April 25, 2024

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[THE INVESTOR] Hyundai Motor Vice Chairman Chung Eui-sun will give a presentation at the global unveiling event of much-touted Kona compact SUV on June 13, according to media reports on June 2. 

Chung will take the center stage to introduce the new car as it makes debut at the Hyundai Motor Studio in Goyang, Gyeonggi Province. 

Chung‘s presentation highlights the automaker’s all-out efforts to enter the highly competitive yet burgeoning compact SUV segment with Kona. 

Hyundai has pinned high hopes on its first-ever subcompact SUV to recoup its recent sales slump at home and abroad. 

Kona is based on the i30 platform, with the design derived from Intrado concept car unveiled at the Geneva Auto Show in 2014. Following its Korean launch, Kona will make inroads into the US and European countries. 

The new entry will face fierce competition in the small SUV segment currently led by three big sellers -- SsangYong Motor’s Tivoli, Kia’s Niro and Renault Samsung’s QM3. Last year, 107,000 compact SUVs were sold in the local market, with the top seller Tivoli selling 28,886 units. 

Hyundai’s smaller affiliate Kia Motors is also planning to release the new Stonic compact SUV in July.

By Ahn Sung-mi (sahn@heraldcorp.com)