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Hyundai

April 10, 2015

Hyundai Motor vows to improve corporate governance; Bollore boosts stake in Vivendi; and James Dyson to acquire son’s lighting company

Hyundai Motor vows to improve corporate governance

South Korea’s largest automaker Hyundai Motor Co will consider a shareholder request to improve corporate governance, according to co-chief executive Kim Choong Ho.

The proposal comes shortly after Hyundai paid more than $10 billion for a piece of real estate in Seoul’s affluent Gangnam district, which caused share prices to drop and rekindled the debate around opaque decision making.

February 13, 2015

Gina Rinehart sells Fairfax stake, cites ‘bad decisions’; Grupo Mexico plans to sell stake in its railway business; and Hyundai’s Chung family raises $1.1 billion in stake sale

Gina Rinehart sells Fairfax stake, cites ‘bad decisions’

Australian mining second-gen Gina Rinehart has sold her stake in newspaper publisher Fairfax Media for A$306 million (€208 million), according to a press release.

Rinehart, who is the richest person in Australia, sold her 14.99% stake for 86.75 Australian cents per share. She said bad business decisions at Fairfax inspired her to sell.

January 13, 2015

A $1.25 billion share sale at a subsidiary of South Korean family-owned conglomerate Hyundai has flopped, potentially stalling succession between the second and third generations.

A $1.25 billion (€1.06 billion) share sale at a subsidiary of South Korean family-owned conglomerate Hyundai has flopped, potentially stalling succession between the second and third generations.

Despite a discount on the share price of up to 12%, the Chung family failed to reduce its 43% in Hyundai Glovis, the group’s logistics subsidiary.

January 9, 2015

Hyundai announces multi-billion investment; Lundin reduces 2015 budget by one-third; and Market Basket installs new board of directors

Hyundai announces multi-billion investment

Hyundai Motor Corporation, the Korea-based car company controlled by the Chung family, has announced a multi-billion euro investment to make up for its slowest sales growth in over a decade.

The carmaker said Tuesday that it plans to spend 80.7 trillion won (€62.5 billion) on new factories over the next four years and will be primarily focussed on research and development.

February 25, 2013

South Korea’s chaebols are the foundation of the country’s economic success story. But have these businesses turned into monsters?  

Imagine you are the fantastically wealthy owner of a vast South Korean conglomerate with a young daughter who doesn’t know what she wants to do with her life. She needs a hobby. What do you do? Give her a bakery, of course. Sounds harmless? Not so.

Early in 2012 there was a vast public blowback against the swanky bakeries owned by the daughters of South Korean moguls, which were accused of putting traditional small Korean bun-sellers out of business. The outcry was so great that even politicians leapt on to the bandwagon.

January 31, 2012

Plans by opposition politicians in South Korea to introduce a new tax on family-controlled conglomerates have been criticised by the country’s finance minister.

Plans by opposition politicians in South Korea to introduce a new tax on family-controlled conglomerates have been criticised by the country’s finance minister.

Bahk Jae-wan said the Democratic United Party’s suggestion to tax the dividends earned by family-owned conglomerates, or chaebol, from equity investments in their affiliates could hurt future investment and competitiveness, reported the Yonhap News Agency, a local news provider.

January 14, 2011

The decade-long feud in one of South Korea’s richest families has taken another turn, as Hyundai Motor signed a preliminary agreement to control the country’s largest builder, pushing out rival bidder the Hyundai Group.

The decade-long feud in one of South Korea’s richest families has taken another turn, as Hyundai Motor signed a preliminary agreement to control the country’s largest builder, pushing out rival bidder the Hyundai Group.

January 6, 2011

Hyundai Group, the South Korea-based conglomerate controlled by the Chung family, had its bid to block the sale of Hyundai Engineering & Construction to rival Hyundai Motor rejected by a court in Seoul on 4 January.

Hyundai Group, the South Korea-based conglomerate controlled by the Chung family, had its bid to block the sale of Hyundai Engineering & Construction to rival Hyundai Motor rejected by a court in Seoul on 4 January.

The ruling leaves Hyundai Motor, which is controlled by a rival branch of the Chung family, free to acquire the 35% share of Hyundai E&C both sides of the family had been bidding for.

December 6, 2010

Hyundai Group, the Korea-based conglomerate controlled by the Chung family, may face further scrutiny over its $4.8 billion bid for a controlling share in Hyundai Engineering & Construction.

Hyundai Group, the Korea-based conglomerate controlled by the Chung family, may face further scrutiny over its $4.8 billion bid for a controlling share in Hyundai Engineering & Construction. 

According to Korea Exchange Bank, one of the shareholders selling its stake in Hyundai E&C, the Hyundai Group will be asked for further details of the bid for the third time amid concerns over the funding of the deal.

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