Disclosure Decoder #004: Hyundai Motor Cancels KRW 476 Billion and Reports It as KRW 789 Billion
The board resolved on 26 August to cancel 1,291,274 common and 1,214,332 preferred shares. Item 4 reports the amount as KRW 789.1 billion. The notes give a second figure, KRW 476.4 billion, the carrying value. Only one of them is the cost.
The Filing
Hyundai Motor filed a share cancellation decision with DART on 26 August 2026. Execution is scheduled for 31 August, a date the filing reserves the right to move.
What It Literally Says
The board resolved on 26 August, six of seven outside directors present, to cancel 1,291,274 common and 1,214,332 preferred shares, all treasury stock already owned. No new purchase window opens. Item 4 reports the amount as KRW 789.1 billion (~$570M) at the 25 August close. The notes give a second figure, KRW 476.4 billion (~$344M), the carrying value at average acquisition cost. Legal basis is the Article 343(1) proviso of the Commercial Act: cancellation out of distributable profit on a board resolution alone. Share count falls, paid in capital does not.
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