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NOTES TO NONCONSOLIDATED
FINANCIAL STATEMENTS
December 31, 2009 and 2008
(*1) Hyundai Mobis Co., Ltd merged with Hyundai Autonet Co., Ltd on June 25, 2009.
(*2) The cumulative income (losses) and unrealized gains not recognized by the Company due to the suspension of the valuation of equity
securities using the equity method as of December 31, 2009 consist of the following.
(*3) Investments in associates are recorded at cost, except where the eect of applying the equity method of accounting for investments on the
non-consolidated nancial statements is material.
(*4) The Company made additional investment in Kia Motors America Inc., Kia Motors Europe GmbH and Kia Motors Australia Pty Ltd. during
the year. However, as noted above, the equity method was discontinued as the Company’s share of losses exceeded the carrying amount of
the investment. In accordance with the equity method of accounting, the Company’s additional investment is recognized as a decrease of
retained earnings, as the cumulative losses are greater than the Company’s additional investment.
(*5) Other decrease consists of dividends from associated companies except for Kia Motors America Inc, Kia Motors Europe GmbH and Kia Motors
Australia Pty Ltd. (as noted in *4 above).
(*6) The Company accounted for its investment by using equity method of accounting based on the unaudited nancial statements as it was
unable to obtain the audited nancial statements and performed procedures to verify the unaudited nancial statements.
(*7) The Company made an adjustment to conform the associates’ accounting policies to those of the Company for like transactions and events
in similar circumstances. Relating to this adjustment, equity in income of associates has been increased by ￦ 2,916 million and unrealized
holding gain on equity method accounted investments has been reduced by ￦ 16,494 million for the year ended December 31, 2009,
respectively.
In millions of Won
Cumulative Unrealized
Company income(losses) gains Total
Kia Motors America, Inc. ￦ 148,066 (168,984) (20,918)
Kia Canada Inc. (69,139) (9,600) (78,739)
Kia Motors Europe GmbH (423,578) (69,364) (492,942)
Kia Motors Australia Pty Ltd. (37,425) (11,556) (48,981)
￦ (382,076) (259,504) (641,580)
(g) Changes in balance of investments in associated companies accounted for by using the equity method as of December 31,
2008 are as follows:
In millions of Won Balance at Additional Accumulated other Other Balance at
January investment Net income comprehensive increase December
Company 1, 2008 (disposal) (loss) income (decrease)(*5) 31, 2008
Kia Motors America Inc.(*1,*3) ￦ - 103,364 - - (103,364) -
Kia Canada Inc.(*1) - - - - - -
Kia Motors Deutschland GmbH (*3) - 109,702 7,202 (6,273) (109,702) 929
Kia Motors Europe GmbH(*1, *3) - 460,171 40,789 (40,789) (460,171) -
Kia Motors Australia Pty Ltd.(*1) - - - - - -
Kia Tigers Co., Ltd. - - - 31 - 31
Kia Motors Slovakia s.r.o. 558,191 - 30,544 163,191 - 751,926
Kia Japan Co., Ltd. 19,198 - 28 12,922 - 32,148
Dongfeng Yueda Kia Motors Co., Ltd. 166,801 - 15,639 76,263 - 258,703
Haevichi Resort Co., Ltd. - - - 11,665 - 11,665
Hyundai Mobis Co., Ltd. 742,107 - 175,845 38,632 (19,448) 937,136
Hyundai Steel Company 577,540 - 189,754 33,206 (9,080) 791,420
Hyundai Powertech Co., Ltd. 157,958 - 569 (1,536) - 156,991
Hyundai WIA Corp.(*6) 179,462 - 13,421 31,088 - 223,971
Hyundai Card Co., Ltd. 128,290 - 25,514 (4,319) (7,553) 141,932
Dymos Inc. 122,123 - 5,327 2,523 - 129,973
Hyundai Hysco Co., Ltd. (*6) 111,450 - 4,736 2,178 (1,115) 117,249
EUKOR Car Carriers, Inc. 41,646 - 2,903 (2,740) (1,574) 40,235
Hyundai Autonet Co., Ltd. (*6) 42,711 - (2,962) 147 (826) 39,070
Hyundai AMCO Co.,Ltd. 57,111 - 14,061 1,989 - 73,161
Beijing Hyundai Mobis Automotive Parts Co., Ltd. 28,630 - 2,767 12,962 - 44,359
China Millennium Corp. 9,227 - 2,323 4,370 - 15,920
Partecs Company, Ltd. 12,056 - 582 - - 12,638
Autoever Systems Co., Ltd. 11,529 - 4,318 202 - 16,049
Hyundai-Motor Group Ltd. 12,517 - 12,974 8,122 - 33,613
Donghee Auto Co., Ltd. 9,303 - 304 - - 9,607
WIA Automotive Engine (Shandong) Company 8,877 14,881 3,479 7,720 - 34,957
TRW Steering Co., Ltd. 4,797 - (200) 2,536 (764) 6,369
Haevichi Country Club., Ltd. - - - 3,603 - 3,603
HMC Investment Securities Co., Ltd. (*4) - 9,414 (2,172) 345 8,233 15,820
Hyundai Commercial Co., Ltd. 10,533 (10,381) - (152) - -
The Korea Economic Daily Co., Ltd. 5,043 - (55) - - 4,988
HMC Win-Win Cooperation Fund(*2) - 6,000 - - - 6,000
Yanji Kia Motors A/S and Repair(*2) 1,792 - - - - 1,792
NGVTEK.com(*2) 250 - - - - 250
EUKOR Car Carriers Singapore Pte.(*2) 5 - - - - 5
￦ 3,019,147 693,151 547,690 357,886 (705,364) 3,912,510
REDEFINING
MOBILITY
KIA MOTORS
ANNUAL REPORT
2009

REDEFINING
MOBILITY
KIA MOTORS
ANNUAL REPORT
2009
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