Hyundai exec dishes on major expansion in O.C.

In the past two decades since its arrival in the United States, Hyundai has seen dramatic growth in both its sales and the quality of its cars.

Worldwide, the Korean automaker is now the fifth-largest automobile manufacturer, and is gunning for even more growth in the years ahead.

Now, the Orange County-based U.S. arm of Hyundai is set to grow in a very physical way by doubling the size of its Fountain Valley headquarters, as well as the number of employees that the new building will hold.

This week, Hyundai Motor Co. Chairman Mong-Koo Chung advised California Gov. Arnold Schwarzenegger of Hyundai's plans to invest $150 million in the new building and secure the company's future with the state.

In mid-2011, a wrecking ball will be taken to the existing building off the I-405 freeway that Hyundai Motor America has called home since its arrival in 1985, and a new headquarters is to be completed by the end of 2012.

The new facility will be close to 500,000 square feet when completed and will have room for about 1,400 workers, up from the 700 the current site can house.

For Hyundai Motor America President and CEO John Krafcik, the news came as nothing but positive for his company and workers, as well as for the car industry overall.

"I'm so proud," he said of Wednesday's announcement. "We'd been looking at this for some time."

Krafcik said his company follows a philosophy of "diligence, frugality and harmony," and that has shown in the way they've used their current facility.

"We've gotten every last bit of value out of the building," Krafcik said. Now, ‘it's time for us to move into a building that reflects our Tier 1 status."

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