US envoy for North Korea to join Hyundai Motor as an adviser

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SEOUL (Reuters) - The U.S. special representative for North Korea Sung Kim will join South Korean automaker Hyundai Motor (OTC:HYMTF) as an adviser in January, the company said on Friday.

Kim, a Korean-American diplomat and a veteran State Department official, also recently ended his term as U.S. ambassador to Indonesia.

He was appointed special envoy to North Korea by U.S. President Joe Biden in 2021 after holding the role as special envoy to six-party talks in a previous administration.

In addition, he has served as ambassador to South Korea and the Philippines and helped President Donald Trump set up summits with North Korean leader Kim Jong Un.

Kim's appointment comes as Hyundai seeks to navigate the impact of the U.S. Inflation Reduction Act, which excludes some electric vehicles (EVs) assembled outside North America from tax credits.

The Hyundai Motor Group, which encompasses the Hyundai, Kia and Genesis brands, said earlier this year it plans to launch 31 EVs by 2030.

US envoy for North Korea to join Hyundai Motor as an adviser