Despite the slimming of the Korean auto industry, chronic overcapacity is still a major issue. Even so, the heads of the surviving companies are vague and evasive about the need to rationalize to fix the problem.
"It is essential that all car makers cut overcapacity. Without that we will not be able to survive," says Lee Kye-ahn, president of Hyundai. The issue is being addressed by "eliminating some facilities and getting market competitiveness," says Kang …
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