South Korean conglomerate Hyundai Group will open up a regional headquarters in Singapore, calling Southeast Asia an “irresistible emerging market”. Hyundai is investing US$9.9 million in the operation to “power trade expansion” into the region.

Although the company already has established branch offices in major ASEAN capitals, the Singapore office will act as a ‘command center’ to coordinate efforts in the region. The new headquarters will finance Hyundai Corporation’s Southeast Asian investments, as well as supply local demands for chemical products, steel and petroleum.

Hyundai Corporation has sought out more business opportunities overseas since new Chairman Chung Mong-hyuk took over in January. The company will also open a new headquarters in Shanghai to capitalize on the Chinese market, and the Chairman himself is currently touring Ukraine and Southeast Asia to get a first-hand feel of the landscape.

source & article: MK