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068
KIA MOTORS 2006 Annual Report
The Company used unaudited financial statements of the above affiliated companies when applying the equity method of accounting. In the subsequent period,
the Company adjusts the difference between the unaudited and audited results. Historically, the differences have been immaterial.
Investments in affiliated companies accounted for using the equity method as of December 31, 2005 are as follows:
The Company used unaudited financial statements of the above affiliated companies when applying the equity method of accounting. In the subsequent period,
the Company adjusts the difference between the unaudited and audited results. Historically, the differences have been immaterial.
December 31, 2006 and 2005
Notes to Non-Consolidated Financial Statements
15,558,120
11,154,680
18,159,517
1,000,000
5,198
-
-
400,000
2,000
-
30,000
-
24,000,000
13,614,811
8,545,372
1,240,000
794,420
2,106,000
-
357,242
20,592,471
200,000
1,998,738
1,760,000
8,000
-
-
2,480,000
900,000
-
-
50,000
18.15%
13.91%
21.39%
100.00%
82.53%
100.00%
100.00%
100.00%
100.00%
100.00%
30.00%
50.00%
50.00%
45.37%
39.33%
40.00%
39.72%
35.10%
21.04%
29.00%
11.31%
20.00%
19.99%
8.00%
8.00%
30.30%
30.00%
31.00%
25.00%
100.00%
100.00%
24.39%
118,993
37,479
245,153
66,798
58,507
53,139
114,171
20,300
33,197
235,422
10,908
56,148
120,000
89,438
30,184
8,520
2,581
10,530
13,518
8,952
96,037
1,000
10,067
19,565
5
27,185
9,211
12,400
4,500
825
1,792
250
1,516,775
515,971
139,064
598,175
(13,939)
(40,956)
(45,764)
(31,062)
(65)
19,709
207,095
-
59,989
147,070
103,882
150,612
7,724
35,541
8,185
16,696
6,830
35,211
7,199
30,279
49,064
5
5,700
8,441
12,400
4,500
825
1,792
250
2,040,423
522,402
104,489
294,943
-
-
-
-
1,907
19,709
207,095
-
63,926
146,385
113,052
130,222
7,724
34,052
8,225
16,720
7,459
61,861
7,199
25,977
42,628
5
23,998
8,652
12,400
4,500
825
1,792
250
1,868,397
￦
￦
Net assetsCost
Percentage of
ownership
Shares ownedCompany Balance at
December 31, 2005
Listed:
Hyundai Mobis Co., Ltd.(*1)
Hyundai Hysco Co., Ltd.(*1)
Hyundai Steel Company
(formerly, INI Steel Co., Ltd.)
Unlisted:
Kia Motors America, Inc.
Kia Canada, Inc.
Kia Motors Deutschland GmbH
Kia Motors Europe GmbH
Kia Tigers Co., Ltd.
Kia Japan Co., Ltd.
Kia Motors Slovakia S.r.o.
PT. Kia Timor Motors
Dongfeng Yueda Kia Motors Co., Ltd.
Hyundai Powertech Co., Ltd.
Dymos Inc.
WIA Corporation
Haevichi Resort Co., Ltd.
Bontec Co., Ltd.
Donghee Auto Co., Ltd.
Beijing Hyundai Mobis
Automotive Parts Co., Ltd.
TRW Steering Co., Ltd.
Hyundai Card Co., Ltd.(*1)
Autoever Systems Co., Ltd.
AMCO Corp.(*1)
EUKOR Car Carriers, Inc.(*1)
EUKOR Car Carriers Singapore Pte.(*1)
China Millennium Corp.
Hyundai-Motor Group Ltd.
Partecs Company, Ltd.
Haevichi Leisure Co., Ltd.
Kia Motors Australia Pty Ltd.
Yanji Kia Motors A/s and Repair
NGVTEK.com
Won (millions)
(*1) The Company accounts for its investment in Hyundai Mobis Co., Ltd. and AMCO Corp. under the equity method of accounting due to its significant management control even though the Company’s ownership is
under 20%. In addition, the Company and its holding company, Hyundai Motor Company, together own more than 20% of EUKOR Car Carriers, Inc., Hyundai Card Co., Ltd and Hyundai Hysco Co., Ltd. which the
Company generally presumed that the investee is under significant influence, thus accounting for its investment under the equity method of accounting.