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History of Hyundai

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Abstract Taking pride in your car by driving it and admiring it is one thing, actually knowing its history is quite another.

The Hyundai Motor Company is one if not the most dynamic automobile producer in any developing country. This is remarkable considering that the company is closing in on 40 years of existence. To outline its history one must also look into the life and times of its founder Chung Ju-Yung. It cannot be told without the outlining the founders rise from the rice fields of Korea to the circumstances that let him to acquire the knowledge and determination that led to the creation of one of the fastest growing family owned businesses into a global competitor. His creation of numerous companies eventually let to the establishment of the Hyundai Group. The Hyundai Motor Company was one of these. He created it and transformed it from a mere assembler of Ford models to a designer and exporter of its own cars and engines in less than four decades. It has already become a major global player with plants and dealerships that span six continents. The company is one of the largest and most diversified business organizations with 45 affiliated domestic companies and 254 overseas companies in nearly 200 countries. The Hyundai Motor Company is but one which the Group is active in such as shipbuilding, steel, petrochemicals, heavy machinery, aerospace, electronics and financial services. These pages therefore outlines not only the rich and unique History of the Hyundai Motor Company but also the remarkable years beforehand that led to its creation, the eventual breakup of the Group and its continuous development into a top ten global automaker.
Reason for this page

While I am a fanatic of the Hyundai brand, I failed to see a one page source of the company's complete history. The following write up is compilation from numerous sources acquired throughout the internet, books and company sources that are available to the public. I just grouped them in one place for easier access. The resources for this write up are acknowledged in footnotes and at the end of this page, Including if any original write ups.

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Pre-Hyundai History 1900-1946
1915 1940 1950 1960 1970 1980 1990 2000 2010 1930 1941 1951 1961 1971 1981 1991 2001 1932 1942 1952 1962 1972 1982 1992 2002 1934 1943 1953 1963 1973 1983 1993 2003 1937 1944 1954 1964 1974 1984 1994 2004 1939 1945 1955 1965 1975 1985 1995 2005 1940 1946 1956 1966 1976 1986 1996 2006 1945 1947 1957 1967 1977 1987 1997 2007 1946 1948 1958 1968 1978 1988 1998 2008 1947 1949 1959 1969 1979 1989 1999 2009

History Part 1. Before the Hyundai Motor Company. 1915-1939 The story of Hyundai Motor Company starts off first and foremost with its founder, Chung Ju-Yung. He alone created an industrial empire, pulled post-war Korea out of poverty and

retailing. They have the vision. Learning that the first and foremost fact in establishing a business is trust. 1932 Chung third and final attempt to run away was successful and he financed his 120 mile trek to Seoul by selling one of his father¶s cows. All this by the age when most modern youths would be entering junior high school. The following outlines the years leading to the creation of the Hyundai Motor Company. As mentioned in the abstract. the eight largest trading partner of the U. 1915 Chung Ju-Yung the eldest son of two girls and six boys is born on November 25th. Phil Knight of Nike. These numerous job assignments and stressful situations to provide for the family led young Chung to attempt to run away from his Tongchun home numerous times. Kangwon-do in what was later known as North Korea to a poor peasant farming family. to outline the History of Hyundai one must start with its founder and the years leading up to the creation of the Hyundai Motor Company. shipbuilding and steel production. Chung Ju-yung opens his own rice shop ³Gyungilsanghwoe´ after the acquisition of the former shop. its best personified by Chung Ju-Yung who with his vision created a group of companies that by the time he retired in 1991.ruin while building his own fortune. 1937 At the age of 22. 1930 Chung graduates from Sonjon Primary School. arriving in the city around the age of 16. A group of companies that become the biggest conglomerate (chaebol). and a global leader in construction. The Group comprised many areas of activity including shipbuilding. History Part 2. and turn a company into a global player. Chung Ju-yung starts planting the seeds which eventually form into the Hyundai Group. [1] Chung¶s formal education ends when at the age of 14. a rice shop in Seoul. car manufacturing. and Larry Page of Google all have in common. the tenacity and the refusal to back down.. 1939 Chung Ju-yung Marries 16-year old Byeon Jung-seok.S. In Korea. bookkeeping and then as a dock hand for a barge owner. All the wages he obtained from these jobs were taken by his parents to feed the family. due to the Japanese occupation. 1940-1950 In the following decade. Pierre Omidyar of ebay. Planting the seeds and The Group is formed. finance and electronics in the years to come.[2] 1934 Chung Ju-yung (then 18 years old) enters the business world by being employed at ³Bokheungsanghwoe´. He was later sent to work as a railway construction laborer. his father withdraws him and set him to task of helping to provide for his younger siblings by working as a laborer on the family farm. accounted for 16 percent of Korea¶s gross domestic product and 12 percent of its total exports. The Hyundai Group is one that helped Korea rise to become the world¶s 11th largest economy. 1915 in the northern mountainous region of Tongchon. 1940 . What does Bill Gates of Microsoft. Twice he was caught and brought back and discipline. Occupation. in the country of Korea. semiconductors.

