Hyundai Motor Group faces government calls to address 'big governance risk

mlnfx

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"South Korea's new #antitrust chief said he has been in talks with the autos-to-steel conglomerate #Hyundai Motor Group about overhauling its complex ownership structure, which critics say gives too much power to its controlling family at the expense of shareholders.

Kim Sang-jo, appointed to head the #Korea Fair Trade Commission by President Moon Jae-in, told Reuters that Hyundai's web of cross shareholdings among its group affiliates has resulted in a ""big governance risk"" for South Korea's second-largest conglomerate, which is run by its 79-year-old chief, Chung Mong-koo. For details click here [Link Removed]

 
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