HD Hyundai (267250) said in an amended filing that subsidiary HD Hyundai Oilbank's funding-support guarantee to its petrochemical joint venture — recently renamed from HD Hyundai Chemical to H&L Advanced — falls to KRW 250 billion from KRW 300 billion, as Oilbank's ownership in the venture drops to 50% from 60%.
The guarantee amount is contractually tied to Oilbank's ownership share, the filing said. Oilbank's total outstanding guarantees across its affiliates now stand at KRW 2,455.6 billion, still dominated by a KRW 1,500 billion facility backing HD Hyundai E&F's natural-gas purchase contract with state gas utility KOGAS through 2034.
The filing traces to a Korean government "corporate vitality" restructuring program under which HD Hyundai Chemical and Lotte Chemical have been consolidating overlapping petrochemical capacity. The renaming to H&L Advanced alongside the ownership shift toward a 50-50 split points to Oilbank and Lotte Chemical rebalancing toward equal partnership in what was previously an HD Hyundai-controlled entity.
Oilbank's KRW 2,455.6 billion in total guarantees is about 14.8% of HD Hyundai's own KRW 16,549.1 billion market capitalization.
16,549.1 billion won market cap.
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| Symbol | Last Price |
|---|---|
| 267250HD Hyundai Co., Ltd. | ₩240,500 +12.6% |