In the News: Hyundai pays the price for prestige
Building upon some of my comments in the most recent Automotive News, I see the media and some industry watchers who look solely at the high cost of the land purchase. Frankly, land is pricey in Seoul and Gangnam even more so.... Following the announcement of the deal, the Hyundai Motor Group has disclosed more details one point being that up to 30 sister companies will be tenants spreading ongoing costs across much of the organizations. More significant with new tax laws soon to enacted, the Group will hugely benefit from the land purchase. My perspective has been cultural. In short, the move is a bold statement. They brand will continues to move upward and gain in prestige. More so, in a status based culture like Korea a high profile corporate campus solidified the Group's position within both society and business. Hyundai pays the price for prestige $10 billion land deal brings swift backlash Gabe Nelson Automotive News | September 27, 2014 - Hyundai Moto...
