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HYUNDAI MOTOR COMPANY AND SUBSIDIARIES: Financial Statements 2002
Korean won U.S. dollars(Note 2)
(in millions) (in thousands) Percentage
Companies Acquisition cost Book value Book value Ownership (*2)
Hyundai Technology Investment Co., Ltd. 4,490 4,490 $ 3,740 14.97
Hyundai Unicorns Co., Ltd. 5,795 5,795 4,828 14.90
Hyundai Research Institute 1,271 1,271 1,059 14.90
Gyeongnam Credit Guarantee Foundation 2,500 2,500 2,083 13.66
Kihyup Finance, Inc. 3,700 3,700 3,082 12.75
SoltechIM Co., Ltd 157 157 131 10.47
Toba Telecom 405 405 337 10.02
3Gcore, Inc 225 225 187 10.90
Yonhap Capital Co., Ltd. 10,500 10,500 8,747 10.49
Hyundai Motor Deutschland GmbH 802 802 668 10.00
Hyundai Finance Corporation 9,888 9,888 8,237 9.29
Daejoo Heavy Industry Co. Ltd. 650 650 541 9.29
A.P. Co., Ltd. 550 - - 9.20
Namyang Industrial Co., Ltd. 200 200 167 8.00
KOENTECH (formerly Ulsan Environmental
Development) 1,550 1,550 1,291 7.75
Internet Hankyoreh Inc. 4,800 4,800 3,999 7.41
Hyundai Oil refinery Co., ltd. 88,857 88,857 74,023 6.33
Hyundai Asan Corporation 22,500 8,861 7,382 5.00
Yonhi Information & Communication Co.,
Ltd. 500 500 417 4.90
Dongwon Capital Co., Ltd. 3,000 3,000 2,499 4.62
U.S Electrical Inc. 2,204 2,204 1,836 3.80
ROTIS 1,000 1,000 833 3.76
Q&V Korea 400 400 333 3.70
Daishin Factoring Co., Ltd 2,000 - - 3.33
Korea Auto Industries Coop Association 16 16 13 2.06
ICOLS Inc. 160 160 133 2.50
KT ICOM Co., Ltd. (formerly I-COM) 18,000 18,000 14,995 1.00
Cheju International Convention Center 500 500 417 0.59
Kyongnam Shinmun Co., Ltd 20 3 2 0.28
Daewoo Commercial Vehicle 40 2 2 0.05
Daewoo Motor Co., Ltd. 2,213 - - 0.02
Space Imaging LLC 5,319 5,319 4,431 -
Machinery Insurance Cooperative 8,188 8,188 6,821 -
Other 15,544 14,832 12,356 -
281,712 262,543 $218,713
(*1) The equity securities of these affiliates were excluded from using the equity method since the Company believes the
changes in the investment value due to the changes in the net assets of the investee, whose individual beginning
balance of total assets or paid-in capital at the date of its establishment is less than 7,000 million ($5,831 thousand),
are not material.
(*2) Percentage ownership is calculated by combining the ownership of the Company and its subsidiaries.
HYUNDAI MOTOR COMPANY AND SUBSIDIARIES: Financial Statements 2002
Non-listed investments that are excluded from the consolidation and the application of the equity method as of December
31, 2001 consist of the following:
Korean won U.S. dollars(Note 2)
(in millions) (in thousands) Percentage
Companies Acquisition cost Book value Book value Ownership (*2)
Hyundai Motor Europe GmbH (*1) 5,590 5,590 $ 4,657 100.00
Yan Ji Kia Motors A/S (*1) 1,792 1,792 1,493 100.00
Hyundai Capital Asset Management Co.,
Ltd. (*1) 2,000 2,000 1,666 99.99
Hyundai Jingxian Motor Safeguard
Service Co., Ltd. (*1) 2,019 2,019 1,682 84.88
NGVTEK.com (*1) 700 700 583 68.30
Autoever Co., Ltd. (*1) 2,495 2,495 2,078 49.90
Kia Service Philippines Co. (*1) 185 185 154 20.00
Dongyong Industries Co., Ltd 240 240 200 19.23
Mobil Com.Co., Ltd. 1,800 1,800 1,500 18.07
Jinil MVC Co., Ltd. 180 180 150 18.00
Industri Otomotif Komersial 4,439 4,439 3,698 15.00
Korea Automotive Powertrain
Engineering Co. 150 150 125 15.00
Hyundai Technology Investment Co., Ltd. 4,490 4,490 3,740 14.97
Hyundai Unicorns Co., Ltd. 5,795 5,795 4,828 14.90
Hyundai Research Institute 1,271 1,271 1,059 14.90
Gyeongnam Credit Guarantee Foundation 2,500 2,500 2,083 13.66
Kihyup Finance, Inc. 3,700 3,700 3,082 12.75
Norrinet Co., Ltd 34 34 28 12.14
SoltechIM Co., Ltd 157 157 131 12.08
3Gcore, Inc 225 225 188 10.90
Yonhap Capital Co., Ltd. 10,500 10,500 8,747 10.47
Machinery Insurance Cooperative 3,070 3,070 2,558 10.38
Hyundai Motor Deutschland GmbH 802 802 668 10.00
Hyundai Finance Corporation 9,888 9,888 8,237 9.29
Daejoo Heavy Industry Co. Ltd. 650 650 541 9.29
A.P. Co., Ltd. 550 550 458 9.20
Namyang Industrial Co., Ltd. 200 200 167 8.00
KOENTECH (formerly Ulsan
Environmental Development) 1,550 1,550 1,291 7.75
Internet Hankyoreh Inc. 4,800 4,800 3,999 7.41
Hyundai Oil refinery Co., Ltd. 78,134 78,134 65,090 6.33
Hyundai Asan Corporation 22,500 22,500 18,744 5.00
Yonhi Information & Communication Co.,
Ltd. 500 500 417 4.90
Dongwon Capital Co., Ltd. 3,000 3,000 2,499 4.62
Biomecha Ltd 100 100 83 4.00
U.S Electrical Inc. 2,204 2,204 1,836 3.80
ROTIS 1,000 1,000 833 3.76
O&V Korea 400 400 333 3.70
Daishin Factoring Co., Ltd 2,000 2,000 1,666 3.33
Jeonbuk corporation 100 100 83 2.84
Korea Auto Industries Coop Association 11 11 9 2.60
ICOLS Inc. 160 160 133 2.50
Alcan Taihan Aluminum Ltd. 30,815 21,003 17,497 1.26
I-COM 18,000 18,000 14,995 1.00
Kyongnam Shinmun Co., Ltd 50 33 27 0.63
Shinsegi Telecom Co. 837 837 697 0.41
Other 8,511 8,527 7,104
240,094 230,281 $191,837
70 71