According to Maeil Business News, Hyundai Capital has set up a joint venture with Europe-based Santander Consumer Finance to set up an installment financing company in the UK.
The JV has startup capital of 20 million pounds (36 billion won), and it is 49.99 percent owned by Hyundai Motor, Kia Motors and Hyundai Capital. It will begin operations in Q3 2012, and will provide automobile financing services to local customers that purchase cars from Hyundai and Kia.
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