Russians give award to Hyundai suppliers for coming to countryHyundai Motor’s seven Korean suppliers received an award at the 15th Russian Automotive Forum for successfully entering the country’s auto market, the automaker said yesterday.
According to the company, Hyundai Motor Manufacturing Russia’s seven contractors, including Sungwoo Hitech and Sejong Industrial, were given a Best Market Newcomer prize by Adam Smith Conferences, which sponsors the most prestigious automotive industry forum in Russia. Since 2006, it has awarded companies and people who contributed to Russia’s auto industry each year.
The seven companies created an industrial complex in St. Petersburg 2 kilometers (1.2 miles) away from the Hyundai plant that was built in 2010.
The seven companies had aggregated sales of 380 billion won ($335.1 million) last year and expect a 50 percent increase in their sales in 2012.
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