---
endpoint: analytics
pattern: Autos
status: done
latency_ms: 94778
conversation_id: 1ca4dd10-0ba4-43ae-98e9-3ffa5c77a260
citations: 4
created: 2026-05-31 21:28:25Z
---

# Who are the key shareholders of Hyundai Motor?

## Hyundai Motor Company (005380-KR) — Key Shareholders

Based on Hyundai Motor's own DART-filed annual and interim reports, the shareholder base is dominated by a "Hyundai MOBIS → Hyundai Motor → Kia → Hyundai MOBIS" circular ownership structure, with the founding Chung family in the second tier and the National Pension Service (NPS) as the largest non-affiliated institutional holder.

### Latest disclosed shareholder structure (as of Dec 31, 2025 / Sep 30, 2025)

| Rank | Shareholder | Shares (common) | % Ownership |
|------|-------------|-----------------|-------------|
| 1 | **Hyundai MOBIS** | 45,782,023 | **22.36%** [1][4] |
| 2 | **National Pension Service (NPS)** | 15,077,560 (as of 2023 disclosure)* | **~7.1%** [2] |
| 3 | **Chung Mong-Koo** (Honorary Chairman) | 11,395,859 | **5.57%** [1] |
| 4 | **Chung Euisun (Eui-Sun)** (Executive Chair) | 5,598,478 (as of 2023 disclosure)* | **~2.65%** [2] |
| 5 | Employee Stock Ownership Association | 3,095,779 | ~1.46% [2] |
| – | Other / Free float | ~130.6mn | ~61.7% [2] |

*The most recent FY2025 filings re-confirm the top holders Hyundai MOBIS (22.36%) and Chung Mong-Koo (5.57%) by name and share count [1][4]. NPS, Chung Euisun, and the Employee Stock Ownership Association rankings/percentages are from the detailed FY2023 shareholder table — the FY2024 and FY2025 financial-statement notes only re-disclose the top two by name, but the share counts for Mr. Chung Mong-Koo and Hyundai MOBIS have remained unchanged since 2023 [1][2].

### Key takeaways on the ownership structure

- **Hyundai MOBIS is the single largest shareholder** at 22.36% — and is explicitly identified as such in Hyundai Motor's corporate-governance disclosures, where related-party transactions with Hyundai MOBIS are pre-approved as "ordinary transactions under normal conditions" by the Sustainability Management Committee and the Board [3].
- **Circular cross-shareholding (the Hyundai Motor Group's defining feature)**: Hyundai MOBIS owns ~22% of Hyundai Motor; Hyundai Motor owns ~33.9% of Kia Corp; Kia owns ~17% of Hyundai MOBIS. This creates the closed loop that has historically given the Chung family control without requiring a holding company structure.
- **Founding Chung family direct stake** ≈ **~8.2% combined** (Chung Mong-Koo 5.57% + Chung Euisun ~2.65%). Combined with Hyundai MOBIS's stake (over which the family exerts effective control via the circular structure), the family controls a working majority of voting power [1][2].
- **National Pension Service (NPS)** at ~7.1% is the largest non-affiliated shareholder and the most important domestic institutional voice in shareholder votes [2].
- **Common shares issued**: 211,531,506 (with voting rights). Hyundai Motor also has three classes of non-voting preferred stock totaling ~62.6mn shares [2].
- **Listings**: KOSPI (since June 1974); previously also London and Luxembourg GDRs [2].

### Governance implications
- The 22.36% MOBIS stake is the structural anchor of family control — any unwinding of the circular shareholding (a recurring market debate around a potential Hyundai Motor Group holdco conversion) would re-rate the entire group.
- NPS at ~7% is large enough to swing contested votes (board appointments, charter amendments), as has occurred in prior AGMs in the Korean chaebol space.
- The free float is sizable (~62%) but fragmented across foreign and domestic institutions plus retail, which leaves the Hyundai MOBIS + Chung family bloc as the dominant decision-making coalition.

### A note on internal coverage (CLSA RMS)
No dedicated CLSA note in the workspace addresses Hyundai Motor's shareholder register specifically; CLSA documents referencing ticker `005380` in the recent corpus (June 2025) are Japan/Asia autos sector commentaries and a Hyundai E&C company note, which mention HMC in passing rather than dissecting ownership. The shareholder structure above is therefore sourced from Hyundai Motor's own DART annual/interim filings rather than CLSA research.

---
**Sources**
[1] Hyundai Motor Co., Ltd. (005380-KR) — Annual Report for period end 31-Dec-2025 (DART, English version)
[2] Hyundai Motor Co., Ltd. (005380-KR) — Annual Report for period end 31-Dec-2023 (DART, English version) — full shareholder table as of 31-Mar-2023
[3] Hyundai Motor Co., Ltd. (005380-KR) — Annual Report for period end 31-Dec-2023 — Corporate Governance / Shareholder Interest Protection section
[4] Hyundai Motor Co., Ltd. (005380-KR) — Interim Report for period end 30-Sep-2025 (DART, English version)

## Citations

- [1] **Hyundai Motor Co., Ltd. (005380-KR) - Annual Report for period end 31-Dec-2025 (English) - PDF** · external
- [2] **Hyundai Motor Co., Ltd. (005380-KR) - Annual Report for period end 31-Dec-2023 (English) - PDF** · external
- [3] **Hyundai Motor Co., Ltd. (005380-KR) - Annual Report for period end 31-Dec-2023 (English) - PDF** · external
- [4] **Hyundai Motor Co., Ltd. (005380-KR) - Interim Report for period end 30-Sep-2025 (English) - PDF** · external

