Family behind Hyundai just made US$2bil on Apple report

With Friday’s jump in Hyundai Motor shares, Euisun Chung is now worth US$4.9bil (RM19.80bil) and his father’s wealth has climbed to US$7.4bil (RM29.91bil). — Reuters

A reported potential tie-up with Apple Inc made South Korea’s second-richest family even richer.

Shares of Hyundai Motor Co jumped as much as 25% in Seoul on Jan 8 – the most since 1988 – after South Korean media said the carmaker was in talks with the US tech giant over developing self-driving vehicles. Hyundai initially confirmed the report before dialing it back to excise any mention of Apple, saying it had been receiving requests to cooperate on the technology from a number of companies.