Hyundai Motor’s St. Petersburg plant in Russia. (Hyundai Motor Group)

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Hyundai Motor Co. has re-registered its logo and trademarks in Russia two years after pulling out of the market, raising speculation about a possible return as the deadline for its buyback option on its former plant approaches.

According to business sources and local media Tuesday, the South Korean carmaker recently re-registered multiple trademarks, including its logo, with the Russian Federal Service for Intellectual Property, valid through 2034. The move comes two years after the company sold its St. Petersburg plant to local firm Art-Finance in December 2023, with a two-year buyback option set to expire this December.

Industry watchers are divided on whether Hyundai’s latest trademark move is merely aimed at maintaining parts supply or signals preparation for a market comeback.

Hyundai Motor established its St. Petersburg plant in 2010 with an annual production capacity of about 230,000 vehicles. At its peak, the company sold 167,331 cars in Russia, while Kia sold 205,801, holding 10 percent and 12.3 percent of the market, respectively — ranking just behind domestic automaker Lada.

However, following Russia’s invasion of Ukraine in February 2022 and subsequent Western sanctions, Hyundai Motor suspended plant operations in March that year due to supply disruptions.

Within the company, opinions are reportedly divided over a potential return — some stress the need to maintain a long-term presence in the Russian market, while others say reentry would be difficult under the current geopolitical and economic conditions. Analysts also say the trademark registration could simply be part of ongoing customer service efforts, as the carmaker has maintained its Russian sales subsidiary, HMCIS, even after the plant shutdown.

An industry source said, “This registration could be viewed as a necessary step for customer care,” adding that Hyundai Motor is “taking a cautious approach” regarding any plant repurchase decision.