April 20, 2024

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This year, however, the company has opted to focus on responding to changes in various markets on-location.

The move is thought to be part of the group’s austerity measures including a 10 percent cut in executives’ pay introduced in response to dropping sales and other adverse conditions.

The company’s domestic market share has dropped to a record low, and overall sales is set to record the first on-year drop.

By Choi He-suk (cheesuk@heraldcorp.com)THE INVESTOR] Hyundai Motor Group has called off its annual training session for overseas-based employees for the first time since the group was founded.

Since 2000, the automotive conglomerate has called in some 900 overseas-based employs each year for training, and to discuss conditions and strategies for various markets.