Hyundai's software arm committed 114.6 billion won to a GPU company it will part-own.

Reported because the board resolution sits on Korea's disclosure system, whose search returned no rows for us this morning, and the exchange's own disclosure site refused us with a 403. Hyundai Motor Group's English newsroom also refused us. Four Korean outlets carry identical figures from the filing. Verification event: the disclosure becoming readable at dart.fss.or.kr, or a Hyundai release naming the 2 special purpose companies, by November 30.

Reported from 4 Korean outlets carrying the same figures from one regulatory disclosure. Hyundai AutoEver, Hyundai Motor Group's software affiliate, disclosed on October 30, 2026 that its board had that day approved a subscription for shares in a planned special purpose company. The reported terms: 114,608,000,000 won, for 1,146,080 shares, giving a 26% stake; the sum equals 6.1% of Hyundai AutoEver's consolidated equity of 1,874,718,900,000 won; payment runs in 6 tranches from 2026 through 2031, with an expected acquisition date of December 31, 2031. The target carries the provisional name HMG AI Factory and is to be established in November 2026. No put option was reported. On the wider project, reported the same day: Hyundai Motor, Kia, Hyundai Mobis, Hyundai Engineering and Construction and Hyundai AutoEver took a final investment decision on an AI data centre at Saemangeum, reclaimed land at Gunsan in North Jeolla province, about 200 kilometres southwest of Seoul. Two special purpose companies are to be formed next month: one to build the data centre and its infrastructure, one to secure graphics processors and sell computing services. The group opened an on-site office, the HMG Saemangeum Office, at the Korea Automotive Technology Institute's Future Mobility Tech Center in Gunsan, with about 30 people attending including the North Jeolla governor, Lee Won-taek. Groundbreaking is set for March 2027 and commercial service for early 2030. The reported breakdown of a 9 trillion won regional total: 5.8 trillion won for the AI data centre, 2.3 trillion won for water electrolysis and solar power, 400 billion won for a robot plant, and 400 billion won for autonomous mobility and an AI hydrogen city. Financing is said to be coordinated under a memorandum with the Korea Development Bank. Executive vice president Shin Seung-kyu is quoted calling the office a symbol of pushing the project forward without wavering. Not established: the data centre's capacity, the other 4 affiliates' amounts, and the partners said to be in talks.

1. Sep 12

   Reported: Korean coverage put Hyundai Motor Group's Saemangeum commitment at about 9 trillion won, framing it as the end of decades of unfulfilled plans for the reclaimed land.

2. Sep 2026

   Reported: the group set up a separate vehicle for a 200 megawatt solar power project at the same site, the first of the Saemangeum entities to exist.

3. Oct 29

   Edition 065 carded Korea's Ministry of SMEs and Startups committing more than 5 trillion won through 2030 to put AI and robots into small factories, with AI adoption rising from about 1% to 10%.

4. Oct 30

   Hyundai AutoEver's board approved 114.608 billion won for 26% of the planned GPU services company, and the group opened an office at Gunsan with the provincial governor present.