July 11, 2017 12:03
Hyundai and affiliate Kia have formed a 100-strong task force to look for ways to overcome slumping car sales in China.
Hyundai said Monday that the task force consist of staff from research and development and marketing.
"We have a lot of task forces, including one handling the building of our new headquarters [in Samseong-dong], but a 100-member task force is unprecedented," a staffer said. "That's how seriously we are taking the crisis in China."
Hyundai and Kia have fallen victim to an unofficial Chinese boycott of Korean business over the stationing of a THAAD anti-missile battery from the U.S. here, and sales have plunged by some 40 percent.
A separate task force was formed early this year to plan the launch of the premium Genesis brand there. But the new one will focus on R&D and marketing strategies to win back Chinese customers.
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