Top Hyundai management calls for ‘special support’ to Turkey

Ali Kibar, the head of Kibar Holding, Hyundai’s partnering company in Turkey for the last 26 years, elaborated on details of a high-level meeting with their partners after the July 15 coup attempt in Turkey. 

“One of the hottest agenda topics of the top Hyundai management was Turkey in their first meeting after the failed coup attempt in our country. They have asked for a special and exclusive support to Turkey from their partners and subsidiaries so as not to see any obstruction in the company’s production and export activities in Turkey. They also said that they were ready to help when needed,” said Kibar, adding that Hyundai chair and CEO Mong Koo Chung and vice chair Eui Sun Shung were present at that meeting. 

Kibar Holding and Hyundai Assan chair Kibar noted that the company will renew the model, which is produced in Turkey, by the end of this year for an additional $20 million in investment, adding that this amount will likely increase. 

He added that Kibar Holding planned to make $150 million of investments in other fields.