US1bn or 935bn won in its domestic plants by the end of next year. The investment will be used to build new plants as well as improve existing facilities.

A third of the total will be used to increase capacity at Hyundai, including a new plant to produce buses and other specialised vehicles. 77bn won will be used to produce new models, including the BH luxury sedan.
The company said it will also invest 85.8bn won in developing follow-up models of the Tuscani and Equus.

Kia will receive almost 400bn won of investment. This will mostly be used in continuing the plant expansion projects that began in 2004, including the expansion of Kia's engine production unit in Hwaseong in Gyeonggi Province. 141bn won will allocated to developing three new models for the Kia brand.