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Chairman's Letter
7
Our goal is to join the top five carmakers in the world by the year 2010. The past year was a step in the
right direction, but it was only the beginning. We continue to work towards our goal, with a commitment
to sustainable growth and a plan that will keep us on track in the years to come. Our plan focuses on
four main areas of concentration: global reach, profit management, resource management and
corporate citizenship. In global reach, we will continue to implement region-specific development and
marketing, by expanding our investments in countries of high or growing demand. This expansion will be
bolstered by a worldwide focus on brand power and further strengthened by the growing number of
independent awards and critical acclaim for our products and industry firsts. In profit management, we
will concentrate our efforts on increasing profitability through a steady growth in sales and a systematic
reduction in costs. Our attention must also turn to the continuing reforms that are enhancing our
transparency at all levels of governance and standardizing accounting practices not only in our
company, but also in this country. In resource management, we must nurture those who make Hyundai
Motor successful and its future possible, from the people who build the cars to the people who buy
them. This must be a relationship that nurtures understanding and mutual growth. In corporate
citizenship, we must set a strong example by adhering to high standards in recycling, emission controls,
environmental production and the development of alternative energies. We will strengthen the bonds
that join us to the global community by supporting the works of groups and individuals that promote
positive change in the world. And the world is in difficult times: war is at the doorstep of many regions
and once thriving business markets are growing at a sluggish pace or faltering altogether. And though
this weighs heavily on our minds, we stay committed to the steps, large and small, that will take us to our
goal in 2010.
Chung Mong-Koo
Chairman and CEO, Hyundai Motor Company