Acquisition of 6.5% Stake in New Entity Worth 516.4 Billion Won for R&D and Business Hub
HYUNDAI STEEL decides to acquire 516,400 shares (6.5% stake) of a new entity (HMG Future Complex) for 516.4 billion won
Purpose is to secure a complex R&D and business hub for future business leadership; payment to be made in installments over 5 years from 2026 to 2030
Acquisition amount represents 2.6% of equity (19.84 trillion won) and 1.5% of total assets (34.44 trillion won), limiting financial burden
If any party (HYUNDAI STEEL, Kia, Hyundai Motor, Hyundai Mobis, Hyundai Glovis, Hyundai Rotem) is excluded from Hyundai Motor Group, other parties may demand full sale of that party's shares
If a party intends to sell shares to a third party, other parties have preemptive rights to purchase the shares
KOSPI Filing Information
Filing: [Correction of Description] Decision on Acquisition of Stocks and Equity Securities of Other Corporations