According to South Korean media reports, on August 12, a large-scale explosion in Tianjin, China, caused direct, indirect damage to Hyundai, Kia and Ssangyong vehicles.
On the 13th, a major explosion in China's main export port, Tianjin Port, directly caused the destruction of vehicles such as the current Kia Motors, and indirectly caused damage related to the export port. The Chinese version of the Wall Street Journal reported that 4,000 imported vehicles from Hyundai-Kia Motors suffered losses along with other imported cars such as Renault and Volkswagen.
Hyundai-Kia Motors staff said, "We are investigating the damage to the planned loading vehicles around the port. The damaged vehicles can be handled through insurance and there should be no money loss."
The Chinese side is still preventing the explosion from happening again and it is forbidden to approach the scene, so it has not been able to investigate the specific losses.
Tianjin Port can not be used in a short period of time, and the modern logistics company, Grosvenor, has already sought an alternative port, and the export will proceed smoothly.
Ssangyong Motor has not suffered direct losses. Shuanglong Automobile staff said, “We have been exporting through Tianjin and Guangzhou Port. We can only use Guangzhou Port in the short term. There will be no long-term loss.â€
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