History Part 4. the nation¶s first order from abroad in September. Chung Ju-yung officially opens and establishes a garage and repair firm. 1947 The Hyundai Group is founded by Chung Ju-yung as a construction company. 1965 Receives order to build Thailand¶s expressway. South Korea on April. in January. Hyundai becomes the U. History Part 3. (known as Hyundai Togun). The business helped create and financed The Hyundai Civil Works Co. 1947. Finishes the project in Dec. 1950-1966 1950 Hyundai Togun renamed into Hyundai Construction and Engineering Co. This led him to be a truck driver and then owner of his own delivery service. 1968 . together. Hyundai Commercial Transportation Co. made it illegal for Koreans to own such critical food trades as rice shops and forced Chung Ju-yung to shutdown. 1960 Hyundai Construction ranks first in the construction industry in terms of orders received. 1964 Completion of Hyundai Construction¶s cement factory in Tanyang. Hyundai Motor Company established by Chung Ju-yung and his brother Se-yung Chung on December. The company. With the delivery service he gained the knowledge of repairing the trucks and this led to operate an automobile repair shop. 1946 and repaired trucks for the US Armed forces in South Korea. 1946 Chung Ju-yung (then 31 years old) establishes Hyundai Auto Service in Seoul. Expansions and Contracts. Seoul in January. after merging the Hyundai Auto Service and the Hyundai Civil Works Co. Army¶s favorite contractor during the Korean War.The Japanese. is formally establishment on May 25. The creation of the Hyundai Motor Company 1967-1970 1967 Hyundai starts building the multipurpose dam on the Soyang River in April. known as the ³Ah-do Service´ auto repair shop in Seoul in March 1940. established in July. which had occupied Korea at the time. 1961 Hyundai Construction¶s headquarters is built in Mukyo-dong. which was later merged into the Hyundai Engineering and Construction. Mergers.S. 1973. Hyundai Civil Works Co. Chungchongpukto in June.

