Hyundai Department Store Group Considers Partial Sale of Hyundai Rental Care Shares
[Asia Economy Reporter Lee Jung-yoon] Hyundai Department Store Group is reportedly considering selling a portion of its stake in Hyundai Rental Care.
According to industry sources on the 16th, Hyundai Department Store Group is reviewing a plan to sell part of Hyundai Rental Care's shares held by Hyundai Home Shopping to M Capital (formerly Hyosung Capital).
The scale and amount of the sale have not yet been determined. Established in 2015, Hyundai Rental Care provides rental services for water purifiers, air purifiers, bidets, and more. Although it had been operating at a loss until last year, it has posted profits each quarter since the beginning of this year.
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However, a Hyundai Department Store Group official stated, "Since the beginning of this year, we have recorded profits for three consecutive quarters, strengthening our competitiveness. We are reviewing various measures to maximize competitiveness by leveraging the advantage of having a loyal customer base, but no decisions have been made yet."
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