Hyundai Motor has replaced the head of its Chinese operation, as it is having a hard time to restore a grip in the world’s biggest auto market amid a diplomatic spat between the Asian trading partners.
Tao Hung Than been named the new head of Hyundai’s China department replacing Chang Won-shin, Yonhap news agency and other local media outlets reported, mentioning the company.
Tao, who is of Chinese descent, has contributed in Hyundai’s entry to the Chinese market, Yonhap stated.
Hyundai recently suffered a suspension of production in China coming from a supply disruption, contributing to investor issues about the automaker’s progress in China.
It published its smallest quarterly profit in 5 years for the quarter ending in June.
South Korean companies are weathering a Chinese reaction over the nation’s decision to deploy the THAAD U.S. missile defense system to counter dangers from nuclear-armed North Korea. China says the system poses a threat to its nationwide security.
