PARIS, Nov 24 (Reuters) -
* French car parts maker Valeo’s chief financial officer said its South Korean business, which supplies Hyundai Motor , was picking up after sales were affected earlier this year by diplomatic tensions between Seoul and China.
* “Relations between China and South Korea are normalising and I think Hyundai’s sales (there) will kick off again, at least that’s what we are seeing today in our order book,” CFO Robert Charvier said at a business fair.
* He said he expects Valeo’s business in South Korea to return to normal next year.
* Hyundai Motor saw its sales in China, the world’s largest auto market, tumble earlier this year in large part due to a chill between China and South Korea over Seoul’s deployment of a U.S. anti-missile system.
* Charvier said the downturn in Valeo’s South Korean business would cut its overall sales growth by about one percentage point this year.
* Valeo had said in October that it expected the drop in its South Korea business could last several more quarters. (Reporting by Gilles Guillaume; Writing by Ingrid Melander; Editing by Susan Fenton)