[Alpha Biz=(Chicago) Reporter Kim Jisun] Hyundai Group Chairman Hyun Jung-eun sold all shares of Hyundai Elevator, which she received from her mother, Kim Moon-hee.

According to the Financial Supervisory Service's electronic disclosure on the 2nd, Chairman Hyun sold all 2,245,540 shares (5.74%) of Hyundai Elevator to Hyundai Network on the 27th. The selling price is 118.8 billion won.

Chairman Hyun secures management rights of Hyundai Elevator through his stake in Hyundai Network and Hyundai Holdings Company, which he owns 91.3%. Currently, Hyundai Network and Hyundai Holdings Company hold 19.26% and 5.74% of Hyundai Elevator shares, respectively.

In addition, Hyundai Elevator held an extraordinary shareholders' meeting at its headquarters in Chungju, North Chungcheong Province, and appointed new directors and auditors.

Meanwhile, Hyundai Elevator plans to restore market confidence by preparing new shareholder return measures to improve shareholder value by improving governance and expanding dividends.

 

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