Hyundai Mobis to Jointly Build Plant in Slovakia With Kia

SEOUL, March 29, 2004; Yonhap News reported that South Korea's Hyundai Mobis, an auto parts arm of the Hyundai Motor Group, said Monday it has decided to build a factory in Slovakia, where its sister company Kia Motors Corp. will be setting up its first European plant.

The move is part of Hyundai Motor Group's attempt to reduce production costs and enhance product quality, a Hyundai Mobis official said.