Hyundai handcuffed

THE arrest and indictment of Hyundai Motor Co chairman Chung Mong Koo has handcuffed strategic planning for the Hyundai and Kia brands, including development of a rear-drive luxury sedan and a luxury 4WD wagon.

"Business is pretty much normal but the chairman’s absence has resulted in the deferral of decisions requiring major investments," a spokesman told Automotive News.

"(People) want to know who they should follow, whose vision it will be. Should they undo (Chung’s) projects? No one wants to think of that alternative."