Korean Corporate Governance Forum Urges Hyundai Motor to Change Boston Dynamics Stake Acquisition Method

According to ETDaily, the Korean Corporate Governance Forum urged Hyundai Motor's board today (July 21) to alter its Boston Dynamics acquisition structure, proposing that the company acquire the remaining 9.65% stake through HMG Global rather than allowing Chairman Chung Euisun to purchase additional shares individually. The forum cited concerns over potential violations of fair trade laws and corporate governance standards regarding prior personal acquisitions.

The forum also recommended Hyundai Motor sell its 5% stake in Korea Zinc (worth approximately 1 trillion won) and its 5% KT stake (approximately 700 billion won) for shareholder returns, and reduce investment in the Global Business Center development project, stating the automaker should focus on mobility innovation rather than commercial real estate.