HPI Likely to Be the Largest Automobile Parts Maker in Korea

Hyundai Precision & Industries (HPI) is likely to become the largest automobile parts specialty manufactures in Korea.
HPI announced on May 11 that it will take over affiliates of Kia Motors, including Kia Heavy Industry, to supply Hyundai and Kia Motors with automobile parts.
Park Jung In, president of HPI, said that HPI plans to begin producing core parts of automobiles, including chassis, from October and to set a sales target of 400 billion won for this year.
The company plans to develop module technology until 2001 and to evolve to become one of the worlds top 10 automobile parts makers by 2003.
To do this, it is making contact with world-famous automobile parts companies to attract investment capital from them.
HPI decided to construct a factory, in which the moduled automobiles parts can be assembled, in Suhsan, South Chungchong Province.
Jangsoo Seo:jsbee@joongang.co.kr