S. KOREA’S CONSUMPTION EXPENDITURE ON TOURISM DECLINES IN 2020

Highlights –

• S. Korea’s consumption expenditure on tourism declines in 2020.
• Foreigners' spending in the domestic tourism and leisure sector plunged by nearly 80%.
• Foreigners' spending plummeted 76.6 percent to 1.66 tril...

SHINHAN CARD TO BUY HYUNDAI’S ASSETS FOR RENTAL CARD BUSINESS

Highlights:

• Hyundai Capital’s assets will be bought by Shinhan Card.
• The assets will be related to long-term car rental services which will be worth 500 billion won which is equivalent to $417.3 million.
• The companies signed the deal ...

TADA TO INDEFINITELY TERMINATE SERVICE BY APRIL

Highlights –

• Tada service operator VCNC decided to terminate service on April 10, 2020
• South Korea’ transportation law made an amendment, with regards to usage of rental vans
• Investors in Tada have also stopped investments due t...

HYUNDAI GROUP TO EXPAND INTO CAR RENTAL BUSINESS IN EUROPE

Highlights –

• Hyundai Capital Service acquires Sixt Leasing SE
• Hyundai to expand business in Europe with car rental service
• Hyundai Motor Group announced $500 Million spending

South Korean auto giant Hyundai Motor Gr...