Beijing Mayor Meets with Hyundai Leader

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Last updated at: (Beijing Time) Thursday, November 07, 2002

Beijing Mayor Meets with Hyundai Leader

The city of Beijing hopes to accelerate the development of its automobile industry through cooperation with Hyundai & Kia of the Republic of Korea (ROK), said Beijing Mayor Liu Qi Wednesday.

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The city of Beijing hopes to accelerate the development of its automobile industry through cooperation with Hyundai & Kia of the Republic of Korea (ROK), said Beijing Mayor Liu Qi Wednesday.

Liu was referring to a 50-50 joint venture deal on car production signed in October of 2001 between the Beijing Automotive Industry Holding Co. and ROK's Hyundai Motor Co.

In his meeting with Park Byung Jae, vice-chairman of the Hyundai Motor Company & Kia Motors Corporation, Liu said the Beijing municipal government will grant full support to the Beijing-Hyundai joint venture, which plans to make its first batchof 2,000 Hyundai Sonata cars by the end of this year.

Beijing hopes that the project will be a win-win opportunity and further boost the growth of modern manufacturing in the Chinese capital, Liu said.

Park vowed to bring cutting-edge automotive technologies to China and pledged to go in for all-round cooperation with Beijing.

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