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59
HYUNDAI MOTOR COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2007 AND 2006
1. GENERAL INFORMATION
The Company
Hyundai Motor Company (the “Company”) was incorporated in 1967, under the laws of the Republic of Korea, to manufacture and distribute
motor vehicles and parts.
The Company owns and operates three principal automobile production bases in Korea: the Ulsan factory, the Asan factory and the Jeonju
factory. In addition, the Company has invested in five overseas manufacturing plants including Hyundai Motor Manufacturing Alabama, LLC
(HMMA) as well as fourteen overseas sales and R&D subsidiaries including Hyundai Motor America (HMA).
The shares of the Company have been listed on the Korea Stock Exchange since 1974 and the Global Depositary Receipts issued by the
Company have been listed on the London Stock Exchange and Luxemburg Stock Exchange.
As of December 31, 2007, the major shareholders of the Company are Hyundai MOBIS (14.98%), Hyundai Steel (5.85%) and Chung, Mong
Koo (5.18%).
Consolidated Subsidiaries
The consolidated financial statements include the accounts of the Company and its consolidated domestic and foreign subsidiaries over
which the Company has substantial control and whose individual beginning balance of total assets or paid-in capital at the date of its
establishment is more than 7,000 million (US$7,461 thousand). The consolidated subsidiaries as of December 31, 2007 are as follows:
Subsidiaries Nature of Korean Won(*1) Translation into Shares (*2) Percentage Indirect
Business (In millions) U.S. Dollars ownership (*2) ownership (*2)
(Note 2)
(In thousands)
DOMESTIC SUBSIDIARIES:
Kia Motors Corporation (KIA) Manufacturing 5,075,342 5,409,659 134,285,491 38.67%
Hyundai Capital Service Inc. Financing 1,413,929 1,507,066 56,083,743 56.48%
Hyundai Card Co., Ltd. Credit card 1,122,975 1,196,946 68,994,329 43.50% KIA - 11.61%
Hyundai HYSCO Manufacturing 1,000,762 1,066,683 32,108,868 40.04% KIA - 13.91%
Hyundai Rotem (Formerly, ROTEM) ˝ 502,529 535,631 36,852,432 57.64%
WIA Corporation (WIA) ˝ 485,414 517,389 17,120,611 78.79% KIA - 39.33%
Hyundai Autonet Co., Ltd. (Autonet) ˝ 477,320 508,761 59,522,178 25.68% KIA - 8.91%
Hyundai Powertech ˝ 421,697 449,475 53,945,300 75.15% KIA - 37.58%
Dymos Inc. (DYMOS) ˝ 264,415 281,832 29,335,805 97.76% KIA - 45.37% &
WIA - 5.12%
KEFICO Corporation ˝ 243,738 259,793 1,670,000 50.00%
Seoul Metro 9th line ˝ 73,591 78,438 8,355,767 49.02% Rotem - 49.02%
Hyundai Commercial Co., Ltd. Financing 70,218 74,843 16,000,000 80.00% KIA - 15.00% &
WIA - 15.00%
Autoever Systems Corp. Information
technology 58,093 61,920 499,000 49.90% KIA - 20.00%
Partecs Co. Manufacturing 39,010 41,580 6,960,000 87.00% KIA - 31.00%
Mseat Co., Ltd. ˝ 33,408 35,609 998,140 99.81% DYMOS - 99.81%
M & Soft Co., Ltd (Formerly, Mando
Map & Soft Co., Ltd.) Software
consultancy
and supply 22,845 24,350 2,383,529 57.50% Autonet- 25.67%
Shareholders’ equity as of December 31, 2007