One of the country's largest conglomerates,
Hyundai Group, says it plans to sell all of
its financial units, including Hyundai Securities.
The group says... by doing so,... it will
raise as much as one trillion won, or 9-hundred-40
million U.S. dollars... in cash to boost liquidity.
In an e-mailed statement,...
Hyundai Group said although it has enough
funds to last until the first half of next
year,... it has decided to take preemptive
measures... to ease investors' concerns.
The email goes on to say... the group plans
to continue restructing next year,... and
will focus on shipping, and manufacturing...
as well as its inter-Korean business projects
in the future.
