|Bid||18,050.00 x 0|
|Ask||18,300.00 x 0|
|Day's range||18,050.00 - 18,400.00|
|52-week range||16,000.00 - 34,800.00|
|Beta (5Y Monthly)||0.66|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||600.00 (3.28%)|
|1y target est||N/A|
South Korea's Hyundai Motor unveiled a promising outlook for sales at home and in the United States, and also reported its first rise in profit in five quarters, in an early sign of recovery even as it battles a slump in China. This comes as Hyundai's heir apparent Euisun Chung tightens his grip and reshuffles top management to revive stalled growth at the automaker - once hailed as a star performer during the global financial crisis about a decade ago. Hyundai is now rolling out a full line-up of sport utility vehicles (SUVs) this year, after a consumer shift to the segment took a toll on its sedan-heavy line-up.
Hyundai Motor Co has appointed Jose Munoz as global chief operating officer and Americas chief, tapping a man formerly considered an ally and potential successor of Nissan Motor Co Ltd's ousted Chairman Carlos Ghosn. Munoz is the latest foreign executive to be brought in to a South Korean automaker dominated by lifelong loyalists, as heir-apparent Euisun Chung strengthens control of the conglomerate chaired by his aging father. In the U.S., Hyundai is also the subject of a regulatory investigation into the timeliness of vehicle recalls involving defective engines.
The biggest shareholder in South Korean oil refiner Hyundai Oilbank said on Monday that state-owned Saudi Aramco had agreed to buy a 17 percent stake in its oil processing operations for 1.4 trillion won ($1.24 billion). Hyundai Heavy Industries Holdings said in a regulatory filing that it had signed a sales agreement with Saudi Aramco that included an option for Aramco to buy an additional 2.9 percent stake in Hyundai Oilbank. The agreement, reached with an Aramco subsidiary, Aramco Overseas Co B.V (AOC), will support the mother company's crude oil placement strategy by providing a dedicated outlet for Arabian crude oil to South Korea, Aramco said in a statement.
SEOUL (Reuters) - South Korean automaker Hyundai Motor Co on Sunday denied a report that it had signed a preliminary deal with Chinese technology firm Tencent Holdings to develop software for driverless ...
South Korean automaker Hyundai Motor Co and Chinese technology firm Tencent Holdings have signed a preliminary deal to develop software for driverless vehicles, South Korea's Maeil Business Newspaper reported on Saturday. Both companies plan to conduct joint research and development on safety and security systems for self-driving cars, which Hyundai seeks to roll out commercially by 2030, the report, which cited unnamed industry sources, said. The agreement was signed on the sidelines of a business forum held in Seoul on Thursday by the South Korean government and China's Guangdong province, it said.
The top U.S. auto safety regulator said on Monday it will open an investigation into 3 million Hyundai Motor Co and Kia Motors Corp vehicles after reviewing reports of more than 3,000 fires that injured over 100 people. The National Highway Traffic Safety Administration (NHTSA) said the investigation is in response to a petition seeking a probe filed in June by the Center for Auto Safety. The investigation covers the 2011-2014 Kia Optima and Sorento and the 2010-2015 Kia Soul, along with the 2011-2014 Hyundai Sonata and Santa Fe.
The top U.S. auto safety regulator said on Monday it will open an investigation into 3 million Hyundai Motor Co and Kia Motors Corp vehicles after reviewing reports of more than 3,000 fires that injured over 100 people. The National Highway Traffic Safety Administration (NHTSA) said the investigation is in response to a petition seeking a probe filed in June by the Centre for Auto Safety. The auto safety agency since 2007 has been investigating some Hyundai and Kia vehicles for fire risks.
Hyundai Motor Group companies' shareholders rejected on Friday Elliott Management's demands for a massive special dividend and board seats, dealing a blow to the U.S. hedge fund's campaign to shake up South Korea's second-biggest family-run conglomerate. Although Hyundai fended off the threat from Elliott at the closely watched vote, it still faces a daunting challenge of winning shareholder support for a planned restructuring that should aid the handover of the group's reins to heir apparent Euisun Chung. Elliott thwarted Hyundai's restructuring proposal last year, and Friday's win would have provided fresh impetus to empower small investors in Asia's fourth-largest economy, long dominated by powerful elites accused of taking minority investors for granted.
Investors in Hyundai Motor Group companies are due to meet on Friday to vote on U.S. hedge fund Elliott Management's demands for a massive special dividend and board makeover, in the latest case of shareholder activism in the Asian country. Elliott, founded by billionaire Paul Singer, successfully led a campaign against Hyundai's ownership restructuring plan last year, which it called "deeply unfair and value-destructive". While its latest demands look likely to fail on most counts, even if it manages to gain a single seat at Hyundai it would be a major victory for shareholder empowerment in the country.
The showdown between U.S. activist hedge fund Elliott Management and Hyundai Motor Group is set to come to a head on Friday when shareholders gather to vote on the fund's demands for a hefty special dividend and a board shake-up. Elliott's challenge to South Korea's second-biggest family-run conglomerate is the latest example of shareholder activism in Asia's fourth-biggest economy, long dominated by powerful cliques that took minority investors for granted. The activist fund founded by billionaire Paul Singer tasted success last year when it and other investors opposed Hyundai's ownership restructuring plan on the basis that it would favour family members rather than minority shareholders.
(Reuters) - South Korean automakers Hyundai Motor Co and Kia Motors Corp will together invest $300 million in Indian ride-hailing platform Ola, playing catch-up in the global race to invest in mobility ...
