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MarketScreener Homepage  >  Equities  >  KOREA EXCHANGE  >  Hyundai Motor Co    005380   KR7005380001

HYUNDAI MOTOR CO

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Hyundai Motor in talks with investors to develop new HQ

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03/11/2019 | 03:42am EDT

The logo of Hyundai Motor Co is displayed at the automaker's showroom in Seoul, South Korea, April 26, 2017. (LEE JIN-MAN / AP)

SEOULHyundai Motor, South Korea's biggest automaker, was in talks with potential investors for billions of US dollars of project to jointly develop its headquarters complex in the country's capital Seoul.

"Hyundai Motor Group is in talks with various potential investors for joint development project for its Global Business Center to be established in southern Seoul," Hyundai said in a statement Monday.

Nearly half of the purchase cost was shared by Kia Motors and Hyundai Mobis, affiliated with Hyundai

Showing interests in the project were pension funds, sovereign wealth funds and other global investors, according to the statement.

Hyundai purchased the property in the Gangnam district of Seoul at 10.55 trillion won (US$9.3 billion) from the state-run power supplier Korea Electric Power Corp (KEPCO) in 2014.

Nearly half of the purchase cost was shared by Kia Motors and Hyundai Mobis, affiliated with Hyundai.

Additional cost for the mega-development project was estimated at about 3.7 trillion won (US$3.3 billion). It can increase financial burden for Hyundai Motor Group, the country's second-biggest conglomerate.

"The joint development is expected to alleviate the group's direct investment scale and enhance the group's overall brand image," said the South Korean carmaker.

Hyundai aims to complete the construction of its headquarters complex by 2023.

(c) 2019 China Daily Information Company. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

Stocks mentioned in the article
ChangeLast1st jan.
HYUNDAI HCN CO LTD End-of-day quote.
HYUNDAI MOBIS CO., LTD. End-of-day quote.
HYUNDAI MOTOR CO End-of-day quote.
KIA MOTORS CORPORATION End-of-day quote.
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Financials (KRW)
Sales 2019 101 427 B
EBIT 2019 3 874 B
Net income 2019 3 554 B
Debt 2019 51 685 B
Yield 2019 3,28%
P/E ratio 2019 9,14
P/E ratio 2020 8,00
EV / Sales 2019 0,83x
EV / Sales 2020 0,80x
Capitalization 32 434 B
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Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 155 160  KRW
Spread / Average Target 20%
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Managers
NameTitle
Mong-Koo Chung Chairman & Co-Chief Executive Officer
Won-Hui Lee Co-President, Co-CEO & Director
Gab-Han Yoon Co-President, Co-CEO & Director
Byeong-Cheol Choi Chief Financial Officer
Moon-Sik Kwon Vice Chairman-Executive Board, Head-R&D
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