and U. CT Tung received their tanker on time. Construction begins on the Kyungbu Expressway connecting Pusan and Seoul. 1972 On March 23. Ford transferred ³packaged´ technology to Hyundai with a set of explicit knowledge. Specializing in Shipbuilding. such as blueprints.426 cars. The others were Daewoo. Hyundai Heavy Industries established. Established in April. 1972 On March 23. Founder Chung JuYung takes his first shipbuilding order for Hong Kong trade giant CT Tung. This agreement with Ford gave Hyundai valuable migratory knowledge with which to upgrade its tacit and explicit knowledge to auto assembly.K firms for an integrated parts/components plant. 2 Firms in Japan and U. Hyundai Heavy Industries established. Founder Chung JuYung takes his first shipbuilding order for Hong Kong trade giant CT Tung. CT Tung received their tanker on time. technical specifications. 1973 Hyundai Heavy Industries Ltd. (10 firms in Japan and Italy for car design. Entered into an Overseas Assembler Agreement (Licensing Agreement) with Ford. established. Hyundai achieves the shortest time (six months) between groundbreaking and first commercial production among the 118 Ford assembly plants around the world. (Whereby Hyundai was to assemble Ford compact cars on a semi-knockdown (SKD) basis. . production manuals and training of Hyundai engineers.S. The Korean government formulated The Long-Term Plan for Promotion of the Automobile Industry and ordered four automobile companies to submit detailed plans to develop Korean cars by 1975. Finishes in June 1970. 4 firms in Japan and the United States for stamping shop equipment.K. Hyundai being one of these companies.Hyundai starts on an eight year experience process of assembling vehicles (19681976). Collaborating and Learning 1970-1980 1971 Chung Ju-yung becomes the Hyundai Group chairman in February.000 ³Korean´ cars. Kia and Ssangyong. before even building his ship yard. before even building his ship yard. Hyundai approaches 26 firms in five countries to acquire different technologies. History Part 5. Specializing in Shipbuilding. Hyundai submits its master plan for a new plant with a capacity of 80. 1969 Chung Ju-yung inaugurated as Hyundai Construction Chairman in January. 5 firms in the United Kingdom and Germany for casting and forging plants. Hyundai starts producing the Ford Cortinas and Ford Granadas for the South Korean domestic market from 1968 through 1976. for engines and 5 U. (Note: Actual production for the year was 5. Hyundai Cement Co. offshore & Engineering and Industrial Plant & Engineering. offshore & Engineering and Industrial Plant & Engineering.

Ltd president George Turnbull as its vice president and six other British technical experts for a three year period (1974-1977) for the successful development of its first indigenous model. Chung saved money by using Korean parts and not insuring the shipments. founded in April. the nation¶s first vehicle model. in March. Acquisition of Gukil Securities and the foundation of Hyundai Securities in November. Subcompact car Pony. Hyundai enters into licensing agreement with Mitsubishi for gasoline engine. 1978 Hyundai starts working on the Sosan reclamation project. Started sales of 11-ton cargo and dump trucks. Hyundai hires former British Leyland Motor Corp. unveiled at the 55th Turin International Motor Fair. Establishment of Korea Industrial Development Co. . and Hyundai Motor Services Co. are set up in February.) 1975 Hyundai Mipo Dockyard Co. rear axle designs and casting technology. 1977 The British engineers that help Hyundai develop the Pony left the company and Hyundai uses moonlighting Japanese engineers to troubleshoot problems. The Pony (with 90% domestic content) makes Korea the second nation in Asia to have its own domestic automobile. Finishes in August 1995. Hyundai Machine Tools (a branch of the Hyundai Motor Group) established. the Pony. Chungchong-namdo. transmission. Chung Ju-yung is appointed chairman of the Federation of Korean Industries and leads the organization until 1987. are officially released in January.Hyundai enters into a licensing agreement with Giorgio Giugiaro¶s ItalDesign for body styling and design.. in August. starts production. making Hyundai a major player in Middle East construction. but the gamble paid off. Chung Ju-yung establishes Asan Foundation as well as the Hyundai Oil Refinery in July. 1974 Hyundai Engineering Co. Hyundai Heavy Industries wins over 900 million in construction contracts with Saudi Arabia to build a port at Jubail. Saudi Arabia port worth $930 million. Granada (6-cylinder) debut. 1976 The Pony model cars. risking ruin. Hyundai Corp established in December. Hyundai Merchant Marine. (The engine. First Pony exported. and Asia Merchant Marine Co. Asia Merchant Marine is later renamed. Hyundai completes the construction of the Jubail. transmission and suspension were all from a previous model of the Mitsubishi Lancer and the exterior design by Giugiaro¶s ItalDesign studios. Korea's first independently designed and manufactured model.

