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Hyundai Motor

SEOUL: South Korea's Hyundai Motor, a subsidiary of Hyundai Group, will spin off commercial vehicle operations producing trucks of more than 2.5 tonnes, the national Yonhap News Agency said on Sunday.

The company said it was also considering separation of smaller vehicle and passenger car operations from the firm, the report said.

Yonhap quoted a company official as saying the move was the first step towards re-organising the production structure after Hyundai took over troubled Kia Motors last March.

Hyundai Motor commands more than 70 percent of the local vehicle market after the takeover.

Meanwhile, the report said commercial vehicle operations of Kia would merge soon with those of Hyundai.-Reuters