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Auto 25 Dec 2016 | 11:49 PM

Blindsided by SUV boom, Hyundai Motor trims costs, perks

SEOUL: Headed for a fourth straight annual profit decline, Hyundai Motor <005380.KS> is trimming its cost fat; scaling back on business class flights and annual family home trips for overseas employees, executives told Reuters.

Business 05 Apr 2018 | 12:00 AM

Elliott boosts hopes for change at Hyundai

SEOUL: A unit of US activist hedge fund Elliott Management revealed that it holds more than US$1bil worth of shares in key affiliates of South Korea’s Hyundai Motor Group and called for more rapid reform of the auto giant’s governance.

Business 16 May 2018 | 12:00 AM

Glass Lewis joins Elliott in opposing Hyundai merger

NEW YORK: A big proxy adviser joined Elliott Management Corp in opposing an US$8.8bil deal between two Hyundai Motor Group units, complicating the automotive giant’s ability to get shareholders to vote for an overhaul that may help the chairman pass on control of the South Korean conglomerate to his son.

Business 23 Dec 2013 | 5:26 PM

Hyundai group to sell off financial units

South Korea's Hyundai group has announced a restructuring plan to sell off financial units for more than US$3bil in an effort to reduce its debt and focus on shipping, logistics and elevator-machinery businesses.

Business 14 Jan 2015 | 12:00 AM

Hyundai Motor execs fail to sell affiliate shares

SEOUL: Hyundai Motor Co said its chairman and his son failed to sell about US$1.25bil worth of shares in affiliate Hyundai Glovis, thwarting a succession move at South Korea’s second biggest family-owned conglomerate.

Corporate News 11 May 2018 | 1:36 AM

US activist fund Elliott to vote against Hyundai revamp

SEOUL: U.S. activist fund Elliott Management said it will vote against Hyundai Motor Group's restructuring plan and urged other shareholders to reject the proposal to reform South Korea's second-largest conglomerate.

Corporate News 27 Dec 2017 | 12:00 AM

Hyundai Heavy eyes US$1.2bil from sale of new shares

SINGAPORE: Hyundai Heavy Industries Co, the world’s second-biggest shipbuilder, plans to raise about 1.29 trillion won (US$1.2bil) selling new shares for working capital amid shrinking orders in the global industry.

World 17 Jul 2005 | 12:00 AM

North Korea agrees to expand tourism with Hyundai

The agreement was reached following Saturday's meeting in North Korea between the North's leader Kim Jong-il and Hyundai Group executives including the group's chairwoman, Hyun Jeong-Eun, Hyundai said in a statement.

Auto 20 Aug 2017 | 10:55 PM

Hyundai Motor Group faces government calls to address 'big governance risk'

SEOUL: South Korea's new antitrust chief said he has been in talks with the autos-to-steel conglomerate Hyundai Motor Group about overhauling its complex ownership structure, which critics say gives too much power to its controlling family at the expense of shareholders.

Corporate News 29 Jan 2019 | 12:00 AM

Aramco invests up to US$1.6bil in S. Korea refiner Hyundai Oilbank

SEOUL: State-owned Saudi Aramco plans to invest up to US$1.6bil for a nearly 20% stake in South Korean refiner Hyundai Oilbank, expanding its foothold in one of its biggest Asian buyers of crude oil.