Hyundai Corporation Acquires Automotive Parts Company 'Sigma'... Full-Scale Entry into Manufacturing

Hyundai Corporation Acquires 77.6% Stake in Sigma
Aims to Expand into Automotive Interior Components Manufacturing
Strategic Move to Diversify Profit Portfolio and Target Global Market

On July 17, Hyundai Corporation announced that it is making a full-scale entry into the manufacturing sector by acquiring Sigma, a company specializing in automotive interior components. This merger and acquisition (M&A) is seen as an active move by Hyundai Corporation, a general trading company, to diversify its profit portfolio.

On this day, Hyundai Corporation disclosed that it had signed a contract to acquire 77.6% of Sigma's issued shares, thereby securing management control.

Founded in 2007, Sigma is a company specializing in the manufacturing of automotive interior lighting and components, holding over 50% market share in the domestic Ambient Light market. Sigma supplies door lights, ambient lights (mood lighting), and electronic components for more than 30 vehicle models of major automakers, including Hyundai Motor and Kia.

Notably, Sigma is the pioneering company that first introduced ambient lights to the domestic automotive industry. In addition, Sigma has developed vehicle flooring materials using the eco-friendly material TPO (Thermoplastic Olefin), which offers superior recyclability compared to conventional PVC, thereby enhancing the quality of vehicle interior spaces.

Hyundai Corporation plans to combine Sigma's technological capabilities and product competitiveness with its own global network and sales infrastructure as a general trading company, aiming to expand its customer base to domestic and overseas automakers. Furthermore, the company will actively seek opportunities to enter overseas markets alongside its clients when they establish plants abroad. A company representative explained that this marks a strategic shift for Hyundai Corporation from a business structure focused solely on simple trading to one centered on new technology manufacturing.

A Hyundai Corporation official stated, "Hyundai Corporation will continue to enter the global market through various strategic alliances, including equity investments, joint ventures, and M&A, not only in the field of automotive parts manufacturing but also in promising future business areas such as eco-friendly waste resource recycling, in partnership with leading domestic and overseas technology companies."