THE INVESTOR

메뉴열기
August 08, 2022

Hyundai Motor Group to establish US corporate body in Delaware

PUBLISHED : July 03, 2022 - 09:24

UPDATED : July 03, 2022 - 09:24

  • 본문폰트 작게
  • 본문폰트 크게
  • 페이스북
  • 트위터
  • sms

Hyundai Motor Group Executive Chair Chung Euisun (left) shakes hand with US President Joe Biden (right) after the briefing held at Grand Hyatt Seoul in Seoul on May 22. (Yonhap)

South Korean automotive giant Hyundai Motor Group said Thursday that it would establish an overseas corporate body in the state of Delaware, as part of its focus to invest in US companies with future technologies and to manage them more efficiently.

The decision follows a $10.5 billion investment plan for the US, which was announced during US President Joe Biden’s state visit to Seoul on May 21. It marks the largest overseas spending by the Korean company so far.

Tentatively named HMG Global, the US corporate body will be set up in Delaware and the company will seek approval from US authorities.

The planned US office will see investments from the group’s three major affiliates: Hyundai Motor, Kia and Hyundai Mobis.

Hyundai Motor will own a 49.5 percent share in the US corporate body while Kia and Hyundai Mobis will own 30.5 percent and 20 percent, respectively, according to officials.

By Kim Da-sol (ddd@heraldcorp.com)

  • 페이스북
  • 트위터
  • sms
최상단으로
Herald Corporation|CEO : Jeon Chang-hyeop
Publisher. Editor : Jeon Chang-hyeop
Chief Privacy Officer & Juvenile Protection Manager : Ahn Sung-mi
Title : The Investor|Date of registration : 2015.04.28
Company Registration No. 104-81-06004
Mail-Order Business Registration 2016 - Seoul Yongsan - 00590
Huam-ro 4-gil 10, Yongsan-gu, Seoul, Korea
T : +82-2-727-0114|Business info
Gov’t registration No. Seoul 아04099
COPYRIGHT HERALD CORPORATION. ALL RIGHTS RESERVED.