S Korea's Hyundai Card to buy 50% stake in Vietnamese financial firm for $42m

A Hyundai Card displayed at Ultra Korea. Photo: Hyundai

South Korea’s Hyundai Card is set to acquire a 50 per cent stake in FCCOM, a consumer finance company led by Vietnam-based mid-range lender Maritime Bank (MSB), for nearly 49 billion won ($42 million).

The joint venture, that marks Hyundai Card’s first overseas market entry, is touted as the new growth engine in the Southeast Asian market, according to an announcement.

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