NU Online News Service, Jan. 17, 6:14 p.m. – American International Group Inc., New York, has called off negotiations to invest in three financial services affiliates of the Hyundai Group, Seoul, after months of announcements and rumors.
The company put out a statement emphasizing its commitment to its own well-established operations in the Korean market but giving up on a "memorandum of understanding" with the Korean Financial Supervisory Commission.
The memorandum, signed in August 2001, said AIG would negotiate with regulators and company executives about the possibility of acquiring Hyundai Investment Trust and Securities Company, Hyundai Investment Management Company Ltd. and Hyundai Securities Company Ltd.
