Cuban officials visit Hyundai
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A Cuban trade delegation is in South Korea touring three Hyundai
subsidiaries, the Korean Times reported.
According to Korean foreign ministry officials, the visit was requested
by Cuba.
The agenda of the five-day trip includes meetings with Korean
government officials and the Korea Trade-Investment Promotion Agency
(KOTRA), and visits at Hyundai Engineering & Construction, automobile
manufacturer Hyundai Motor, and automotive component manufacturer Hyundai
Mobis.
Hyundai Engineering & Construction specializes in the construction
of oil- and gas-related industrial plants, power and desalination plants. In an
ambitious, partly Chinese-financed plan, Cuba and Venezuela are jointly
developing the island’s refining and petrochemical infrastructure.
The four-member Cuban delegation in Korea is led by Noel Vázquez Pérez,
director general in the Ministry of Foreign Trade and Investment, and includes
state company executives. The two countries have had no diplomatic relations
since Cuba broke off with South Korea in 1959 and established close links with
North Korea instead. Even so, KOTRA opened an office in Havana in 2005.
Bilateral trade amounts to some $300 million a year; one of the biggest South
Korean players in Cuba has been Ulsan-based Hyundai Heavy Industries Co.
Ltd., which sold hundreds of millions of dollars worth of packaged power
stations to the island since 2005. Hyundai fuel-oil generators are not only
running in Cuba, but Cuban and Korean engineers have installed them in
Venezuela, Ecuador and Nicaragua as well.
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