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Korea M&A Corporation
Hyundai Motor Group to Buy Shinheung Securities 본문
The Hyundai Automotive Group wants to expand its business into the securities industry by acquiring Shinheung Securities Co. It is to announce its decision as early as Monday.
Established in 1955, Shinheung is one of the oldest securities companies in
With the Capital Markets Consolidation Act to take effect in February, rumors about mergers and acquisitions of small- and mid-sized securities companies have been growing in the financial industry.
Hyundai plans to use the acquisition as an opportunity to expand its financial business currently led by Hyundai Card and Hyundai Capital. It plans to turn the acquired company into a global investment bank like Mirae Asset so that it can compete in the global market.