Representatives from Hyundai Motor America and Kia Motors America say the April 28 arrest in South Korea of Hyundai Motor Group Chairman Chung Mong-koo on charges of embezzlement is not affecting their business. “We are doing fine, and everything is proceeding as planned. We see no change in our U.S. operations,” an HMA spokesman tells Ward’s. He denies media reports that say Hyundai’s U.S. sales target was slashed for 2006 and that its new Santa Fe cross/utility vehicle has been ...

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