retail. It remains today controlled by the Chung family.ehow.html#ixzz1kdbofiPX y Founding Hyundai Group was founded as a construction company that eventually acquired department stores and shipbuilding companies to become the largest conglomerate in South Korea.ehow. Best known today as the Hyundai Motor Company producing a line of cars.com/facts_5003169_what-originhyundai.com/facts_5003169_what-originhyundai. the company is actually a conglomerate also involved in development. Read more: What Is the Origin of Hyundai? | eHow.1980 Assembly Plant in Canada established.html#ixzz1kdbuseNT . x What Is the Origin of Hyundai? The South Korea-based Hyundai was founded by Chung Ju Yung as a construction company in 1947.com http://www.com http://www. Read more: What Is the Origin of Hyundai? | eHow. civil and architectural engineering and shipbuilding.

com http://www.com/facts_5003169_what-originhyundai.ehow.com http://www.com/facts_5003169_what-originhyundai.html#ixzz1kdcoAILR . Read more: What Is the Origin of Hyundai? | eHow. ranking fifth in car sales worldwide.html#ixzz1kdcQ4ZKf y Automotive Growth Hyundai Motors acquired Kia Motors in 1998 and the auto division became an arm of the Hyundai Kia Automotive Group.y Automaking The Hyundai Motor Company was established in 1967 when it partnered with the Ford Motor Company to build the Cortina. Read more: What Is the Origin of Hyundai? | eHow.ehow.

Read more: What Is the Origin of Hyundai? | eHow.y Other Entities The conglomerate by the end of the 1990s included the department store chain Hyundai Department Store Group.com http://www.html#ixzz1kdd8YIEU y Reorganization The Asian financial collapse of 1997 and Chung Ju Yung's death in 2001 forced the company to pull back on expansion and reorganize to make its various business components independent of each other.com http://www.com/facts_5003169_what-originhyundai.ehow.html#ixzz1kddUctlP . shipbuilders Hyundai Heavy Industries Group and the civil engineering arm of Hyundai Development.ehow.com/facts_5003169_what-originhyundai. Read more: What Is the Origin of Hyundai? | eHow.

com http://www. Read more: History of the Hyundai Company | eHow. Honda is Japanese. Kia is South Korean. Read more: What Is the Origin of Hyundai? | eHow. . The 1960s y Hyundai expanded internationally by bringing its construction business to the Middle East in 1965. Lexus is Japanese. Suzuki is Japanese. In 1958 the Keumkang brand was created to produce construction materials. container services and the tourism industry while the other entities operate independently. The 1950s y Hyundai helped rebuild its home nation after the Korean War.html#ixzz1kdeEDrh8 Company Origins y Hyundai was formed in 1947 as a construction company by Chung Ju-yung.ehow. Hyundai has grown to massive size by recognizing opportunities as they arrived and being in a position to use those opportunities effectively.com http://www.com/facts_5003169_what-originhyundai.ehow. Mazda is Japanese(owned 75% by Ford).html#ixzz1kddiLdEg The history of the Hyundai Corporation and South Korea are almost intertwined from its beginning.com/facts_4965547_historyhyundai-company.y Compartmentalized Goals The Hyundai Group limited its focus after 2001 to elevator construction. Daewoo was South Korean before they went broke. Hyundai is South Korean(owned 60% by Mazda). Toyota is Japanese. The first Hyundai cars were built in 1967 in Korea. This company prospered while rebuilding South Korea after World War II with infrastructure projects. Nissan is Japanese.

