Hyundai Motor Group on Tuesday categorically denied market speculation that it may be interested in buying Hyundai Merchant Marine and Hyundai Heavy Industries, to put the two ailing firms under its umbrella.

The automaker has been mentioned in the market as a potential candidate to take over the debt-ridden firms.

“The company plans to concentrate on having a competitive edge in the auto sector. We have nothing to do with and have no interest in the shipbuilding and shipping areas,” Yonhap News Agency quoted a senior executive from the group as saying.

“Hyundai Motor used to be mentioned as a potential buyer for many firms but we rarely acquired a company unrelated to cars,” adding, “We are currently pouring all of our energy into the auto sector.”

Although the three share the same roots -- Hyundai founder Chung Ju-yung -- carmaker Hyundai Motor, container shipper Hyundai Merchant Marine and shipbuilder Hyundai Heavy now belong to three different groups.

Hyundai Motor Group is led by Chung Mong-koo, the eldest son of the late founder. Hyundai Merchant is run by Hyun Jeong-eun, widow of the founder’s fifth son Chung Mong-hun, while Hyundai Heavy Industries is led by the sixth son, Chung Mong-joon.

(shinjh@heraldcorp.com)