Hyundai Card is engaged in the credit card business and derives revenues primarily from fees and interest in respect of credit purchases (principally in single-payments and installment payments), cash advances and card loans.
As of December 31, 2011, the Hyundai Motor Group and affiliates owned 53.98% and GE Capital 43.00% of the Company’s outstanding shares, respectively.
The partnership with GE Capital, a global leader in consumer financing, has enhanced Hyundai Card’s management structure, financial profile and competitiveness. GE Capital plays a significant role in the management of HyundaiCard under a joint management structure and provides operational know-how through sub-committees such as the Risk Control Committee.
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