Hyundai Capital

1993 ~ 1999 - In December 1993, Hyundai Capital Services[2] had run under the name Hyundai Auto Finance overlooking automotive and housing finances until 1999, when it changed its name to Hyundai Capital Services.

2000 ~ 2010 - Hyundai Capital Services started its auto leasing business in 2001 with its inaugural product, “Just Drive.”[3] In October 2004, the company established strategic partnership with U.S. conglomerate General Electric.[4] 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.[5] The company in 2005 founded Hyundai Capital Skywalkers professional volleyball team and completed Skywalkers multi-base camp, Castle of Skywalkers.[6] Hyundai Capital Services obtained Information Security Management System(ISMS) ‘ISO27001’ certificate in January 2008.

2011 ~ Present - In July 2010, Hyundai Capital Services issued first bonds in Switzerland CHF 200 million -worth Eurobond. In January 2015, Hyundai Capital Services won the S&P credit ratings of A-.[7] Hyundai Capital Services issued US$500 million-worth green bond in March 2016, becoming the first private firm in Korea to issue such debt.[8] In March 2017 Hyundai Capital Services issued Kangaroo bonds worth AUD 400 million,[9] Hyundai Capital Services issued Hyunndai Capital's first and greatest dual tranche global bonds worth US$900 million with 5 and 10 years of maturity.[10] In September 2017, Hyundai Capital Services launched ‘Delivery Car’,[11] which service to deliver the car to the place of customer's choice. In May 2018, Hyundai Capital Services signed an MOU with KT to develop based on AI finance services.[12] In October 2018, Hyundai Capital Services rolled out ‘Easy Drive Program, which long-term rental car service for foreigners.[13]

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.[14]

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.[15][16]

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.[17] HCA’s Treasury department was recognized as the 2015 Top Treasury Team in the annual Adam Smith Treasury Achievement awards competition of Treasury Today.[18]

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.[19]

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.[20] 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.[21]

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 UK[22]

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.[23][24]

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.[25]