SEOUL May 6 Hyundai Motor Group Chairman Chung
Mong-koo said on Monday that the South Korean automaker has no
plan to build a new car factory in the United States for now,
downplaying market speculation that he would soon announce new
production facilities in the key market.
"We have no plan (for a new U.S. factory) for now," the
75-year-old told reporters at Seoul's Gimpo airport before
leaving for the United States.
Hyundai Motor Group is a holding company for Hyundai Motor
Co and KIA Motors Corp.
Chung, who has so far ruled out a major capacity expansion,
last week said the company "will look into whether there are
opportunities" to expand production overseas, sparking
speculation that the automaker may build a new plant in the
United States, among other regions.