Hyundai Group said it is to go ahead with plans to spin-off its Hyundai Motor Co. unit making it more independent, reports Bloomberg News (1/8/00).

The decision by South Korea`s largest industrial group bows to both Government and investor pressure in them wanting to reduce the founding family`s management control over the car maker. It also allays fears that profits from the automaker were to be used in bailing out other Hyundai-owned companies facing cash shortages.

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

Previous plans to separate Hyundai Motor from the Group by the end of June were delayed.

Just Auto Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Auto Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving automotive industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now