Speaking with reporters at the 2026 Busan Mobility Show on June 26, Munoz stated, "We will concentrate on customer value rather than engaging in a price-cutting competition" in response to the aggressive pricing strategies of Chinese firms.
He emphasized that as market competition intensifies, technological competitiveness will become increasingly vital. "While competition is becoming more intense, we are also learning from our rivals," Munoz said. "This competition will ultimately make Hyundai a stronger company."
Munoz expressed high expectations for the world premiere of the eighth-generation fully redesigned model, the all-new Avante.
He noted, "The sedan market is not growing as rapidly as it once did, but there is still solid demand. The Avante is a very important model that represents Hyundai not only in Korea but also in the global market."
He further emphasized the strategic importance of the Korean market and the company's large-scale investment plans.
"Without a doubt, Korea is Hyundai's most important market," he said, adding that the largest portion of Hyundai's global investments is being made in Korea.
Munoz announced plans to invest approximately 125 trillion won by 2033 to enhance product development as well as core future technologies such as robotics, future mobility, autonomous driving, and software-defined vehicles (SDVs). He stated, "We will leverage the technology and know-how accumulated in Korea and expand new business models to the global market."
* This article has been translated by AI.
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