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Amid THAAD fuss, Hyundai, SK selling key assets in China Posted : 2021-05-30 16:45 By Kim Hyun-bin Korean business conglomerates are busy selling off assets in China as a series of events there have negatively impacted their businesses over the past several years. The pandemic and China s economic retaliation against the deployment of a U.S. Terminal High Altitude Area Defense (THAAD) anti-missile system in Korea deployment controversy have led to declining sales and forced Korean companies to restructure their business portfolios in China, industry officials said, Sunday. Hyundai Motor is seeking to sell its first Beijing plant. Hyundai is in talks with the Beijing Shunyi district government to sell its plant, an industry official said. The plant was established in 2002 with an annual production capacity of 300,000 vehicles. It was the start of Hyundai s China endeavors and helped expand the company s market share in the world s largest car market.

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