“The Chinese economy is facing slower growth and the South Korean economy is still sluggish. So there are difficult business environments going forward.”
– Kim Tae-yun, president of Beijing Hyundai Motor Co.
Hyunda Motor China’s Assembly lines in Beijing, Mainland China. (image courtesy of Hyundai Motor)
BEIJING, Feb. 14 (Korea Bizwire) –The head of Hyundai Motor Co.’s Chinese unit forecast a “difficult” business outlook in China this year as the world’s second-largest economy cools.
Kim Tae-yun, president of Beijing Hyundai Motor Co., made the remarks on Friday as he was elected as chairman of the Korea Chamber of Commerce in China, a lobby for about 6,500 South Korean firms in China, the group said in a statement.
“The Chinese economy is facing slower growth and the South Korean economy is still sluggish. So there are difficult business environments going forward,” Kim was quoted as saying in the statement.
China’s economy grew 7.4 percent last year, plunging to a 24-year low.
Hyundai, Kia and their Chinese joint ventures sold a total of 1,843,354 vehicles in China last year, up 10.3 percent from the previous year.
(Yonhap)
