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HYUNDAI MOTOR COMPANY I 2008 AnnuAl RepoRt I 
HYUNDAI MOTOR COMPANY AND SUBSIDIARIES
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ETHICS COMMITTEE
We established the Ethics Committee, which monitors internal transactions and supervises transparency and ethics management. The Ethics Committee consists
of five external directors, one executive, and two advisors (independent). Duties of the Ethics Committee are establishment, amendment of codes of ethics and
assessment of implementation, fair trade law, internal trade chosen by the commercial law, voluntary compliance with fair trading regulations, major policies on
social contribution and etc.
2008 Activities of the Ethics Committee
Meeting Issues Approval
1st Meeting January 24 Major plan related social contribution of 2008
Payment guarantee for local financing for overseas Hyundai Motor Companies
Transactions with the largest shareholder
Reporting
- trade performance with subsidiaries reporting of 2007
- internal transactions in the 4th quarter of 2007
- social contribution in the 4th quarter of 2007
- transaction of contribution of the second half of 2007
- implementation of the Workplace Ethics in the second half of 2007
Approved as drafted
2nd Meeting April 24 Payment guarantee for local financing for overseas Hyundai Motor Companies
Transactions with the largest shareholder
Financial transaction with financial subsidiaries upon agreement
Reporting
- internal transactions in the 1st quarter of 2008
- social contribution in the 1st quarter of 2008
Approved as drafted
3rd Meeting July 24 Payment guarantee for local financing for overseas Hyundai Motor Companies
Transactions with the largest shareholder
Financial transaction with financial subsidiaries upon agreement
Participation in capital increase with consideration with subsidiaries
Reporting
- internal transactions in the 2nd quarter of 2008
- social contribution in the 2nd quarter of 2008
- transaction of contribution of the first half of 2008
- implementation of the Workplace Ethics in the first half of 2008
- compliance program on fair trading
Approved as drafted
4th Meeting October 23 Payment guarantee for local financing for overseas Hyundai Motor Companies
Renewal of Support Agreement of Hyundai Capital
Transactions with the largest shareholder
Financial transaction with financial subsidiaries upon agreement
Reporting
- internal transactions in the 3rd quarter of 2008
- social contribution in the 3rd quarter of 2008
- schedule of a meeting of regular the Ethics Committee of 2009
Approved as drafted
62 I INDEPENDENT AUDITORS’ REPORT
63 I CONSOLIDATED BALANCE SHEETS
66 I CONSOLIDATED STATEMENTS OF INCOME
68 I CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
70 I CONSOLIDATED STATEMENTS OF CASH FLOWS
73 I NOTES TO CONSOLIDATED FINANCIAL STATEMENTS