Hyundai to be No.1 in Many Fields

Hyundai is predicted to be No.1 in many fields owing to its acquisition of Kia and Asia Motors. The new ownership of Kia and Asia Motors will influence sales in relevant industries including general trading, shipping, insurance, and advertising.
Hyundai Corp. plans to receive two billion dollars worth of orders from Kia thereby confirming its No.1 ranking in general trading. Hyundai ranked second with a total 15.6 billion dollars in export sales, just behind the 16.5 billion dollars Samsung Group posted. Hyundai forecasted that it will surpass Samsung with Kia's orders. But LG, Haitai, SK, and Japan's Itotsu are in danger of terminating contracts they have to export Kia vehicles.
Hyundai Shipping also looks to be first in its field. Hyundai is predicted to rise to the second-ranked automobile shipping company in the world if it receives 80% of Kia's total exports. Kia currently transports half of its vehicles through the Swedish shipping company, NOSAC, worth 70 million to 80 million dollars a year. A source at Hyundai said, 'We can secure more stability in our business circumstances through Kia's orders. In an emergency situation such as labor strikes in Hyundai Motor Co damage could be mitigated.'
A similar phenomenon could occur in the insurance sector. Hyundai Fire and Marine Insurance may receive most of Kia orders. A source at Hyundai Insurance said, 'If we sell insurance to 30,000 people among 50,000 at Kia, we can gain 15 billion won in sales.'