Korean credit rating agencies have raised Hyundai Corporation’s rating to “A” (stable). Given its stable business profitability and favorable financial stability, the outlook for its future credit rating is evaluated to be stable.
Against the backdrop of trade deficits being posted for 15 months in a row, a local company has successfully signed a deal with a European pharmaceutical distributor to export lactic ferments to Europe, the birthplace of such ferments. The Korean company is Bereum (CEO: Han Kwon-il) that has concentrated on postbiotics R&D for the past three decades.
Hyundai Corporation (HC) has begun reinforcing its future growth engines by constructing another solar power plant in Japan. This initiative reflects Chairman Chung Mong-hyuck’s intention to strengthen eco-friendly projects and to reduce its reliance on trading.
Hyundai Corporation posted the highest earnings in its history last year and is expected to sustain its growth momentum in the first quarter of this year fueled by significant growth in steel and auto parts.
This is the message that Hyundai Corporation Group Chairman Chung Mong-hyuck delivered as he pushed ahead with his scheme to revamp the position classification system. According to a Hyundai Corporation (HC) official, Chairman Chung highlighted the removal of the seniority system to focus instead on rewarding employees based on capabilities as he initiated reorganizing HC’s position classification system on the 1st of March.