Hyundai has. Hyundai¶s nascent image was tarnished due to the vehicles¶ poor durability and reliability. Hyundai entered the United States in 1986. as it started producing cars with its own technology. South Korea. Read on further to know some interesting and amazing information on the history. By the 1980s. Though there had been numerous obstacles. The 1980s y Hyundai expanded into electronics in 1983. while the logo is a slanted.com http://www. Hyundai opened Canadian offices in 1985. Pony.000 Excels being sold in just seven months. construction. Hyundai has created Korea's largest automobile company. the company overcame all the odds and earned global recognition for the advanced technology and excellent quality. The company¶s slogan reads as ³Drive your way´. stylized ³H´. Hyundai expanded to the United States and set up an American subsidiary. The model was adjudged as the ³Best Product #10´ by Fortune magazine. in 1968. behind Japan. A relative newcomer to the automobile industry. Hyundai's income was 20 percent of South Korea's gross national product (GNP). electronics and financial markets. symbolizing the company shaking hands with its customer. Hyundai Motor is a division of the Hyundai Kia Automotive Group that manages Kia Motors as well. Hyundai launched its first domestic car. with its subcompact Excel. grown to become one of the world¶s largest car makers in just over three decades. and was the second largest-conglomerate after Daewoo. A Korean word which stands for ³modernity´. Cortina was the first model released by Hyundai. Pony was exported to Canada also where it surpassed expectations and became the top-selling car in the Canadian market. The company was later established as Hyundai Motor Company in 1967.html#ixzz1kde9yf8T ----Hyundai Motor Company is a Korean automaker. Interesting & Amazing Information On Origin & Background Of Hyundai Hyundai Motor Company was founded by Chung Ju-Yung in 1947.com/facts_4965547_history-hyundaicompany.ehow. headquartered in Seoul. The company started exporting cars to Ecuador. The car was an immediate hit with more than 100. shipbuilding. as Hyundai Engineering and Constructions Company. In 1975. nonetheless. which was powered by Japan¶s Mitsubishi engines. eventually making Korea the second-largest shipbuilder in the world. However. due to its supreme affordability. origin and background of Hyundai. Sales dropped drastically resulting in its disappearance from the American . Read more: History of the Hyundai Company | eHow. the first being midsize Sonata.The 1970s y Hyundai began shipbuilding in 1973. Netherlands and Luxemburg). The year 1988 was a big turnover for Hyundai. the company had interests in manufacturing. in the following year and then followed with exports to the Benelux countries (Belgium. in collaboration with Ford Motor Company. The 1990s y By the 1990s. The company has been continuously pressing ahead to achieve its goals of ranking amongst the world¶s elite automakers.

Hyundai vehicles are sold in 193 countries with as many as 6.000 dealerships and showrooms worldwide. Tucson SUV (2004-present) and Entourage minivan (2007present). All the three companies have been competing successfully in the global marketplace till date. Hyundai Motor Group and Hyundai Engineering and Construction. providing customers a high level of content and performance. after Porsche and Lexus and ahead of arch-rival Toyota. capable of producing approximately 1. The Genesis Coupe sports car debuted in 2009. has resulted in a giant sized automobile company. What started off as a humble beginning. then. The company. Pakistan. Hyundai is the largest automaker in the world in terms of profit. while Santa Fe Crossover was released in 2001. . Hyundai has made records with successful sales of sporty Tiburon Coupe (1996 through 2008). China. in the 1990s. North America and the Pacific Rim. Asia. which was lengthened to mid-size range in 2007. world¶s fourth largest automaker by the number of units sold and the fastest growing automaker in the world. Currently. Chrysler bowed out in 2004 due to financial difficulties. Since then.D. Chung Mong Koo. The company is soon going to launch the Sonata hybrid in 2010. with its manufacturing units in North America. Hyundai bought Kia Motors in 1998 and two years later partnered with Daimler Chrysler to create the Daimler-Hyundai Truck Corporation. The company also operates the world¶s largest integrated automobile manufacturing facility in Ulsan.6 million units annually. Hyundai was divided into three separate companies: Hyundai Heavy Industries. invested heavily in new product designs and improved the overall quality and reliability of the cars. the ownership was transferred to Chung Ju-Yung¶s son. Hyundai Motors India Limited was established in 1996 in Irrungattukotai near Chennai with an assembly plant as well. However. Hyundai was placed third. today. Czech Republic. Power and Associates in 2006. In a survey by J. in terms of overall quality. In 1999.market. at an affordable price. Today. After Chung Ju-Yung¶s death in 2001. this motor company has been producing cars and sports utility vehicles. India and Turkey and research and development centers in Europe.

