Yonhap: Hyundai may return to Russia by the end of 2025

South Korean automobile company Hyundai may return to Russia by the end of the year due to the rapid progress in negotiations on the Ukrainian conflict. This was reported by Yonhap news agency on February 14.

"The recent re-registration of the Hyundai trademark by Hyundai with the Russian Federal Intellectual Property Service is also in favor of such a forecast, as under the terms of the buyback the company must make a decision to buy back the plant by December this year," the publication reported.

The publication also notes that in case of successful negotiations Hyundai Motor Company will not be easy to return to the old place, as Chinese brands are taking their places.

Samsung Electronics and LG Electronics are also acutely aware of the possibility of lifting sanctions on Russia. Before the military conflict, Russia imported most of its home appliances from South Korea and Europe. However, imports from China and Turkey have increased due to the sanctions, while the share of Korean companies has dropped significantly.

"Accordingly, even if sanctions are lifted after the end of the conflict, it will not be easy for Korean companies to regain their former market share in Russia," the publication concludes.

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The former plant of the South Korean concern Hyundai in St. Petersburg, acquired by the Russian company Art Finance, was renamed "Automobile Plant AGR" in early 2024. During the year, the enterprise produced almost 22 thousand cars. According to the company's internal assessment, the brand ranked third in the market in the sedan class.