Hyundai’s top man shot down rumors of his company building a new factory in the U.S. “We have no plan for a new U.S. factory for now,” Hyundai’s Chairman Chung Mong-koo told Reuters at Seoul’s Gimpo airport before leaving for the United States.
Rumors started flying when South Korea’s Financial News said that Kia is talking to Georgia state officials about constructing a new plant. These rumors were denied. Last week, Chung rekindled the flames by saying that Hyundai “will look into whether there are opportunities” to expand production overseas.
Chung is expected to visit Hyundai and Kia’s U.S. plants in Alabama and Georgia during his visit, which coincides with South Korean President Park Geun-hye’s U.S. trip.