KIEV, Jan. 10 - Bogdan Corporation, one of the largest Ukrainian carmakers, says it will not increase the prices of Hyundais produced at the Bogdan Car Plant in Lutsk, despite the expiration of a law intended to stimulate the auto industry by excluding VAT from prices.

Bogdan corporation press secretary, Serhiy Krasulia, told Interfax-Ukraine that the corporation has decided to compensate for the inclusion of VAT tax into the price of Hyundai cars, effective Jan. 1, 2008, by cutting profit margins.