Hyundai Wia Stops Exports of Strategic Materials to Iran

      May 03, 2011 11:58

      Hyundai Wia, a subsidiary of Hyundai-Kia Automotive Group producing auto parts and machine tools, has stopped exports to Iran of some products classified as "strategic materials" by the Ministry of Knowledge Economy, it said Monday.

      Hyundai Wia president Lheem Heung-soo told reporters, "We found that some products including 'horizontal machining center,' a precision measuring tool, were delivered to Iran via an agent in Turkey. We stopped transactions with the Turkish agent under our group's policy" for fear of such products being used in Iran's missile program.

      "We've never exported machine tools directly to Iran," he claimed, adding the company will continue to export non-strategic materials such as auto parts to the country.

      Earlier, WikiLeaks disclosed a U.S. State Department diplomatic cable from 2009 saying AK Makina, a Turkish mechanical company, imported numerical control machine tools from Hyundai Wia, which it then exported to Iran. The U.S. pointed out to the Korean government that they could be used for Iran's missile development.

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