Hyundai Automotive Group Chairman's Stocks Surge in Value
Since the beginning of the year, Hyundai Automotive Group chairman Chung Mong Koo has gained about $290 million in stock value with a surge in the share price of Hyundai AG stocks.
The market value of Chung’s Hyundai AG stocks reached $1.57 billion last Thursday.
Outside the gains from HMC, Chung gained $68.4 million from Hyundai Mobis, a parts-making unit of Hyundai, $57 million from Hyundai Hysco and $26.1 million from his investment in INI Steel. Chung has plans for steel makers Hysco and INI to be a global leaders by 2010.
Only four of the twenty eight Hyundai AG firms are publicly traded, although plans are underway for a Glovis IPO in late 2005 or early 2006.
The market value of Chung’s Hyundai AG stocks reached $1.57 billion last Thursday.
Outside the gains from HMC, Chung gained $68.4 million from Hyundai Mobis, a parts-making unit of Hyundai, $57 million from Hyundai Hysco and $26.1 million from his investment in INI Steel. Chung has plans for steel makers Hysco and INI to be a global leaders by 2010.
Only four of the twenty eight Hyundai AG firms are publicly traded, although plans are underway for a Glovis IPO in late 2005 or early 2006.
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