Hyundai to invest $16.7B in SKorea

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SEOUL – South Korea’s Hyundai Motor Group said on Thursday it planned to boost domestic investment by 19 percent to a record high of 24.3 trillion won ($16.65 billion) this year to secure future growth even as it grapples with economic and political uncertainties.

Hyundai Motor Group, including Hyundai Motor and Kia Corp., ranks third in global vehicle sales behind Toyota Motor and Volkswagen.

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