The Hyundai Group - money good?

Rumours of Hyundai''s demise are greatly exaggerated. Despite the bad publicity of late, the group has strong cash-generating potential and contingency risks have been largely contained.

May and June were busy months for the Hyundai Group, which has been squarely in the public spotlight for two key reasons. First, the requests for extensions of overdraft limits from Hyundai Engineering Construction and Hyundai Merchant Marine to their creditor banks. Second, a glaring W1.2 trillion $1.08 billion negative net asset situation at Hyundai Investment Trust Securities.

The immediate cause of these problems was the Daewoo default last year. This event caused direct losses to be absorbed by...

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