Банкеръ Weekly

Briefs

HYUNDAI PLANS TO ASSEMBLE CARS IN BULGARIA

South Korea's Hyundai is interested in investing in Bulgaria, Mong-Koo Chung, Chairman of Hyundai Motor Company, said in front of journalists during his recent visit to Bulgaria on the invitation of Deputy Premier and Minister of Economy Nikolai Vassilev. Mr. Chung heads a Korean business delegation of 19 members.The Ministry of Economy announced that Hyundai plans to assemble cars in Bulgaria. The company owns a plant in Izmir, Turkey, which assembles about 50,000 cars annually. In addition to the concrete opportunities for direct investments in Bulgaria, Mr. Chung and Mr. Vassilev discussed the imporvement of bilateral relations and Bulgaris's support for Korea' candidacy to host the international exhibition EXPO 2010.South Korea is Asia's biggest investor in Bulgaria and the 15th biggest foreign investor here. Korean investments total USD59.8MN, mainly in hotels and office buildings.

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