The world’s top 3 credit rating agencies have all awarded A grades…Hyundai, Kia “Accelerating future new business initiatives such as electrification, SDV, AAM, robots”,
Jang Jae-hoon, CEO of Hyundai Motor, presenting at the ‘2024 Hyundai CEO Investor Day’ held at Conrad Seoul Hotel in Yeongdeungpo-gu, Seoul on the 28th. (Co-coverage) 2024.8.28/News1 © News1 Lee Dong-hae, reporter,
,
, “(Seoul=News1) Reporter Lee Dong-hee = Major overseas media outlets are paying attention to the news of Hyundai and Kia’s credit rating ‘Triple Crown’ as a reflection of the status of Hyundai-Kia as a global automotive group ‘Big 3’. Hyundai (005380) and Kia (000270) both received an A grade credit rating from the world’s top 3 credit rating agencies, affirming their investment value and stability in the financial market.”,
,
, ‘According to the industry on the 29th, major overseas media outlets including the U.S. AP News, the U.S. Wall Street Journal (WSJ), and the UK Financial Times (FT) online have reported that Hyundai and Kia recently obtained A ratings from all three of the world’s top 3 credit rating agencies such as Standard & Poor’s (S&P).’,
,
, ‘They evaluated that this is a significant achievement for Korean automotive brands, indicating that the influence of Hyundai and Kia in the global mobility industry is increasing. They also mentioned that Hyundai and Kia have solidified their positions as leaders in the global mobility industry.’,
,
, ‘Only four automotive companies, including Hyundai-Kia from Korea, Mercedes-Benz from Germany, and Toyota and Honda from Japan, have received A ratings from all three of the world’s top 3 credit rating agencies.’,
,
, ‘Hyundai and Kia plan to accelerate future business initiatives such as electrification, software-defined vehicles (SDV), future air mobility (AAM), and robotics following the credit rating upgrade from global credit rating agencies.’,
,
, ‘Hyundai announced a large-scale investment plan for future new businesses at the CEO Investor Day held the previous day (28th). They decided to invest a total of 120.5 trillion won over the next 10 years for future new businesses until 2033.’,
,
, ‘This amount represents an increase of about 10% compared to the previous year’s announcement and will be dedicated to the implementation of a mid- to long-term strategy called ‘Hyundai Way,’ which encompasses next-generation hybrids, extended-range electric vehicles (EREV), electric vehicles, SDVs, hydrogen, and more.’,
,
, ‘Kia also stated at the CEO Investor Day held in April that they will invest a total of 38 trillion won by 2028.’,
,
, ‘The credit rating upgrade has the effect of reducing interest burden in the process of securing investment funds for future new business initiatives.’,
,
, ‘An official from Hyundai-Kia stated, “In line with the elevated status in the global automotive and financial markets, we will actively engage in more proactive and transparent communication both domestically and abroad, while continuing uninterrupted execution of mid- to long-term future strategies to further enhance our status.”‘,
,
, ‘The industry anticipates that the achievement of the Triple Crown credit ratings by Hyundai and Kia will have a positive impact on the Korean automotive industry and national economy.’,
,
, ‘An industry official stated, “Following the achievement of being in the global top 3 in sales, obtaining A ratings from all three of the world’s top credit rating agencies is expected to be a turning point in raising the global status of Hyundai and Kia as well as the Korean automotive industry.”‘,
,
, ”]