Hands loses 488.19 billion won Hyundai Motor wheel supply contract
HMC•Hands Corporation received notice on Nov. 4, 2026, that Hyundai Motor terminated its KRW 488.19 billion aluminum wheel supply contract. The contract represented 65.1% of Hands’ 2023 consolidated revenue.
1. Contract terminated
Hands Corporation said it received notice on Nov. 4, 2026, that Hyundai Motor had terminated a KRW 488.19 billion aluminum wheel supply contract. The contract, announced on May 3, 2024, covered the period from July 1, 2026, through Dec. 1, 2034.
2. Production halted
The contract value represented 65.1% of Hands’ 2023 consolidated revenue of KRW 749.5 billion. Production had halted at subsidiary HANDS 8 S.A., and a planned transfer to domestic factories preceded Hyundai Motor’s termination notice, which cited project delays.
