Hyundai Capital Signs 'Eco-Friendly Electric Vehicle Transition' Business Agreement with GeoYoung Group

Leading the Expansion of Eco-Friendly Electric Vehicle Adoption

Mok Jin-won, CEO of Hyundai Capital (left), and Kim Jin-tae, President of Geo Young (right), held a business agreement ceremony for the transition to eco-friendly electric vehicles at the Hyundai Capital headquarters located in Yeouido, Seoul, on the 24th.

[Asia Economy Reporter Ki Ha-young] Hyundai Capital is joining forces with the largest pharmaceutical distribution company in Korea, the Gioyoung Group, to expand the supply of eco-friendly electric vehicles.

On the 25th, Hyundai Capital announced that it had signed a business agreement with the Gioyoung Group to implement the government's eco-friendly New Deal policy and promote the spread of eco-friendly electric vehicles. The signing ceremony, held at Hyundai Capital's headquarters in Yeouido, Seoul, was attended by Mok Jin-won, CEO of Hyundai Capital, and Kim Jin-tae, President of Gioyoung.

Through this agreement, the two companies agreed to become exemplary cases of ESG (Environmental, Social, and Governance) management and demonstrate that electric vehicles can create new value beyond being just company cars.

As part of this agreement, the Gioyoung Group will convert 48 company vehicles to Hyundai Motor Company's new electric vehicle, the Ioniq 5, and will gradually replace all company vehicles, including large trucks, with eco-friendly vehicles.

Hyundai Capital will also support the installation of 100kW fast chargers at Gioyoung Group business sites to facilitate the expanded use of electric vehicles.

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