Deals
Virus Won’t Deter Hyundai Capital’s Overseas Expansion, CEO Says
- CEO Chung to seek partnerships, acquisitions despite pandemic
- Korean firm vying to be more than a consumer finance company
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Ted Chung, chief executive officer of Hyundai Capital Services Inc., expects the shock wave from the coronavirus pandemic to hit the company later this year as government relief funds dry up and late payments and defaults rise.
But despite the troubling outlook, Chung, 60, says he has no plans to alter his ambitions to turn the company into a global financial powerhouse by expanding overseas and growing the business beyond auto financing and consumer lending.