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Hyundai Motor Company Annual Report 2003 _8281_Hyundai Motor Company Annual Report 2003
HYUNDAI MOTOR COMPANY AND SUBSIDIARIES HYUNDAI MOTOR COMPANY AND SUBSIDIARIES
Companies Historical Book value Book value Ownership
cost percentage(*2)
Hyundai MOBIS 83,102 343,963 $287,162 18.51
Korea Industrial Development Co., Ltd. 5,091 2,614 2,182 10.54
INI Steel (*1) 137,175 136,584 114,029 20.03
Saehan Media 1,607 2,418 2,019 4.93
Jin Heung Mutual Savings & Finance Co., Ltd. 2,181 2,045 1,707 8.66
Korea Mutual Savings Bank 2,846 2,983 2,490 8.13
Hyundai Heavy Industries Co., Ltd. 56,924 41,720 34,831 2.88
Hyundai Corporation 13,626 2,079 1,736 2.99
Hyundai Information Technology Co., Ltd. 10,000 1,267 1,058 2.21
LG Telecom Co., Ltd. 19,851 16,198 13,523 1.28
Chohung Bank 73,545 28,003 23,379 1.10
Hyundai Merchant Marine Co., Ltd. 7,329 1,040 868 0.55
Kia Steel Co., Ltd. 96 169 141 0.52
Hyundai Engineering & Construction Co., Ltd. 13,332 4,280 3,573 0.55
Kanglim Specific Equipment Automotive Co., Ltd. 347 68 57 0.38
Prochips Technology Inc. 905 80 67 0.27
DongYang Investment Bank 283 22 18 0.02
Korea Information Service. Inc. 1,098 1,497 1,250 2.21
SK Telecom 837 5,716 4,772 0.03
Nonhyup Trust Cash Fund 199,839 315,625 263,504 -
Samho Company Ltd. 16 1 1 -
Samlip General Food 14 - - -
Treasury Stock Funds 20,737 4,489 3,748 -
Stock Market Stabilization Fund 14,754 23,247 19,408 -
665,535 936,108 $781,523
(*1) Excluded in applying the equity method since the increase in ownership was caused mainly by investee’s stock retirement
and the Company believes the increase of ownership is temporary.
(*2) Percentage ownership is calculated by combining the ownership of the Company and its subsidiaries.
(3) Marketable investments that are excluded from the consolidation and the application of the equity method as of December
31, 2002 consist of the following:
Korean won
(in millions)
U. S. dollars
(Note 2)
(in thousands)
Companies Acquisition Book value Book value Ownership
cost percentage(*2)
Yan Ji Kia Motors A/S (*1) 1,792 1,792 $1,496 100.00
Hyundai Capital Asset Management Co., Ltd. (*1) 2,000 2,000 1,670 100.00
Hyundai Jingxian Motor Safeguard Service
Co., Ltd. (*1) 2,019 2,019 1,686 84.88
NGVTEK.com (*1) 700 700 584 68.29
Kia Service Philippines Co. (*1) 185 185 154 20.00
Eukor Car Carriers, Inc. 48,912 48,912 40,835 19.99
Mco 950 950 793 19.99
Dongyong Industries Co., Ltd. 241 241 201 19.23
Hyundai RB Co. 550 550 459 18.64
Mobil.Com Co., Ltd. 1,800 1,800 1,503 17.61
Jinil MVC Co., Ltd. 180 180 150 18.00
Industri Otomotif Komersial 4,439 4,439 3,706 15.00
Hyundai Technology Investment Co., Ltd. 4,490 4,490 3,749 14.97
Hyundai Unicorns Co., Ltd. 5,795 5,795 4,838 14.90
Hyundai Research Institute 1,271 1,271 1,061 14.90
Gyeongnam Credit Guarantee Foundation 2,500 2,500 2,087 13.66
Kihyup Finance, Inc. 3,700 3,700 3,089 12.75
SoltechIM Co., Ltd. 157 157 131 10.47
Toba Telecom 405 405 338 10.02
3Gcore, Inc 225 225 188 10.90
Yonhap Capital Co., Ltd. 10,500 10,500 8,766 10.49
Hyundai Motor Deutschland GmbH 802 802 670 10.00
Hyundai Finance Corporation 9,888 9,888 8,255 9.29
Daejoo Heavy Industry Co. Ltd. 650 650 543 9.29
A.P. Co., Ltd. 550 - - 9.20
Namyang Industrial Co., Ltd. 200 200 167 8.00
KOENTECH
(formerly Ulsan Environmental Development) 1,550 1,550 1,294 7.75
Internet Hankyoreh Inc. 4,800 4,800 4,007 7.41
Hyundai Oil refinery Co., ltd. 88,857 88,857 74,184 6.33
Hyundai Asan Corporation 22,500 8,861 7,398 5.00
Yonhi Information & Communication Co., Ltd. 500 500 417 4.90
Dongwon Capital Co., Ltd. 3,000 3,000 2,505 4.62
U.S Electrical Inc. 2,204 2,204 1,840 3.80
ROTIS 1,000 1,000 835 3.76
Q&V Korea 400 400 334 3.70
Daishin Factoring Co., Ltd 2,000 - - 3.33
Korea Auto Industries Coop Association 16 16 13 2.06
ICOLS Inc. 160 160 134 2.50
(4) Non-listed investments that are excluded from the consolidation and the application of the equity method as of December
31, 2002 consist of the following:
Korean won
(in millions)
U. S. dollars
(Note 2)
(in thousands)