+ Publier publicitaire GRATUIT !
Stats d'annonce: Dernier 24h - 62, actuel - 1097, total - 80857

Hyundai Spooks Investors by Paying $10B for New Gangnam HQ Location

19 Septembre 2014 - Autoblog

Hyundai Spooks Investors by Paying $10B for New Gangnam HQ Location

Doing things Gangnam style apparently costs a serious chunk of change, because Hyundai is reportedly paying roughly $10 billion for 19.6 acres (79,342 square meters) of land in the trendy district of Seoul, South Korea, to serve as the location for its new headquarters.

That eye-popping number represents the highest amount ever paid for a plot of land in South Korea, according to Reuters. The hefty price tag reportedly scared investors enough for stock prices to sink dramatically.

Shareholders were apparently upset because the massive outlay could instead have been put back into the company for research and development or other improvements. Instead, the company reportedly bid triple the land's appraised value, says Reuters. The announcement caused Hyundai's stock price to plummet a massive 9 percent, and there were losses from Kia and the company's parts arm, as well. All told, the three of them lost nearly $8 billion in value from the falling share prices – almost enough to pay for the controversial land.

Hyundai currently has its headquarters on the outskirts of Seoul, but seems keen to move to the high-end Gangnam district to show off its rising status. It plans to build a new office complex, hotel, convention center and theme park on the site. According to an analyst speaking to Reuters, that could all cost an additional $6 billion to complete.

"In order to achieve production capacity of 10 million cars and bolster brand value that befits a global top-five company, we need a global business center. The bid is the result of comprehensively reviewing its value as a symbol of the group's second growth phase," a Hyundai spokesperson told Reuters. The company and electronics giant Samsung were both bidding to buy the land from Korea Electric Power, but clearly the automaker was willing to pay anything to get it.

 

