Hyundai Mobis shares rose 2.4 per cent, the most more since April 4, to close at 237,000 won in Seoul, while the benchmark Kospi index rose 0.6 per cent.
Chung said he wasn’t fazed by Elliott.
“That’s the way they do business,” Chung said. “We will listen carefully and if there are proposals that bring benefits to our company and other shareholders, we will review some of that.”
Though Chung acknowledged that Mobis needs to do more to win over shareholders, he said his broader plan for the group centers on transforming Mobis from a simple parts maker to a cutting-edge, technology-centered automotive supplier that would challenge Germany’s Robert Bosch GmbH and lead the entire group in profits. That way, earnings would rise and return…
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