Hyundai Capital Successfully Hosts '2022 Global IR' Inviting Domestic and International Investors

Hyundai Motor Group IR Team Leader Also Attends... Strengthening Group's Direct Management System

[Asia Economy Reporter Yu Je-hoon] Hyundai Capital announced on the 7th that it successfully concluded the '2022 Global Investor Relations (IR) Meeting' held on the 6th, inviting domestic and international investors to showcase this year's achievements.

This event, held for the first time at the new Seoul Station headquarters after relocating in September this year, was attended by over 150 investment stakeholders from 65 domestic and international institutions including banks, securities firms, credit rating agencies, asset management companies, and insurance companies. Notably, the IR team leader of Hyundai Motor Company personally presented Hyundai Motor's global performance at this event, symbolically demonstrating that Hyundai Motor Group is establishing a direct management system over Hyundai Capital.

At the investor relations meeting, Hyundai Capital introduced not only domestic but also overseas subsidiaries' performance. Lee Hyung-seok, Hyundai Capital's Chief Financial Officer (CFO), who gave the opening presentation, stated, "2022 marks the year when Hyundai Motor Group's new direct management system over Hyundai Capital officially launched. Despite the global high-interest rate environment, as the captive finance company of Hyundai Motor Group, we successfully raised funds more effectively than competitors and achieved solid growth supported by the strong global sales performance of Hyundai Motor and Kia," summarizing the year's achievements.

According to Hyundai Capital, as of the third quarter this year, the total assets of domestic and overseas subsidiaries amounted to approximately KRW 124 trillion (based on the Seoul Foreign Exchange Brokerage rate), representing about a 20% increase compared to the same period last year. The pre-tax profit of Hyundai Capital's domestic and overseas subsidiaries also exceeded KRW 1.5 trillion. The company explained that considering challenging market conditions such as the vehicle semiconductor supply shortage, the Russia-Ukraine war, and global interest rate hikes, these results surpassed market expectations.

The CFO added, "Due to consecutive interest rate hikes and the possibility of a global economic recession, the domestic and international business environment surrounding financial companies will not be favorable next year either," but emphasized, "Hyundai Capital will continue to establish itself as a prominent financial company not only domestically but also in the global market, leveraging the strong one-team system with Hyundai Motor Group next year."