The South Korean automakers have recalled more than 2.3 million vehicles since 2015 to address various engine fire risks in a series of recalls. In November, Reuters reported that federal prosecutors had launched a criminal investigation into Hyundai and Kia to determine if vehicle recalls linked to engine defects had been conducted properly. This is a serious matter, and we are moving aggressively and responsibly to uncover the facts and to ensure accountability," Tong said in a statement.
Elliott Management received a potentially fatal blow in its proxy fight to shake up South Korea's Hyundai Motor Group on Thursday when major shareholder the National Pension Service (NPS) said it would vote down the U.S. hedge fund's proposals. Elliott, founded by billionaire Paul Singer, has been battling to get South Korea's No.2 conglomerate to return excess capital to shareholders and fix governance problems since May last year when it scuppered a restructuring plan. The fund has demanded 7 trillion won ($6.2 billion) in one-off dividend payments and seats on the boards of group companies Hyundai Motor and Hyundai Mobis, in proposals to be put to a shareholder vote on March 22.
NEW YORK/SEOUL (Reuters) - Proxy advisory firm International Shareholder Services on Monday recommended that Hyundai Motor Group investors elect some directors nominated by Elliott Management as the activist hedge fund braces for a showdown with the South Korean conglomerate. ISS, however, advised shareholder votes against the dividend proposals Elliott has made at automaker Hyundai Motor Co and parts affiliate Hyundai Mobis Co Ltd. Elliott, the $35 billion New York-based hedge fund, hopes to obtain seats on the boards at the South Korean firms and push for more than $6 billion in dividends, in a bid to address what it considers excess cash and poor corporate governance.
Hyundai Motor Co is in talks with potential investors to develop its new headquarters planned for the South Korean capital of Seoul to share additional investment costs worth about 3.7 trillion won ($3.27 billion), it said on Sunday. The South Korean automaker said in a statement that the company is in talks with various investors, including pension funds, that are showing interest in the project. Hyundai Motor aims to construct its new headquarters in Seoul by 2023.
Hyundai Motor Co is considering plans to suspend production at its oldest plant in China as it reels from tumbling sales and massive overcapacity in its biggest market. The move by Hyundai, which together with affiliate Kia Motors was the No.3 automaker in China until 2016, highlights the reversal of fortunes in the world's biggest auto market that suffered its first contraction in decades last year. Hyundai and Kia face major risks from the slowdown with the duo already grappling to fend off competition from local rivals and global players in China.
Kia Motors Corp and affiliate Hyundai Motor Co said on Thursday they are recalling around 534,000 additional U.S. vehicles at risk of engine fires. Kia said it is recalling 378,000 2012-2016 Kia Soul vehicles over engine damage and fire risks, while Hyundai and Kia are recalling 155,000 2011-2013 Tucson vehicles and 2011-2012 Sportage vehicles over possible oil pan leaks in a separate callback. Last month, the companies said they would recall 168,000 vehicles for fire risks.
Elliott Management Corp on Wednesday urged shareholders of a Hyundai Motor Group firm to vote for its proposal for higher dividends and new board members, a day after the South Korean conglomerate rejected demands by the U.S. activist investor. A growing dispute between the two has complicated efforts to revamp South Korea's No.2 conglomerate and pave the way for the group's executive vice-chairman, Euisun Chung, to take over as group chairman from his 80-year-old father Mong-Koo Chung. Hyundai Motor and Hyundai Mobis, under pressure to address excess cash and governance structures, on Tuesday rejected Elliott's demands for a combined 7 trillion won (4.72 billion pounds) dividend payout, well above the companies' proposed payouts of nearly 1 trillion won.
Hyundai Motor Group on Tuesday rejected demands by U.S. activist investor Elliott Management for a combined 7 trillion won (£4.75 billion) dividend payout and new board members, complicating efforts to revamp South Korea's second-biggest conglomerate. Opposition from Elliott led Hyundai to drop an attempt to overhaul its ownership structure last year, and Executive Vice-Chairman Euisun Chung pledged in January to complete a restructuring expected to pave the way for him to succeed his father Mong-Koo Chung as group chairman. Elliott, which was not immediately available for comment, had proposed a 2018 dividend of 4.5 trillion won for Hyundai Motor and 2.5 trillion won for auto parts supplier Hyundai Mobis, according to regulatory filings and sources.
Hyundai Motor Group on Tuesday rejected demands by U.S. activist investor Elliott Management for a combined 7 trillion won ($6.3 billion) dividend payout and new board members, complicating efforts to revamp South Korea's second-biggest conglomerate. Opposition from Elliott led Hyundai to drop an earlier attempt to overhaul its ownership structure last year and executive vice-chairman Euisun Chung pledged in January to complete a restructuring expected to pave the way for him to succeed his father Mong-Koo Chung as group chairman. "I think Elliott expected that its proposals would be rejected by Hyundai.
SEOUL (Reuters) - Hyundai Mobis , an affiliate of Hyundai Motor , said on Tuesday its board rejected a shareholder proposal for dividends worth 2.5 trillion won ($2.24 billion) on concerns the spending ...
Hyundai Heavy Industries, the world's biggest shipbuilding group, has announced a share swap deal worth 2.1 trillion won ($1.98 billion) to take over second-ranked Daewoo and create a global heavyweight controlling over 20 percent of the market. State-funded Korea Development Bank (KDB) owns 55.7 percent of Daewoo, and has said it intends to sell the stake and consolidate the country's three biggest shipbuilders - which includes Samsung Heavy Industries Co Ltd - into two. The combination of two of the giant shipbuilders would ease competition and excess capacity, which have depressed ship prices, KDB Chairman Lee Dong-gull said at a news conference.