Chung Eui-sun, executive vice-chairman of Hyundai Motor Co, discussing development of future vehicles at the automaker's research and development centre in Hwaseong, South Korea, last week. Hyundai is preparing to take full ownership of one of its joint ventures in China. Photo: EPA-EFE via Yonhap

U-turn: China is letting Hyundai buy out a joint carmaking venture

  • The rare action comes as Beijing has pledged to provide fairer competition for foreign corporations in the Chinese market
  • South Korean companies have been leaving the country, with Samsung closing its last mobile phone production line in China last month
Topic |   China economy

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Chung Eui-sun, executive vice-chairman of Hyundai Motor Co, discussing development of future vehicles at the automaker's research and development centre in Hwaseong, South Korea, last week. Hyundai is preparing to take full ownership of one of its joint ventures in China. Photo: EPA-EFE via Yonhap
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