Kia suspends exports to Iran
South Korea's Kia Motors said Tuesday it had suspended exports to Iran in response to Seoul's nuclear-related sanctions. "South Korean government sanctions... were part of the decision," Kia spokesman Michael Choo told AFP. Kia's Pride model controls 30-40 percent of all vehicles in Iran, according to the south Korea company. The firm last year exported 4,210 complete vehicles to Iran and 17,040 cars in kit form for local assembly.
According to a survey published Sunday, over 75% of South Korea's small and mid-size exporters have partly or totally discontinued shipments to Iran following Seoul's sanctions.
- Tourism is the real target of the Tunisia attacks: industry set to suffer
- FIFA scandal probe: No deaths in 2022 World Cup construction, Qatar says
- The UAE harnesses the power of celebrity endorsements
- Gazans reach beyond Israeli blockade through start-up
- France is playing a risky dating game in the Gulf: experts