Business · Companies · 14 hrs ago
Hyundai and Kia May Be Studying a Return to Russia
South Korea’s ambassador says Hyundai and Kia may be exploring a return to Russia.
He said the companies appear to be studying the Russian car market, though neither has announced a return.
The conflict in Ukraine is a major obstacle, and the ambassador said returning before it is resolved would be very difficult.
Before 2022, the brands ranked second and third in Russian car sales, behind Lada.
They halted production and deliveries after the conflict began, and Hyundai sold its Russian factories to the AGR group in 2024.
Hyundai lost its right to buy the factories back in January 2026.
A return may depend on improved political conditions and softer sanctions, according to a Russian auto industry analyst.
South Korean ambassador to Russia Lee Sok-bae said Hyundai and Kia may be studying ways to return to the Russian car market.
He said the Ukraine conflict is the main obstacle and a return would be very difficult until it is resolved.
Hyundai and Kia suspended production and deliveries in Russia after the conflict began.
Hyundai sold its Russian factories to the AGR group in 2024 and lost the right to buy them back in January 2026.
Before 2022, Hyundai and Kia were Russia’s second- and third-best-selling car brands, after Lada.
- Who
- Hyundai and Kia may be studying a return, according to South Korean ambassador to Russia Lee Sok-bae.
- What
- The companies may be researching the Russian car market and possible ways to return.
- When
- The ambassador’s remarks were reported on October 14, 2026. The companies’ research dates were not stated.
- Where
- Russia.
- Why
- The Ukraine conflict is the main obstacle to a return, the ambassador said.
This story does not have two clearly opposing sides.
Hyundai and Kia ranked second and third in Russian car sales, after Lada.
Hyundai and Kia suspended production and deliveries in Russia.
Hyundai sold its Russian factories to the AGR group.
Hyundai lost the right to buy back the factories.
Vedomosti reported the South Korean ambassador’s comments that Hyundai and Kia may be studying a return.
- Companies
- Hyundai and Kia
- Possible return market
- Russia
- Main obstacle
- The Ukraine conflict
- Factory sale
- Hyundai sold its Russian factories to the AGR group in 2024
- Buyback right
- Hyundai lost it in January 2026