This is Mr Chung’s second visit to India after his first visit in 2010 when he accompanied the South Korean President who was Chief Guest at the Republic Day Parade in Delhi.
In India he will be visiting the Hyundai plant in Sriperumbudur on the outskirts of Chennai which has a capacity of 630,000 units per year both for domestic sales and exports, but which had dropped down last year due to global slowdown. Chung will be checking on production and sales activities of the company. He will also be holding meeting with top executives of the company to recognise their dedication and commitment to the company while also urging them to expand the company’s footprint across the country. He will be taken to various production facilities where the Santro Eon, i10 and i20 are produced.
Apart from this, it is also believed that the Chief might be here to have talks with government heads of shortlisted states, over the set up of their second manufacturing plant in India. At the rate Indian auto industry is growing, and Hyundai’s plans to further expand their portfolio and increase market share, it is only a matter of time before they would need a second plant in India. Experts believe that there might be some big announcements post his visit.
The itinerary of Chung’s visit to India during the five day Chuseok holidays will be followed by a trip to Turkey, where Hyundai has a plant in Izmit. Turkey’s Izmit plant has become one of its main bases of production of small cars sold in Europe. This plant has the capacity to produce 200,000 units per annum and is from where the Hyundai i10 and i20 are produced while the new i20 will enter production in October.