Hyundai Symbol and Slogan Befitting our position as a global enterprise. Meaning of Slogan . 'Moving the World Together' ± means going forward together with our neighbors to a better society and better life. Hyundai Motor also carries put a broad range of social contribution programs around the world with the goal of promoting happiness for all people.

S. and top in U. RWD eight-speed automatic transmission.000 units for first time . the first of its kind in Korea Tau engine selected as top 10 engines in U.S. customer satisfaction Sonata exceeds five million total sales 2010 Official sponsor of South African World Cup President Chung Mong Koo selected as top CEO in Asian automotive business First public release of the BlueOn eco-friendly electric car Completion of Russian factory First public release of ix20 small minivan at Paris Motor Show Debut of Nu-Tau GDI engines. developed solely by Hyundai Official automotive sponsor of the G20 summit Development of ³Blue City´ CNG hybrid bus. annual sales exceed 500. for third straight year U. top in durability for third straight year World premiere of Sonata hybrid at New York Motor Show Genesis and Tucson selected as ³safest car´ by U.S.Meaning of Symbol History 2010 y y y y y y y y y y y y y y y Public release of i-flow hybrid concept car at Geneva Motor Show JD Power selects Hyundai as first among Asian brands in customer service satisfaction. IIHS.S.

Genesis Coupe. Genesis first in new models ³ix-Metro´ and ³ix35´ publicly released at Frankfurt Motor Show Reached 69th in global brand value as published by Business Week Czech factory completed. Talus released to public Selected for 100 Best Brands for second straight year Verna awarded ³Best Car of the Year´ by the Indian car magazine Overdrive Concept cars HED-4 (QarmaQ). receives president¶s award for ³200 Korean Technology Awards´ o o o o y o o o o o o o o o o o y o o o o o o o o o y o o Hyundai Motor Group in 2006 marked 100 trillion won in sales Hyundai Motor Group selected as the top Chinese automotive brand Construction started on second Beijing Hyundai plant First in general brand category of JD Power¶s IQS index Hyundai Motor Group reaches sixth worldwide in total production Exceeded one million units in total exports to Latin America Independent development of S-Engine. Genus. i30cw Hyundai Beijing breaks one million total sales in record short time First public release of the environmentally-friendly concept car i-mode at the Geneva Motor Show Completion of second Beijing plant.S. able to produce 300. a world-class V6 diesel Concept cars Helion.000 units annually Achieved top place for eighth consecutive year in national customer satisfaction survey (NCSI) Development of next-generation environmentally-friendly diesel ³R-Engine´ Tau engine selected as top 10 engines in U. Avante first in mid-sized. Arnejs. Super Bowl Public release of ³i20 3-door´ and ix-onic concept car at Geneva Motor Show Genesis wins North American Car of the Year Chinese warranty service satisfaction survey selects Hyundai as best automotive company Exceeded one million units exported to Africa Selected by JD Power in 2009 new-car quality survey as first in general brand category.S. able to produce 300.000 units per year First public release of next-generation high-performance Zeta GDi engine using solely Hyundai technology Tau engine selected by Ward¶s Auto among ³10 best engines´ for second straight year. Main sponsor of U. HND-3 (Veloster) released .y Development of hydrogen-fuel-cell Tucson vehicle y o o o Begin sales of Genesis.

