Is Hyundai considering a return to Russia?

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Is Hyundai considering a return to Russia?

Published: 19 Nov. 2025, 18:54

SARAH CHEA
[email protected]

Audio report: written by reporters, read by AI

Hyundai Motor's St. Petersburg plant in Russia, which it sold to Russia's Art-Finance for 10,000 rubles, or $120, included a two-year buyback option. [HYUNDAI MOTOR]

Hyundai Motor has registered a number of trademarks in Russia, signaling a potential return to the market two years after its dirt-cheap sell-off and exit prompted by the war with Ukraine.

Russia’s state-owned RIA Novosti reported that the Russian Federal Service for Intellectual Property database shows Hyundai Motor has registered trademarks — including the Hyundai logo — beginning this month and extending through 2034.

It comes roughly one month before the deadline for Hyundai to repurchase its Russian factory. In December 2023, Hyundai sold its entire stake in its St. Petersburg plant to Russian company Art Finance, marking its exit from the Russian market.

The deal size was about 10,000 rubles ($120) but included a two-year buyback option, leaving open the possibility for the automaker to repurchase the facility within two years after the initial sale.

Hyundai Motor denied the speculation, adding that the trademark registration is “not a preliminary step aimed at entering a specific country, but rather part of Hyundai’s routine efforts to maintain brand rights globally.”

However, Russia remains an attractive market for Hyundai Motor, as its car sales volume reached 1.57 million units last year. Before the war, in 2021, Korea’s car exports to Russia accounted for 25.5 percent of Korea's total exports to the country. In terms of sales within Russia, Kia ranked second with 205,801 units in 2021, right behind Russian manufacturer Lada, which sold 350,714 units. Hyundai Motor was third with 171,811 units, according to the Korea International Trade Association.

But following the exit of Western automakers, Chinese brands quickly filled the void, raising their share of the Russian market to 60.4 percent as of 2024.

“The potential outcomes of a re-entry could vary significantly depending on the timing and approach,” said researcher Lee Seo-hyun from the Korea Automotive Technology Institute.

“Beyond the decision of whether to return, companies need to develop strategies tailored to different scenarios, particularly considering high-cost and highly regulated environments, such as joint ventures or contract manufacturing,” Lee added. “It is also essential to carefully assess the timing of re-entry and the scope of collaboration with Russian firms based on the company’s specific circumstances.”

BY SARAH CHEA [[email protected]]