Hyundai Industry, a specialized automotive interior materials company (co-CEOs Kang Hyun-seok and Baek Sang-yeol), announced on the 4th that it recorded consolidated first-quarter sales of 73.1 billion KRW and operating profit of 5.1 billion KRW. This represents a 23% increase in sales and a 118% increase in operating profit compared to the same period last year.
Domestic first-quarter sales were 70.5 billion KRW, and operating profit was 5.2 billion KRW, marking increases of 27% and 117%, respectively, compared to the previous year.
A Hyundai Industry official stated, “The increase in sales of Hyundai Motor’s premium brand Genesis and sports utility vehicles (SUVs) with high added value is believed to have benefited Hyundai Industry as well.”
He added, “Last month, Hyundai Industry secured a factory in Georgia, USA, for the production of electric vehicle interior materials and successfully entered the North American market by securing orders worth 75 million USD. Based on the US factory, we will diversify our client base and overseas portfolio.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
