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Hyundai Mobis Approves KRW700 Billion in Q4 Transactions With Hyundai Motor Securities

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Hyundai Mobis (KRX:012330) will raise up to 500 billion won in fund management transactions and up to 200 billion won via corporate bond-related financing with Hyundai Motor Securities (KRX:001500) in the October-December period, according to a Friday filing with the Korean Exchange.

The transaction will be conducted at market interest rates to enhance profitability and better fund management.

Shares of Hyundai Mobis fell over 7% in recent trade, while those of Hyundai Motor Securities declined more than 8%.

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