Hyundai Capital

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Hyundai Capital Services
Industry Consumer Finance
Founded 1993
Headquarters Seoul, South Korea
Key people
Tae Young (Ted) Chung, CEO
Products Auto Financing
Private Financing
Corporate Financing
Revenue IncreaseKRW 1,970.7 bn (2016 3Q)
IncreaseKRW 323.2 bn (2016 3Q)
IncreaseKRW 277.1 bn (2016 3Q)
Website https://www.hyundaicapital.com

Hyundai Capital Services (Hangul: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 has expanded to overseas markets, providing auto financing services in five countries outside Korea – the U.S., the U.K., China, Germany and Canada. Hyundai Capital also runs auto financing consultancies in Russia, Brazil, India, and Australia to support the sales of Hyundai and Kia cars at respective countries.[1]

History[edit]

Hyundai Capital Services since 1993 had run under the name Hyundai Auto Finance overlooking automotive and housing finances until 1999, when it changed its name to Hyundai Capital Services.[2] Hyundai Capital Services started its auto leasing business in 2001 with its inaugural product, “Just Drive.”[3] In 2004, the company established strategic partnership with U.S. conglomerate General Electric.[4] The partnership is said to have 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] The company in 2005 founded Hyundai Capital Skywalkers professional volleyball team and completed Skywalkers multi-base camp, Castle of Skywalkers.[6] In 2015, Hyundai Capital Services won the S&P credit ratings of A-.[7] Hyundai Capital Service issued USD 500 million-worth green bond in March 2016, becoming the first private firm in Korea to issue such debt.[8]

Services[edit]

Hyundai Capital Services largely provides auto financing, private financing and corporate financing services. The auto financing service offers lease, rental services as well as new car installment loan, used car loan, direct used car loan. For the private financing service, the company offers credit Loan, car secured loan, housing mortgage loan, loan for lease, housing finance corporation. For the corporate financing service, the company provides corporate loan and corporate lease.[9]

Global operations[edit]

Hyundai Capital currently operates in 9 countries outside South Korea. Its financially-operating firms are based in the U.S., Canada, Germany, the U.K., and China. Offices in Russia, Brazil, India, Australia, and the EU provide financial consulting for Hyundai and Kia local distribution companies at respective countries.[10][11]

Founded in 1989, Hyundai Capital America (HCA) is a part of the Hyundai Motor Group family of companies, supporting the financial services needs of Hyundai Motor America and Kia Motors America, Inc.[12] HCA’s Treasury department was recognized as the 2015 Top Treasury Team in the annual Adam Smith Treasury Achievement awards competition of Treasury Today.[13]

Established in 2014, Hyundai Capital Canada (HCCA) is headquartered in Toronto and operates under the service brands Hyundai Motor Finance, Kia Motors Finance, and Genesis Finance. The company is a lease provider of Hyundai and Kia vehicles and continues to offer financial products tailored to meet the needs of Genesis, Hyundai, and Kia dealerships and customers.[14]

Hyundai Capital Europe, the European Hyundai Capital subsidiary established in 2010 in Germany, received the European Central Bank as well as the German financial authorities’ approval to establish a captive bank in Germany in 2016.[15] In January 2017, the bank, Hyundai Capital Bank Europe GmbH (HCBE), has officially launched its operations starting with providing financial services to customers and dealers of the Kia brand.[16]

Hyundai Capital UK (HCUK) is a captive finance company which commenced trading in 2012. It is a joint venture among Santander Consumer UK, Hyundai Capital Services, Kia Motors UK and Hyundai Motor UK. It operates under two consumer facing brands, Hyundai Finance and Kia Finance, to provide both retail and wholesale finance to over 320 Hyundai and Kia franchised dealers in the U.K.[17]

In China, the company joined hands with Beijing Automotive Group, Hyundai Motor Company and others to set up Beijing Hyundai Auto Finance(BHAF) in 2012. BHAF's Income Before Taxes(IBT) in 2016 is more than doubled that of 2015. The company issued its first asset-backed security (ABS) in early 2016.[18][19]

Hyundai Capital is swiftly establishing footprints in emerging markets including Russia, Brazil, India, and Australia with financial consulting for Hyundai Motor Company and Kia Motors.[20]

Corporate social responsibility[edit]

1913 Songjeong Station Market Project is the latest work of Hyundai Card∙Capital’s renovation and revitalization project. The 103-year-old Songjeong Station Market, Gwangju, was given some trim and facelift resulting in a jump of daily visitors to 4,300 in May 2016 from 200 in May 2015.[21] Bongpyeong Market Project in 2014 conserved the basic infrastructure of the market and adopted exterior design in each shops under the slogan of “Development for Sustainability”, encouraging merchants to strive for change.[22] Dream Realization Project has helped mom and pop store owners to give a boost to their operation by adopting design factors. A total of 10 stores ranging from grocery, bistro, beauty shop, delicatessen and others have been provided with management consulting, interior redesigning and others to change their operations. The stores have since then seen a sales rise by an average of two-folds.[23]

See also[edit]

References[edit]

  1. ^ With Numbers Without Numbers 2016 Hyundai Capital, 2016
  2. ^ ECB approves Hyundai Capital Bank Europe, "Business Wire" December 16, 2016
  3. ^ 현대캐피탈 ‘저스트 드라이브’, 오토리스 최강자…토털서비스로 편리 극대화, "파이낸셜뉴스" June 26, 2002
  4. ^ 현대캐피탈, GE소비자금융과 전략적 제휴 "edaily", August 3, 2004
  5. ^ 현대캐피탈의 당찬 글로벌 도전 해외 법인 자산∙영업이익 쑥쑥 큰다 "sedaily", April 29, 2016
  6. ^ Hyundai Capital Skywalkers Homepage, 2017
  7. ^ S&P, 현대캐피탈 등급 'A-'로 상향…현대카드는 유지 "YeonhapInfomax" January 30, 2015
  8. ^ 현대캐피탈, 민간기업 최초 그린본드 발행 성공 "gukjenews" March 9, 2016
  9. ^ With Numbers Without Numbers 2016 "Hyundai Capital", 2016
  10. ^ 현대캐피탈의 당찬 글로벌 도전 해외 법인 자산•영업이익 쑥쑥 큰다 "sedaily" April 29, 2016
  11. ^ Hyundai Capital aims to lead global auto financing "Korea Herald" November 7, 2013
  12. ^ Hyundai Capital America Homepage, 2017
  13. ^ Hyundai Capital Amreica’s “Top Treasury Team” Leads Company to $40 Billion Mileston "PRNewswire" June 29, 2015
  14. ^ Hyundai Capital Canada Homepage, 2017
  15. ^ ECB approves Hyundai Capital Bank Europe "Business Wire", December 16, 2016
  16. ^ Kia startet eigene Autobank "autohaus" January 11, 2017
  17. ^ Hyundai Capital boosts global sales "Korea Times" November 7, 2013
  18. ^ 현대캐피탈, 중국 자동차 금융시장 공략 "autoherald" September 25, 2012
  19. ^ 해외로 시선 고정한 현대캐피탈…중 법인 실적 ‘급성장' "YeonhapInfomax" January 4, 2017
  20. ^ With Numbers Without Numbers 2016 "Hyundai Capital", 2016
  21. ^ 103-year-old market gets rejuvenated "Korea Times" May 26, 2016
  22. ^ 현대카드∙캐피탈이 ‘봉평장’을 확 바꿨다. "bizwatch" November 28, 2014
  23. ^ 현대카드 ‘드림실현 프로젝트’ 고기 잡는 법 지원 "더펙트" October 19, 2014