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[Alpha Biz=(Chicago) Reporter Kim Jisun] Hyundai Mobis will invest 10 trillion won over three years to secure future competitiveness and retire treasury stocks worth 150 billion won to enhance shareholder value. 

 

In addition, James Kim, chairman of the American Chamber of Commerce in Korea, is newly recommended as an outside director to increase the diversity and expertise of the board of directors. Chung Eui-sun, chairman of Hyundai Motor Group, will also be re-elected as an in-house director.

Hyundai Mobis announced its "2023 Shareholder Value Enhancement Policy" on the 14th, which aims to expand future investment and return shareholders. According to the plan, Hyundai Mobis will invest 10 trillion won over the next three years. In order to ensure electrification and secure competitiveness in core components, 5 trillion won to 6 trillion won will be invested internally, up 2 trillion won from the existing plan, and 3 trillion won to 4 trillion won will be invested in external investments such as autonomous driving, advanced driver support system (ADAS) and software.

In addition, Hyundai Mobis plans to expand sales other than group companies and promote strategic mergers and acquisitions and partnerships to secure core technologies for future mobility. It will also discover and invest in new growth businesses such as Future Aviation Mobility (AAM) and robotics based on innovative technologies.

It also implements a shareholder return policy. Hyundai Mobis plans to approve dividends of 4,000 won (including interim dividends), the same as the previous year, at next month's shareholders' meeting and continue interim dividends this year.

 

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