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Hyundai & Kia Look to China for Growth

25 October 2000

     Seoul - Hyundai Motor Company's Chairman, Chung Mong-Roo, met with Chinese
Premier Zhu Rongji on October 22 to discuss his company's investment plans
in China, including plans for an assembly plant to make large commercial
vehicles.  The company's chairman said, "Hyundai Motor will seek active 
participation in China's ten-year West Development projects and increase 
investments accordingly over the coming ten years."

     In addition, Hyundai and Kia Motors also plan to invest $300 million
in a small car joint venture plant in China currently in operation,
expanding annual production to 150,000 units by 2002.  They anticipate
adding new models, including the Rio, to the production line, which is
currently producing the model Pride, a passenger car.

     In July, Hyundai Chairman Chung Mong-Roo announced that Kia and
Hyundai were considering building a plant in North America to begin
assembling cars and trucks by 2004.  In September, Chung hinted that the
southeastern U.S. would be the most likely site to build a 300,000 unit per
year plant because it would then be located near other automakers and
suppliers.  Ahn Byung Mo, head of Kia Motors America confirmed it was a
definite project last week, but there is a senior Hyundai executive at
Seoul headquarters who said neither the location nor the timing is yet firm