By Hyunjoo Jin and Joyce Lee
Hyundai group to streamline ownership structure in reform push
SEOUL (Reuters) – South Korea’s auto-to-steel giant Hyundai Motor Group will streamline its complex ownership structure, as it responds to calls from the government and investors to reform the country’s powerful family-controlled conglomerates or chaebol.
Hyundai Mobis Co Ltd <012330.KS>, a key affiliate, will spin off its module and after-service parts businesses and merge them with another group affiliate, Hyundai Glovis <086280.KS>.
Parent Hyundai Motor Group’s Chairman Chung Mong-koo and his son Chung Eui-sun, who is vice chairman, will then buy stakes in Mobis held by…
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