Hyundai Motor may import foreign cars

In a bid to prevent trade conflicts with the United States in the automobile sector, Hyundai Motor may be used as a channel for importing foreign cars. According to the Federation of Korean Industries (FKI), Deputy Prime Minister and Finance and Economy Minister Jin Nyum met with Korean reporters in Tokyo Monday and said there is a danger of trade conflicts erupting between Korea and the United States over automobile imports.

``To prevent such a situation, talks are under way on ways to have Hyundai Motor import foreign vehicles and rent them to domestic taxi companies,`` Jin said. Jin is currently in Tokyo to participate in the 34th Pacific Basin Economic Council (PBEC).

Jin said that he discussed the plan with Hyundai Motor President Lee Kye-Ahn, who is also attending the PBEC meeting, and that Hyundai Motor is expected to unveil a detailed plan this month.

The government believes that if Hyundai Motor imports foreign cars, including those manufactured by its joint-venture partner DaimlerChrysler, it will also positively affect the efforts of domestic automakers to advance into the U.S. market.

Park Won-Jae parkwj@donga.com