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Notes to Consolidated
Financial Statements
December 31, 2010 and 2009
In millions of won Balance at Accumulated other Other Balance at
January Additional Net income comprehensive increase December
Company 1, 2010 investment (loss) income (decrease)(*3) 31, 2010
HMC Investment Securities
Co., Ltd.(*4) ￦ 25,123 - (224) 345 - 25,244
The Korea Economic Daily Co., Ltd.(*4) 5,336 - 329 34 - 5,699
HMC Win-Win Cooperation Fund(*4) 6,202 - 153 - (312) 6,043
Kia Tigers Co., Ltd.(*1,*4) - - - - - -
Yanji Kia Motors A/S and Repair(*2,*4) 1,792 - - - - 1,792
NGVTEK.com Co., Ltd. (*2,*4) 250 - - - - 250
EUKOR Car Carriers Singapore
Pte. Ltd.(*2,*4) 5 - - - - 5
EUKOR Shipowning Singapore
Pte. Ltd.(*4) 442 - 853 (185) - 1,110
Hyundai Motor Manufacturing
Rus LLC(*4) - 129,229 (2,388) (814) - 126,027
Hyundai Powertech (Shangdong)
Co., Ltd.(*2,*4) - 8,926 - - - 8,926
Innocean World Americas, LLC 2,114 - 1,448 - - 3,562
Hyundai Information System
North America 2,082 - 157 - - 2,239
Hyundai Capital America (HCA)
(formely, HMFC) 66,703 - 3,975 (1,854) - 68,824
Hyundai Powertech Manufacturing
America, Inc. 8,173 - - (201) - 7,972
Sewon America, Inc. 11,894 - (797) - - 11,097
￦ 3,860,181 175,731 838,125 118,010 (69,334) 4,922,713
In millions of won Balance at Additional Accumulated other Other Balance at
January investment Net income comprehensive increase December
Company 1, 2009 (disposal) (loss) income (decrease)(*1) 31, 2009
Hyundai Mobis Co., Ltd.(*2) ￦ 931,279 96,019 328,265 (7,600) (15,558) 1,332,405
Hyundai Steel Company(*3) 791,420 - 239,377 109,757 (9,080) 1,131,474
Hyundai Powertech Co., Ltd.(*3) 156,991 - 15,926 1,144 - 174,061
Hyundai WIA Corporation(*3) 223,971 - 33,358 56,887 - 314,216
Hyundai Card Co., Ltd.(*3) 141,932 - 26,507 3,201 - 171,640
Hyundai Dymos Inc.(*3) 129,973 - 6,507 1,249 - 137,729
Hyundai Hysco Co., Ltd.(*3) 117,249 - 12,639 10,856 (1,114) 139,630
EUKOR Car Carriers, Inc.(*3) 40,235 - 3,803 (1,909) - 42,129
Hyundai Autonet Co., Ltd.(*2) 39,070 (36,328) (1,366) (1,376) - -
Hyundai AMCO Co., Ltd.(*3) 73,161 - 12,659 712 (4,996) 81,536
Beijing Hyundai Mobis(*3) 44,359 - 7,038 (3,748) - 47,649
China Millennium Corp.(*3) 15,920 - 1,577 (1,205) - 16,292
Partecs Company, Ltd.(*3) 12,638 - 1,670 - - 14,308
Autoever Systems Co., Ltd.(*3). 16,049 - 5,494 (126) - 21,417
Hyundai Motor Group (China) Ltd.(*3) 33,613 - 21,613 (3,688) (10,690) 40,848
Donghee Auto Co., Ltd.(*3) 9,607 - 1,196 - - 10,803
WIA Automotive Engine
(Shandong) Company(*3) 34,957 12,075 1,674 (4,171) - 44,535
TRW Steering Co., Ltd.(*3) 6,369 - 162 - - 6,531
Haevichi Country Club., Ltd. 3,603 - (741) - - 2,862
HMC Investment Securities Co., Ltd.(*3) 15,820 8,897 (180) 586 - 25,123
The Korea Economic Daily Co., Ltd.(*3) 4,988 - 407 (59) - 5,336
HMC Win-Win Cooperation Fund(*3) 6,000 - 202 - - 6,202
Kia Tigers Co., Ltd.(*3) 31 - (31) - - -
Yanji Kia Motors A/S and Repair 1,792 - - - - 1,792
NGVTEK.com Co., Ltd. 250 - - - - 250
EUKOR Car Carriers Singapore Pte. Ltd. 5 - - - - 5
EUKOR Shipowning
Singapore Pte. Ltd.(*3) - 3 3,326 (100) (2,787) 442
Hyundai Motor Manufacturing Rus LLC(*1) 46,364 - - - (46,364) -
Innocean World Americas, LLC 3,849 - 1,532 (138) (3,129) 2,114
Hyundai Information
System North America 5,121 (1,368) 361 (25) (2,007) 2,082
Hyundai Capital America (HCA)
(formely, HMFC) 72,009 - 2,706 (8,012) - 66,703
Hyundai Powertech
Manufacturing America, Inc. 4,401 4,401 - (629) - 8,173
Sewon America, Inc. 14,917 - (2,139) (884) - 11,894
￦ 2,997,943 83,699 723,542 150,722 (95,725) 3,860,181
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, capital adjustments-gain of equity method accounted investments has been
increased by ￦92,217 million for the year ended December 31, 2010.
(*1) The cumulative 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, 2010 consist of the following:
(*2) Investments in associates are recorded at cost, except where the effect of applying the equity method of accounting for investments
on the consolidated financial statements is material.
(*3) All decreases consist of dividends from associated companies.
(*4) The Company accounted for its investment by using the equity method of accounting based on the unaudited financial statements as it
was unable to obtain the audited financial statements and performed procedures to verify the unaudited financial statements.
In millions of won Cumulative Unrealized
Company losses gains Total
Kia Tigers Co., Ltd. ￦ (48) - (48)
(g) Changes in balance of investments in associated companies accounted for by using the equity method for the year ended December 31,
2009 are as follows:
78 COMPONENTS OF SUSTAINABLE GROWTH 79
KIA MOTORS ANNUAL REPORT 2010