Acquisition of 6.5% Stake in New Entity Worth 516.4 Billion Won for R&D and Business Hub
- HYUNDAI STEEL decides to acquire 516,400 shares (6.5% stake) of a new entity (HMG Future Complex) for 516.4 billion won
- Purpose is to secure a complex R&D and business hub for future business leadership; payment to be made in installments over 5 years from 2026 to 2030
- Acquisition amount represents 2.6% of equity (19.84 trillion won) and 1.5% of total assets (34.44 trillion won), limiting financial burden
- If any party (HYUNDAI STEEL, Kia, Hyundai Motor, Hyundai Mobis, Hyundai Glovis, Hyundai Rotem) is excluded from Hyundai Motor Group, other parties may demand full sale of that party's shares
- If a party intends to sell shares to a third party, other parties have preemptive rights to purchase the shares
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KOSPI Filing Information
- Filing: [Correction of Description] Decision on Acquisition of Stocks and Equity Securities of Other Corporations
- Company: HYUNDAI STEEL (004020)
- Submission: HYUNDAI STEEL COMPANY
- Receipt: 05-21-2026
- Under KRX KOSPI Market Division