Hyundai Corporation is entering the manufacturing industry. On the 17th, Hyundai Corporation announced that it has signed a contract to acquire 77.6% of the equity in Sigma, a manufacturer of automotive interior parts, securing management rights.
Founded in 2007, Sigma is a manufacturer of automotive interior lighting and components, having first introduced 'ambient light' (mood lighting) to the domestic finished car industry. Sigma holds a market share of over 50% in the domestic ambient light market, supplying parts to over 30 models from finished car manufacturers, including Hyundai and Kia.
Hyundai Corporation plans to utilize its existing network to expand Sigma's customer base and seek opportunities for joint ventures when customer companies expand to overseas plants.
A representative from Hyundai Corporation noted, "We plan to partner with domestic and international corporations that have high growth potential not only in automotive parts manufacturing but also in various business fields such as eco-friendly waste resource recycling."