Hyundai Glovis to Invest KRW 672bn for 8.4% Stake in Joint Venture HMGFutureComplex
Hyundai Glovis, together with Hyundai Motor, Kia, Hyundai Mobis, Hyundai Steel, and Hyundai Rotem, plans to acquire 672,000 shares (672 billion won, 6.5% of equity) in the newly established HMGFutureComplex (tentative name), resulting in an 8.4% stake
The acquisition amount will be paid in installments over 5 years from May 2026 to December 2030, based on the final acquisition date
If any party is excluded from the Hyundai Motor Group, the remaining parties may demand the sale of all shares held by that party; a right of first refusal is granted for any share sale
The investment aims to secure business and new R&D facilities
KOSPI Filing Information
Filing: [Correction of Description] Decision on Acquisition of Stocks and Equity Securities of Other Corporations