중앙데일리

Gov‘t Asks Hyundai to Resolve Investment Losses Itself

May 03,2000

The government has decided to offer liquidity support to the ailing Hyundai Investment Trust & Securities Co., only if the Hyundai Group finances 1.2 trillion won in investment losses through self-help measures to normalize the management of its financial unit.

Lee Ki-ho, senior presidential secretary for economic affairs, said at a press conference Wednesday, "The government has decided on the principle of offering financial assistance only if the Hyundai Group takes self-help measures to make up for the investment trust unit's shortfall in net capital [1.2 trillion won]." He added, "To my knowledge, Hyundai's major shareholders are currently reviewing a variety of measures, including contribution of their own holdings in non-listed stocks."

This marks the first time for the government to specify the exact amount that the Hyundai Group would have to finance on its own as the prerequisite to financial support from the government.

Presidential secretary Lee also said, "Approximately 40 trillion won in public funds is expected to be further necessary to rehabilitate Hyundai's investment and securities unit, including 30 trillion won to resolve existing insolvent obligations, and 10 trillion won in incentives for merger with a bank." As the government has promised not to create any more public funds requiring parliamentary approval, he said, it would come up with the necessary money by retrieving as much of the 64 trillion won already injected in public funds as possible. The government also plans to finance the necessary money in the form of the Korea Deposit Insurance Corporation (KDIC) taking out loans from financial institutions. The senior presidential secretary said the finance-economy minister would preside over a meeting with other related ministers next week to discuss concrete ways to secure additional public funds.

The Hyundai Group, whose founding family has shown reluctance to contribute private wealth to help rehabilitate its investment trust unit, also announced for the first time Wednesday that the owner family would make joint contributions of funds with majority shareholders and Hyundai affiliates to resolve the crisis in its financial arm.

A senior Hyundai executive said, "We are currently reviewing the possible contribution of private wealth by the founding family through its acquisistion of forfeited shares in the process of capital increases at Hyundai Investment Trust & Securities Co. Additional supplementary measures would be necessary, however, as such contributions would make it difficult for major shareholders to defend their managerial rights, as well as due to legal difficulties." The executive added that the Hyundai Group is discussing with the government on contributing assets in non-listed companies as well.








현대그룹 , 1조2천억원 부담해야

정부는 현대그룹이 현대투신의 경영정상화를 위해 스스로 1조2천억원을 부담할 경우에만 현대투신에 유동성을 지원하기로 했다.
 이기호(李起浩)청와대 경제수석은 3일 기자간담회에서 “정부는 현대그룹이 현대투신의 자본잠식(1조2천억원)부분을 먼저 해결해야 유동성을 공급하기로 원칙을 정했다”며 “현대 대주주들은 현재 비상장 주식의 출연 등 다양한 방법을 검토중인 것으로 안다”고 밝혔다.<관계기사 8면>
 정부가 현대투신 지원의 전제로 현대그룹이 책임져야할 자구노력 규모를 정확히 제시하기는 이번이 처음이다.
 李수석은 또 “앞으로 더 필요한 공적자금 규모는 기존 부실정리에 30조원,은행 합병에 대한 인센티브 제공에 10조원 등 최대 40조원이 들어갈 것으로 추정된다”면서 “그러나 정부는 국회동의가 필요한 공적자금은 더 이상 조성하지 않기로 약속한 만큼 이미 투입된 64조원을 최대한 회수하고 예금보험공사가 돈을 빌리는 등의 방법으로 재원을 마련하겠다”고 말했다.
 그는 “구체적인 공적자금 추가조성 방안은 다음주중 재경부장관 주재로 관계부처 장관들이 모여 논의하게 될 것”이라고 덧붙였다.
 한편 그동안 오너 일가의 사재출연은 곤란하다는 입장을 밝혀온 현대그룹은 이날 처음으로 총수 일가와 대주주·계열사의 공동 출자로 현대투신 부실 문제를 해결하겠다는 반응을 보였다.
 현대 고위 관계자는 “(현대투신에 대해)유상증자 이후 실권주를 총수 일가가 인수하는 사재출자 방안 등을 검토하고 있으나,오너 대주주의 경영권 방어가 힘들고 법률적으로도 어려운 점이 있어 보완책을 마련 중”이라고 말했다.그는 또 비상장 계열사 주식의 출자와 관련,“정부측과 의견을 조율해 검토하고 있을 것”이라고 말했다.








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