Nouvelles par Tags

2011 models2012 models3D printing458 italia6-series coupeA1A2abc motorsabu dhabiaccidentaccidentsaccordACIMacuraadvertisingafricaAIairbagairbagsairbusairportalcotestalfaalfa romeoalgeriaalpineamazonamphibiousandroidAnil Bachooappappleappointmentsappsarabiaargentinaarnold schwarzeneggerArtashok leylandasiaastonaston martinauctionaudiaustraliaaustriaautoauto shanghaiauto showautonomous carautonomus carAutopilotaventadorawardsAxessBagatellebahrain grand prixBAIBaie-du-TombeaubajajBangkok International Motor ShowBangkok Motor ShowBangladeshbatmobilebatterybattlebeachesBeau-BassinbeetleBeijing Motor ShowBelgiumbentleybernie ecclestonebetamaxbetamax casebicyclebicyclesbikebikesbiodieselbmwboatboatsBogota Auto ShowBois-Marchand accidentBologna Motor ShowbondboschBPObrabusbrakesbrazilbribebribesbridgestonebriobudgetbugattibuggybuickburnoutbusbusesbuyingbydcadillaccalebassescamaroCanadacarcar buying tipscar dealerscar importcar marketcar rentcar rentalcar salescar servicecar sharingcar theftcar washcarbon fiberCarPlaycarscartingCaudanCCIDCCTVCEBcelebretiescelebritiesCESChamp-de-MarsChengdu Motor ShowcherychevroletChicago Auto ShowchinaCHINESE GRAND PRIXChris Evanschryslercitroencivicclassicclassic carsclassicscommercialcomparisonconceptconceptsconsumer reportsconvertiblecoromandelcorruptioncorvetteCourtCourtsCPBcr-vcrashcrash testcrash testscrossovercrowdfundingCubaCurepipecustom carCUVCWAdaciadaihatsudaimlerdakardartzdash camdashcamdatsunDelhi Auto ExpodesignDetroitDetroit Auto Showdieseldiesel scandalDIYDLCdodgeDPPdragdrag battledrag racedrag racingdriftdriftingdriverless cardrivingdriving licensedriving schooldriving schoolsdriving testdriving tipsdronedronesdrugsdrunk drivingdsDubaiDubai Motor ShowducatiearthquakeEbayebeneecoecologyeconomyelectricelon muskengen motor showengineenginesEOCethanoletios livaEUEuropeeveventsexpofacebookfakeFast And FuriousFernando AlonsoferrariferryfiatfiestafilmsfinancesfinefinlandFirefiskerfitness centerFlacqFlic-en-FlacFloodsflying carFootballForbach accidentforce indiafordformula1forza motorsportFrancefrankfurtfrankfurt motor showfraudFSCfuelfuel economy scandalfuel pricefuel stationfuel stationsfunnyfutureGaikindo Indonesia International Auto ShowgamesgeargeelygenesisGeneva Auto Showgeneva motor showGermanygirlsgmgodzillagolfGoodlandsgoodwoodgooglegoogle glassGoProgovernmentgpsgran turismogrand tourgreat wallgreecegreengreen energygrnoGRSE accidentGTAGymkhanahackershakershamannharley-davidsonHatchbackhellcatherohistoryhitachiholdenHollandHollywoodhondaHong Konghorsepower falsifyinghospitalshot wheelshotelhotelshoverbikehoverboardhow toHuayrahummerhumorhurricanehybridhydrogenhyundaii3i40ICACiframacIIHSillegal racingIMCimportindiaIndian MotorcycleIndian OilindicaIndonesiaIndonesia International Motor Showindonesia motor showinfinitiInfinityinfrastructureinsuranceintelinteriorinteriorsiPadiphoneiranirelandIRPisraelisuzuitaliaItalyjaguarjamesjames bondJames Mayjapanjapaneese carsjapanese carjapanese carsjazzJDMjeepJeremy Clarksonjettakartkawasakikei carken blockKenyakhankiaKoenigseggkoreaKoshik ReesaulKTMLALA Auto ShowLa Vigielamborghinilancialandland cruiserland roverlawsleallegolexuslicenselight metroLionel Messilotuslow cost carLRTluxuryluxury carluxury carsm3mad maxMadagascarmahindramaintenancemalaysiamanmapsmarketmarketingmartinmarutimaruti suzukimaseratiMatt LeBlancMauritiansmauritiusmaybachmazdaMcLarenmecedesmercedesmetroMetro Expressmexicomichael schumacherMicrosoftMidlandsminimitsubishiMMMmonacomonaco grand prixMontebello accidentmontereymoparMoroccomotomotormotor showMotor vehicle test centremotorcyclemotorcyclesmotorsportmotorsportsmotosportmoviesmpvMRAmugenmuscle carMusicmustangmv agustaMVDANandanee Soornacknanonascarnavigation systemnavigation systemsNavin RamgoolamNCGNDUNepalnetherlandsnew carnew york auto shownew zealandnfsNHTSANigerianissanissannorwayNTANTCNurburgringoff-roadoffroadOlympic Gamesopelpaganipagani huayraPakistanPamplemoussespanasonicParisparis motor showparkingPebble Beachpenaltiespenalty pointsPetite-RivièrepeugeotPhilippinesPhoenixpickuppickupspininfarinapirelliPitonplayboyPNQpolandpolarispolicepoliticspollutionpontiacporscheporsheportPort LouisPort-LouisPPCPPPprankpricespriusproguardprotestsprotonPSApublic transportpublict transportQ3qorosquatre-bornesr8Raceracingrallyramrangerange roverratingsRDArecallrecallsrecordrecordsred bullreduitrenaultrenderingrent a carreplicaReunionRHTRiambelRichard DuvalRichard HammondrickshawrimacRing RoadrioRiviere-du-Rempartroadroad accidentroad rules & regulationsroad safetyRoad Traffic ActRoad Traffic Amendment Actroadsroads safetyrobotsRodriguesrolls-royceromeoRose-HillroverRoyal EnfieldRRSRSUrumoursRussiasaabsafetysafety ratingssafety testsafety testssalesamsungsamusao paulo auto showSao Paulo Motor Showsaudisaudi arabiascamscandalscaniaschool busscooterscootersseatsecond hand carssecond hand cars importself driving carself-drivingself-driving carself-driving carsSEMASEMA showSeoul Motor Showservice stationsShanghaishanghai motor showshelbyShellshowsingaporeskodaSlovakiasmartSobrinho caseSohail Sesungkursolar energysoreze accidentsoulsound systemssouthsouth africasouth koreaspainspare partsspeed camerasspeed limitspeedingsportSportscarspy shotsssang yongSsangYongstar warsstartupstatisticsSTCstreet racingstrikestudysubaruSudhir SesungkursudySunshine AutosupecarssupercarssurveySUVsuzukiSwedenswiftSwitzerlandTATaiwantakataTarisa Resorttatataxtax fraudtaxestaxiTBStechnlogytechnolgytechnologyTerre-RougeTerre-Rouge–Verdunteslatest driveteststhailandThailand International Motor ExpoThe Grand TourthefttipstiresTMRSUtokyoTokyo Auto Salontokyo motor showtoptop geartoyotatoystraffictrailertransformerstransporttrendstricksTriolettriumphtrucktruckstsunamituningTurkeytvstyresUAEuberUBSukukraineunionsuomuralUSused carused carsVacoasVacoas-Phoenixvanvarma casevehicle inspectionVehiclesvelostervenezuelaVictoria stationvideoVienna Auto ShowvietnamVintagevintage carsVipervivo energyvolkswagenvolvovwwheelsWorldyachtyamahayariszagato
Vendez Votre Auto