Hyundai AutoEver to pay 114.6bn won for 26% of a group GPU-as-a-service venture
Hyundai Motor Group's software and IT arm told Korea's disclosure system it would pay 114.6 billion won in six installments to 2031 for a 26 percent stake in a company not yet formed, which will build and operate GPU capacity and sell it as a service.
Hyundai AutoEver’s board resolved on October 30 to acquire 1,146,080 shares in a new company for 114,608,000,000 won in cash, a stake of 26.0 percent after completion, and filed the decision with Korea’s Financial Supervisory Service the same morning. The filing gives the company’s provisional name as HMG AI Factory, its nationality as South Korea and its main business as graphics processing unit services. The stated purpose of the acquisition is to pursue a GPU-as-a-service business.
The issuer does not exist yet. The filing records that it is due to be newly established in November 2026, omits its capital, total shares and representative for that reason, notes that the name may change, and says the company is expected to be brought into the group as an affiliate after the investment. The money is to be paid in six installments between 2026 and 2031, a schedule the filing says may change, and the acquisition date is recorded as December 31, 2031. According to the supplementary notes, the venture will build and operate GPU and other AI computing infrastructure in an AI data center and provide GPU-as-a-service and cloud computing from it, using other sites until construction is complete.
Measured against Hyundai AutoEver’s own FY2025 consolidated accounts, the commitment is 6.1 percent of equity of 1,874,718,905,000 won and 3.2 percent of total assets of 3,605,190,886,000 won. Five outside directors attended the board meeting and none was absent. The filing states that notification to the Korea Fair Trade Commission is not required for the November 2026 installment, while later installments may qualify depending on size. It does not name the holders of the remaining 74 percent. Hyundai AutoEver’s English newsroom carries nothing newer than January 2026 and no item on the venture, so the filing is the only first-party record of the transaction this report could read.