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The Korean Won's Sharp Rise Complicates Profitability for Hyundai Motor
Korean companies relying heavily on exports are struggling with the strengthening won and drastic measures are necessary to remain competitive in the international market.
Korean companies relying heavily on exports, such as Hyundai Motor, are struggling with the strengthening won. To cope with drastic currency differences, minimize possible losses, and remain competitive in the automotive market, Hyundai must reduce costs by 20 percent during the next 2 years, drop prices in competitive markets and cut 2007 sales targets.read source article