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South Korea cuts Hyundai Ulsan EV conversion approvals to 12 months

  • South Korea will shorten Hyundai Motor’s Ulsan Plant conversion permitting period.
  • The approval timeline will fall from up to 40 months to within 12 months.
  • The government will allow integrated contracting for electrical and telecommunications construction.

South Korea will shorten the permitting period for Hyundai Motor (005380.KS) to convert its Ulsan Plant to electric vehicle production. Approval timelines will fall from up to 40 months to within 12 months. The government will also allow integrated contracting for electrical and telecommunications construction.

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