Hyundai succession stalls as Glovis block falters

The long-anticipated handover from father to son at Korea's second largest Chaebol has failed to move up a gear after share sale is cancelled.

Hyundai succession stalls as Glovis block falters

The heir apparent and current chairman of Korea's second biggest Chaebol failed to sell shares in Hyundai Glovis on Monday night in a move that should have paved the way for the succession of father to son. 

Chung Eui-sun and his father Chung Mong-koo hoped to raise up to $1.25 billion by offloading a combined 13.4% stake in Hyundai Glovis, the group's logistics and shipping arm.

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