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112 HYUNDAI MOTOR COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2007 AND 2006
(7) As of December 31, 2007, 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)
(KRW In millions) (In thousands)
Dymos Inc. Seoul Guarantee Insurance Company KRW 8,899 $9,485
KEFICO Corporation Korea Exchange Bank USD 79,000 79
Korea Exchange Bank JPY 427,353,000 3,794
Korea Exchange Bank EUR 237,000 349
Seoul Guarantee Insurance Company KRW 107 114
Hyundai Rotem
(Formerly, ROTEM) Machinery Insurance Cooperative KRW 1,241,414 1,323,187
and others USD 204,311,334 204,311
EUR 181,765,268 267,603
CAD 8,032,593 8,193
HKD 45,138,196 5,786
SGD 11,409,023 7,891
BRL 5,000,000 3,086
TND 1,500,000 1,250
TWD 6,870,312 236
Hyundai Card Co., Ltd. Seoul Guarantee Insurance Company KRW 18,534 19,755
WIA Corp. The Export-Import Bank of Korea USD 40,526,507 40,527
Shinhan Bank USD 128,374 128
Woori Bank USD 483,067 483
Machinery Insurance Cooperative
and others KRW 152,044 162,059
Hyundai Autonet Financial Institutions KRW 21,717 23,147
Hyundai Motor Manufacturing
Alabama LLC Goldman Sachs and other KRW 633,249 674,962
(8) The Company and Kia Motors Corporation made an agreement with its European sales subsidiaries and agents for them to be
responsible for projected costs for dismantling and recycling vehicles sold in corresponding countries to comply with European Parliament
directive regarding End-of-Life vehicles (ELV).
(9) In 2006, the Company sold 10,658,367 shares of Hyundai Rotem (Formerly, ROTEM) to MSPE Metro Investment AB and entered into a
shareholders’ agreement. MSPE Metro Investment AB is entitled to put option to sell those shares back to the Company in certain events
(as defined) in accordance with the agreement.
(10) Hyundai Capital Co., Ltd., one of domestic subsidiaries of the Company, made a credit facility agreement on a US$ 600 million
renewable one-year revolving credit facility up to 3 years to be provided by General Electric Capital Corporation (the “GECC”) to Hyundai
Capital Co., Ltd. on January 13, 2006. Under the terms of such agreement, Hyundai Capital Co., Ltd. shall pay commitment fee of Libor+90bp
for the usage of facility and 20bp for the remaining. Also, the maturity of individual draw-down is within 1 year from the time of withdrawal
and in case of termination, the maturity for previous withdrawals can be extended to 1 year from the time of termination. In addition, Hyundai
Capital Co., Ltd, GECC and the Company made a support agreement on credit facility agreement on the same date of the credit facility
agreement. According to the support agreement, when Hyundai Capital Co., Ltd cannot redeem in a year after the withdrawal, GECC has