Hyundai, South Korea govt eye low-cost carmaking JV despite stiff protests

South Korea's Hyundai Motor and a local government partner are aiming to sign a final deal this week on a low-cost carmaking joint venture despite stiff opposition from labour unions who fear the move would cause job losses and cut wages.

In a first such move for Korea's biggest automaker, Hyundai and the southwestern city of Gwangju agreed on Tuesday on a preliminary deal to jointly build a new factory which will have an annual capacity of 100,000 mini-SUVs starting in 2021. The move would help Hyundai produce the model.....

This article is no longer available in our repository.

There could be multiple reasons for this.