Russian Telecom: "Hyundai Motor Applies for Trademark Registration in Russia Where Factory Was Sold"

Hyundai Motor's Sold Russian Factory
[Image Source=Yonhap News]

Hyundai Motor Company, which withdrew from the Russian market last year, has recently applied for new trademark registrations in Russia, according to a report by the Russian state news agency RIA Novosti on the 28th (local time).

According to the report, a review of the Russian Federal Service for Intellectual Property (Rospatent) database revealed that Hyundai submitted at least 17 trademark registration applications this month related to automobiles, automobile parts, and accessories, including the Genesis brand.

Hyundai sold its 100% stake in its Russian operations, including the Saint Petersburg plant, to the Russian company Art Finance in December last year and exited the Russian market.

Prior to that, Hyundai had suspended operations at its plant from March 2022 due to Western sanctions following Russia's launch of the 'special military operation' in Ukraine in February 2022. Although the terms of the contract were not disclosed, it is known that Hyundai sold the plant for 10,000 rubles (approximately 140,000 KRW at the time) with a buyback clause allowing Hyundai to revive the plant within two years.

Hyundai's move to pursue trademark registrations in Russia, where it has ceased operations, is interpreted as a measure to protect its product model names and other intellectual property. According to current Russian law, trademarks that have not been used by the rights holder for three years may be canceled.