[현대차 실용주의 사업재편]미완의 '현대엔지 IPO'…건설통합은 언제?

Hyundai Engineering's IPO is a strategic prerequisite for merging with Hyundai Construction, addressing governance risks while enabling the conglomerate to compete effectively in the consolidated design-procurement-construction (EPC) market. Separated legal entities in the current structure face licensing and project requirement constraints that limit global competitiveness, particularly in Middle East projects. The IPO also generates capital liquidity needed for Hyundai Group's core governance modernization objective—dismantling its circular shareholding structure and strengthening the Hyundai Mobis-centered control system.