Hyundai Capital
From Wikipedia, the free encyclopedia
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Consumer Finance |
| Founded | 1993 |
| Headquarters | Seoul, South Korea |
Key people | Hyung Jin (David) Chung (CEO) |
| Products | Auto Financing Private Financing Corporate Financing |
| Revenue |  KRW 3,245 bn (2020) |
| KRW 386 bn (2020) | |
| KRW 349 bn (2020) | |
| Total assets | KRW 30,376 bn (2020) |
| Parent | Hyundai Motor Group |
Hyundai Capital Services (Korean: 현대캐피탈) is a South Korean provider of consumer financial services ranging from auto-financing, private financing, and corporate financing. The company is a financial service unit of Hyundai Motor Group. Hyundai Capital operates in 12 countries – Korea, the U.S., the U.K., China, Germany, Canada, Russia, Brazil, India, Australia, Indonesia, and Singapore.[1]
In December 1993, Hyundai Capital Services[2] was founded under the name Hyundai Auto Finance overlooking automotive and housing finances. In 1999, the company changed its name to Hyundai Capital Services.
Hyundai Capital Services started its auto leasing business in 2001 with its inaugural product, "Just Drive."[3] In October 2004, the company established strategic partnership with U.S. conglomerate, General Electric.[4] The partnership paved ways for the companies to share their know-hows and strength in a wide range of businesses including treasury, risk management, finance product design, IT and corporate culture.[5] In 2005, the company founded Hyundai Capital Skywalkers professional volleyball team and completed Skywalkers multi-base camp, Castle of Skywalkers.[6] Hyundai Capital Services obtained Information Security Management System(ISMS) 'ISO27001' certificate in January 2008.
In July 2010, Hyundai Capital Services issued first bonds in Switzerland CHF 200 million-worth Eurobond. In January 2015, Hyundai Capital Services won the S&P credit ratings of A−.[7] Hyundai Capital Services issued US$500 million-worth green bond in March 2016, becoming the first private firm in Korea to issue such debt.[8] In March 2017 Hyundai Capital Services issued Kangaroo bonds worth AUD 400 million,[9] Hyundai Capital Services issued Hyundai Capital's first and greatest dual tranche global bonds worth US$900 million with 5 and 10 years of maturity.[10] In September 2017, Hyundai Capital Services launched "Delivery Car,"[11] which service to deliver the car to the place of customer's choice. In May 2018, Hyundai Capital Services signed an MOU with KT Corporation, South Korea's largest telecommunications company, to develop AI finance services.[12] In October 2018, Hyundai Capital Services rolled out "Easy Drive Program," which is a long-term rental car service for foreigners.[13] Hyundai Capital won "Best Corporate 2018" award from the Asset in January 2019.[14]
In 2019, Hyundai Capital issued CHF-denominated green bond worth 200 million, KRW-denominated green bonds worth 200 billion. The company established BAIC Hyundai Leasing in Beijing and Hyundai Capital Singapore branch.[15] In September 2019, Hyundai Capital opened "Digital Auto Finance" website, which offers integrated auto finance services for new car purchases. In 2020, Hyundai Capital issued CHF-denominated public bonds worth 300 million, USD-denominated ABS abroad worth 650 million, KRW-denominated sustainable bonds worth 230 billion, and CHF-denominated green bonds worth 300 million. In July 2020, Hyundai Capital Bank Europe GmbH (HCBE), completed takeover of German auto finance company Sixt Leasing SE, and in December 2020, Hyundai Capital established Hyundai Capital Indonesia (HCID).[15]
