Hyundai Capital’s My Business

New product ‘My Business’ is tailor-made for entrepreneurs

By Kim Jae-won
Staff reporter

Hyundai Capital's new product "My Business" is gaining popularity among the self-employed for its fast and convenient services. It is easier to get loans because it does not require any documents to prove income, but evaluates based on only the credit ratings of customers. So, the process is simple, and the loan is provided without much hassle.

The interest rate is also relatively low at less than 30 percent. Entrepreneurs can borrow small sums up to 5 million won ($4,100) through the product, while other companies provide only 3.5 million to 4 million won.

In addition to microcredit financing, Hyundai Capital provides various financial services for the self-employed. The firm issues "My Business Card," specialized for self-employed clients. The cardholders can get an additional discount for auto leasing and rental fees.

Hyundai Capital also provides business loans of up to 50 million won with 8.59 percent annual interest. Customers have up to 48 months to repay the loan. The firm also provides consulting services on tax, accounting, law and real estate.

In addition, insurance products titled "My Business Comprehensive Insurances" can be obtained from Hyundai Capital. It covers all kinds of situations, such as fire, theft, electronics and gas accidents. The insurance premium ranges from 27,000 won to 35,000 won per month.

"Customers can reduce their expenses and save time with the products," an employee of Hyundai Capital said. Customers can call 1588-0101 for more information.

Various other services, too, such as auto financing, personal loans, and mortgage loans are available. Hyundai Capital is the No. 1 player in auto financing and leasing in Korea. It applies rigorous management guidelines and has a solid financial structure supported by credit lines from leading financial institutions.

All these aspects combined verify Hyundai Capital's growth potential and gain wide recognition. Further, it has the most diversified funding portfolio in the nation. Its varied workplace and human resources innovations are widely studied by firms and organizations at home. Hyundai Capital was named the "Talent Management Company of the Year."

Hyundai Capital is supported by the Hyundai-Kia Automotive Group and GE Capital, its two biggest shareholders.

The management philosophy of Hyundai Capital is based on strategy, speed, innovation, and never ending changes.