The company says it has no need to raise funds to meet investment bank capital requirements and will benefit from a massive infrastructure build-up in research and sales.
The US-based AIG consortium notified the government yesterday (Wednesday) that it intends to invest as much as W1.1 trillion ($944 million) in Hyundai Investment Trust and Securities.
The Korean Financial Supervisory Service will sue the chairman of Hyundai Securities.
Hyundai Motors'' chairman is proving recalcitrant in defying his father''s call to step down.
Two Hyundai units have been forced to obtain additional overdraft facilities in order to meet bond repayments as mutual fund redemptions show little sign of slowing in South Korea.
Hyundai Motor''s bid for Daewoo Motor is a non-starter. The company has neither the firepower nor the friends to win control and so keep foreign competition at bay.