“Hyundai Motor Co” Leaves the Russian Market

by Meifan Honcharuk
Friday, April 28, 2023
“Hyundai Motor Co” Leaves the Russian Market

South Korean corporation sells its assets to a Kazakh company

"Hyundai Motor Co" is in the final stages of selling its assets in Russia and leaving the market of the aggressor country. All documents are ready and only confirmation of the Russian government is expected. Probably, the situation is being dragged out by Putin's law on foreign assets, which blocks processes and robs businessmen in Russia.

"It is true that sales discussions are ongoing, but nothing has been decided yet," Hyundai Motor.

In October 2022, Hyundai Motor announced its readiness to cease operations in Russia, and in March 2023, they announced the upcoming exit.

Today Hyundai Motor and its subsidiary Kia Corp are one of the largest car manufacturers in the world. The participation of these companies in Russia was 4% of its total capacity, annually producing about 200.000 cars.

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