Will Hyundai Motor return to Russia?

Hyundai Motor’s latest move to register multiple trademarks in Russia is rekindling speculation that the carmaker may soon resume its business there. According to reports from Russia’s news agency, RIA Novosti, the Korean carmaker has registered trademarks, such as its corporate logo, which will be valid through 2034. This enables the carmaker to produce and sell various automobiles and auto parts there, according to the report. The company suspended its Russian operations in December 2023, selling its St. Petersburg factory for approximately $95 (140,000 won). The deal included a buyback option, allowing Hyundai to repurchase the plant within two years of the sale. At that time, Hyundai Motor decided to withdraw its Russian business amid the escalating war between Russia and Ukraine. The carmaker struggled to secure a stable supply of key auto parts due to the conflict and decided to suspend operations at the plant in March 2022. Hyundai Motor, however, denied the rumor that the carmaker’s return to Russia looks imminent. “The registration of trademarks cannot be seen as a preparWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times