Hyundai Group said Sunday it would secure around 3.3 trillion won ($3.1 billion) in emergency funds by selling its three financial units, including Hyundai Securities Co. This is part of its efforts to address the recent liquidity concerns in the market.“Though we have enough cash for the first half of next year, we have taken strong measures to ease the concerns of the market,” a Hyundai spokesman said. “We have repeatedly pondered the sale of financial organizations, which are among Hyundai Group’s mainstays.”By selling off Hyundai Securities Co., Hyundai Asset Management and Hyundai Savings Bank Co., the group is expected to secure around 700 billion won to 1 trillion won.On top of this, Hyundai Group will secure 1.5 trillion won by selling shares for Hyundai Merchant Marine Co.’s port terminal projects, and 480 billion won through sales of its properties, securities and vessels.The conglomerate’s effort to expand capital is expected to continue. It plans to obtain 320 billion won, attracting foreign capital through the sale of shares in Hyundai Merchant Marine Co., Hyundai Elevator’s paid-in capital increase and Hyundai Logistics Co.’s initial public offering. It will also raise 340 billion won by selling off the luxury Banyan Tree Hotel in central Seoul.Hyundai Group said the selloff would proceed by setting up a special purpose company which will transfer assets of financial organizations and discuss procedures with its main creditor bank Korea Development Bank and other financial companies.Under the plan, the group is expected to pay off its debt of around 1.3 trillion won, which will lower the debt ratio of the three main companies ― Hyundai Merchant Marine Co., Hyundai Elevator and Hyundai Logiem Co. ― from 493 percent in the third quarter to about 200 percent, and to secure over 2 trillion won of additional liquidity.By selling off financial businesses, Hyundai Group is expected to shift its focus to four main segments including Hyundai Merchant Marine Co.’s shipping, Hyundai Logiem Co.’s distribution, Hyundai Elevator’s industrial machine and Hyundai Asan Corp.’s inter-Korean business projects.The conglomerate is led by chairwoman Hyun Jeong-eun, the widow of the late group chairman Chung Mong-hun, a son of Hyundai founder Chung Ju-yung. The founder’s eldest son Chung Mong-koo leads Hyundai Automotive Group.By Shin Ji-hye