South Korea's Halla Group Makes Investment in Turkey

South Korean logistics, automotive and construction company Halla Group and Istanbul Chamber of Commerce have launched a company that will enable regional distribution of automotive parts worth 1 billion dollars from Turkey. In a statement by Istanbul Chamber of Commerce (ICC), it was noted that Halla Group, which has been active since 1962 in a wide range of sectors including automobile industry, shipbuilding, construction, education and sports, and is one of the industry's major players globally, has made another significant investment in Turkey with ICC's involvement. Mando Corporation, which holds 50 percent stake in Maysan Mando, a suspension systems manufacturer that ranks as the "largest company" within Halla Group, has established Halla Corporation Europe in Turkey. Halla Corporation Europe, which was officially launched at a ceremony held at Istanbul Chamber of Commerce, will manage 1 billion dollars in turnover directly from Turkey in the context of product distribution for the after-sales market, and will have a significant share globally.