After the’Apple Car’ report, some executives’ shares were disposed of for a total of 800 million won
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The stock value of Hyundai Motor Group’s Honorary Chairman Chung Mong-koo and Hyundai Motor Group Chairman Eui-sun Eui-seon plunged by about 800 billion won a day after the Hyundai Motor Group and Apple stopped discussing autonomous vehicles.
According to Chaebol.com on the 9th, the value of the shares of the four listed companies held by Honorary Chairman Chung Mong-koo was 5,993.7 billion won based on the closing price of the previous day. This is a decrease of KRW 4418 billion (6.9%) from KRW 6,435.5 billion on the 5th. Honorary Chairman Chung Mong-koo owns Hyundai Motor Company (5.3%), Hyundai Mobis (7.1%), Hyundai Glovis (6.7%), and Hyundai Steel (11.8%).
Chairman Eui-sun Eui-sun’s stake in listed companies decreased from 4,481.4 billion won on the 5th to 4.79 trillion won on the previous day, a decrease of 422.1 billion won (9.0%). Chairman Eui-seon Eui-sun of Hyundai Motor Company (2.62%), Kia (1.74%), Hyundai Glovis (23.29%), Hyundai Mobis (0.32%), Hyundai Wia (1.95%), INNOCEAN (2.00%), Hyundai Autoever (9.57%) And Hyundai Motor Company’s preferred stock (298 shares, 0.00%).
The news of the suspension of negotiations on the development of the Apple Car has reduced the stock value of the two chairmen by KRW 843.8 billion in one day. Last month, shares related to the Hyundai Motor Group soared as news of negotiations for the launch of the’Apple Car’ spread. The stock value of Chairman Eui-sun Eui-sun exceeded 4 trillion won for the first time on the 8th of last month.
However, the day before, when Hyundai Motor Company, Kia, and Hyundai Mobis announced that “there is not proceeding with discussions on the development of autonomous vehicles with Apple,” the stock price plummeted. Companies that were expected to benefit from Apple car development, such as Hyundai Motor Company (-6.21%), Kia (-14.98%), Hyundai Mobis (-8.65%), Hyundai Wia (-11.90%), and Hyundai Glovis (-9.50%) The stock price fell sharply. However, at 12:31 p.m. on the day, Hyundai Motor Company is trading at 238,000 won, up 1.71% from the previous day, and is rebounding. At the same time, Kia (0.93%), Hyundai Mobis (1.40%), Hyundai Wia (0.81%), and Hyundai Glovis (1.25%) also showed slight increases.
On the other hand, it was revealed that some Hyundai Motor Company executives have sold shares since the 8th of last month when the Apple car-related report was reported. According to the Electronic Disclosure System of the Financial Supervisory Service, managing director Seok Dong-bin sold 500 out of 700 shares held on the 18th of last month (as of the settlement date). It was traded at 260,500 won per share, and the disposal amount was about 130 million won. Managing Director Kim Cheol also sold the entire 585 shares of the stock held on the 27th of last month (as of the settlement date) for 263,000 won. The disposal amount was about 150 million won.
There are 12 executives who have sold their stocks since the 8th of last month, and a total of 3,402 shares (including preferred stocks) have been sold. The disposal amount was 830 million won. The average selling price was about 250,000 won (excluding preferred stocks), which was 7.1% higher than the previous day’s closing price. Most of them bought stocks in order to participate in the purchase of treasury shares by Chairman Eui-sun Eui-sun in March last year, when the stock price plummeted due to Corona 19. It seems that they sold the stock as the stock price rose last month. On the other hand, managing director Park Jin-ho was found to have bought 250 shares of common stock on the 26th of last month (based on the settlement date) for 257,000 won. Accordingly, his number of shares increased to 415.
/ Intern reporter Park Yena [email protected]
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