Arrrrrgh! Ship carrying Hyundai and Kia cars attacked by Somali pirates?
While Hyundai and Kia have asked for the prompt and safe return of the crew, the cars, apparently, are of little concern. It's not that the Korean companies don't care about their product, it's that they aren't their responsibility anymore. It seems that once a cargo ship leaves port, the cars are the responsibility of the distributor. The vehicles have already been paid for and they are insured, so the only loss is to the insurance companies.
By the way, be careful when Googling "Asian Glory." Let's just say it was an eye opener.
[Source: Bloomberg News]
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