ground broken on drive-testing center Developed world¶s first ultra-high-pressure hydrogen storage system for fuel-cell vehicles New record for Korean exports of 10 million units exported Joint venture factory established in China for commercial vehicles Second-generation Tucson fuel-cell vehicle developed President Chung Mong Koo selected as Best CEO of 2004 by Business Week Click selected as ³India¶s Best Car´ for 2005 U. 10 billion dollars Completion of European research center First in Korean Industry Customer Satisfaction for 10 years running.5 million North American design center completed. U.S. Brazil CKD factory completed Third-generation fuel-cell concept car i-Blue released at Frankfurt Motor Show Indian subsidiary begins sales of i10. completion of India factory Grandeur XG and EF Sonata enter the market.S. Alabama factory completed New Grandeur. for first time First official proclamation of ³global environmental management´ in automotive sector Avante exceeds two million produced. Sonata exceeds 2. drive-testing facility.o Grandeur achieves first place for second straight year in JD Power¶s customer satisfaction survey Exceeded 5 million units in total U.S. next-generation compact i30 Selected as Australia¶s ³Best Car of the Year´ First Korean ³Global CSR website´ opened Awarded president¶s medal by Korean government for environmental management o o o o o o y o o o o o o o y o o o o y o o o o o o o o y Exports exceed 1 million units.2014 Exceeded 1 million units exported to Africa and the Middle East President Chung Mong Koo selected as Best CEO in the automotive sector by Automotive Enter 100 Best Global Brands Completion of environmentally-friendly Vehicle Recycling Cente o o o y o Acquisition of Kia Motors. solar-powered automobile #2 developed Independent development of world-class high-performance lightweight V6 Delta engine First Korean development of automotive fuel cell batteries . technology research center. HED-1 public release at Geneva motor show Selected as official FIFA partner for 2007 . sales.

1 in U. subsidiary (HMA) is incorporated The large luxury car Grandeur enters the market. driving and design research Completion of California design & technical center Hyundai Motor Company is incorporated Cortina begins mass production The Hyundai Pony.S. the first Korean-style car. Terracan. first export of Excel to America Excel has best U. customer satisfaction survey HMA receives JD Power¶s presidential award Public release of fuel-cell-powered Santa Fe Public release of HCD-VI concept car Chinese-produced version of Elantra released Sonata selected by J. first Korean concept car. large commercial engine First Korean development of fuel cell vehicle Santa Fe and Avante XD enter the market Incorporated first Korean automotive group Official sponsor of Euro 2000 soccer tournament Sports coupe Tuscani.o y o o o o o y o o o o o y o o o y o y o y o y o y o y o y o y o y o y o y o y o o y y o y o The ultra-large sedan Equus.S. Verna. enters the market Canadian subsidiary (HMC) is incorporated Excel enters the market U. and Trajet XG enter the market First Korean development of passenger diesel engine. is developed Sonata II enters the market. Lavita enter the market Santa Fe selected as No. Power as first in performance. sales among small imports for three years running Mid-sized luxury sedan Sonata enters the market Excel breaks one million vehicles exported Elantra and Scoop enter the market Electric car developed.S. Galloper enters the market First all-Korean-developed Alpha engine released HCD-I. concept car HCD-II developed .D.

Accent enters the market Development of solar-powered / hydrogen-fuel-cell vehicles Avante enters the market.o o y o y o o o y o Exceed one million units sold per year. concept car HCD-III developed Total 10 million sales exceeded across all models Constructions completed on Namyang integrated technology research center Dynasty and Tiburon enter the market Turkey factory completed. independent development of Epsilon engine Hyundai Corporate Philosophy .

y People We believe in the future of our group organization lies in the hearts & capabilities of individual mebers. aspire to be the world s best at what we do. & strive to become a respected global corporate citizen. y Challenge We refuse to be complacent. y Collaboration We create synergy through a sense of togetherness that is fostered by mutual communication & cooperation within the company & with our business partners.The 5 core values we have defined as part of our new corporate philosophy are tents that have existed in us throughout our history. & are confident in achieving our goals with unwavering passion & ingenious thinking. y Customer We promote a customer driven corporate culture by providing the best quality & impeccable service with all values centered on our customers. embrace every opportunity for greater challenge. y Globality We respect the diversity of cultures & customs. and are principles that all employees promise to further foster in our organization. & will help them develop their potential by creating a corporate culture that respects talent. .

y Management performance .