S.Korea's Hyundai Group aims to raise $3 bln; selling finance units
SEOUL Dec 22 (Reuters) - South Korea's Hyundai Group said on Sunday it plans to raise more than 3.3 trillion won ($3.11 billion) by selling off its three financial units and taking other measures to address a liquidity crunch.
Hyundai Securities Co Ltd will be among the units offered for sale, the group said in a statment.
"We have come up with preemptive and voluntary measures to ease market concerns, even though we have enough cash by the first half of 2014," the statement said.
The statement added it would focus on shipping, logistics, manufacturing and inter-Korean business projects in the future.
Hyundai Group's affiliates include Hyundai Merchant Marine Co Ltd and Hyundai Elevator Co Ltd.
($1 = 1060.1000 Korean won) (Reporting By Jane Chung; Editing by Simon Cameron-Moore)
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