Hyundai Capital Services (Hangul:?????) 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.
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History
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. Hyundai Capital Services started its auto leasing business in 2001 with its inaugural product, "Just Drive." In 2004, the company established strategic partnership with U.S. conglomerate General Electric. 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. The company in 2005 founded Hyundai Capital Skywalkers professional volleyball team and completed Skywalkers multi-base camp, Castle of Skywalkers. In 2015, Hyundai Capital Services won the S&P credit ratings of A-. Hyundai Capital Service issued USD 500 million-worth green bond in March 2016, becoming the first private firm in Korea to issue such debt.
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Services
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.
Global operations
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.
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. HCA's Treasury department was recognized as the 2015 Top Treasury Team in the annual Adam Smith Treasury Achievement awards competition of Treasury Today.
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.
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. 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.
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.
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.
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.
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. 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. 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.
See also
- Hyundai Capital Site
- Hyundai Capital Homepage(local)
- Hyundai Capital Skywalkers
References
Source of article : Wikipedia
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