Hyundai Motor Group now holds the largest stake in South Korean telecom giant KT Corp. after completing a public interest review, which confirmed that the ownership change does not pose risks to public interests.
The automotive group secured an 8.07% stake in KT as of June, with Hyundai Motor Co. holding 4.86% and Hyundai Mobis Co. 3.21%. This shift followed the National Pension Service’s sale of a portion of its KT holdings in March.
Despite becoming the largest shareholder, Hyundai Motor Group is expected to take a passive investment approach, with no direct control over KT’s management. The group’s involvement in KT has largely focused on collaboration in advanced vehicle technologies, including autonomous driving and urban air mobility (UAM). Both companies are part of the Korea Urban Air Mobility (K-UAM) consortium, aimed at developing electric vertical take-off and landing (eVTOL) aircraft for urban transportation.
This strategic partnership underscores Hyundai’s broader push into future mobility technologies, leveraging KT’s expertise in telecommunications and digital infrastructure.
