Hyundai 2006 Annual Report Download - page 122

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118
HYUNDAI MOTOR COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2006 AND 2005
(6) As of December 31, 2006, the Company’s consolidated subsidiaries have been provided for payment guarantee by other companies as
follows:
Consolidated Subsidiaries Company providing Amounts of Translation into
guarantee of indebtedness guarantee U.S. Dollars (Note 2)
(In thousands) (In thousands)
Dymos Inc. Seoul Guarantee Insurance Company KRW 5,510,000 $5,927
Korea Housing Guarantee Co., Ltd KRW 166,847,000 179,483
KEFICO Corporation Korea Exchange Bank USD 2,537 2,537
Korea Exchange Bank JPY 113,707 956
Korea Exchange Bank EUR 774 1,018
Seoul Guarantee Insurance Company KRW 105,000 113
ROTEM Machinery Insurance Cooperative KRW 1,177,819,000 1,267,017
and other USD 214,838 214,838
EUR 153,916 202,370
NTD 6,870 206
CAD 8,033 6,922
HKD 45,138 5,807
SGD 11,409 7,434
TND 1,500 1,163
TTD 5,000 800
Autoever Systems Corp. Korea Software Financial Cooperative KRW 42,460,000 45,676
Hyundai Card Co., Ltd. Seoul Guarantee Insurance Company KRW 23,888,000 25,697
WIA Corp. The Export-Import Bank of Korea KRW 26,107,000 28,084
Machinery Insurance Cooperative KRW 134,180,000 144,342
Hyundai Autonet Financial Institutions KRW 6,286,000 6,762
(7) The Company and Kia Motors Corporation made an agreement with its European sales subsidiaries and agents for them to be
responsible for projected costs for dismantling and recycling vehicles sold in corresponding countries to comply with European
Parliament directive regarding End-of-Life vehicles (ELV).
(8) In 2006, the Company sold 10,658,367 shares of ROTEM to MSPE Metro Investment AB and entered into a shareholders’ agreement.
MSPE Metro Investment AB is entitled to put option to sell those shares back to the Company in certain events (as defined) in accordance
with the agreement.
(9) Some directors of the Company and certain subsidiaries are sued in the Seoul District Court with respect to certain money transactions
of the prior years. Currently, it is impossible to reasonably measure the probability and amount of an outflow of resources required to
settle the consequence of this trial; however, the management estimates that the effect of this trial on the financial statements will not
be material. Therefore, no adjustment is reflected in the accompanying financial statements.
(10) The Company has been investigated by the Fair Trade Commission (FTC) in connection with business activities of the prior years.
Currently, it is impossible to reasonably measure the expenditure required to settle the consequence of this investigation: however, the
management estimates that the effect of this investigation on the financial statements will not be material. Therefore, no adjustment is
reflected in the accompanying financial statements.