The comments came after a unit of U.S. activist hedge fund Elliott Management said it held more than $1 billion of shares in three key Hyundai Motor Group affiliates and called for more to be done to reform the family-owned conglomerate.

"We will make continued efforts to enhance corporate value and investor interest going forwards and plan to faithfully communicate with shareholders in South Korea and overseas," Hyundai Motor Group said in a statement.

(Reporting by Hyunjoo Jin; Editing by Stephen Coates)