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Inverstors News

Notification and Details of the Convocation of General Meeting of Shareholders

2005.02.16 No. 303
1. Date of Shareholder's Meeting : March 04, 2005 10:00 AM
 
2. Place of Shareholder's Meeting :
- 2nd Floor Grand conference room of the Hyundai Motor Company
Headquarters, 231 Yangjae-dong, Seocho-ku, Seoul, Korea.
 
3. Agenda and Key Issues :
Reports :
- Audit Report
- Business Report
- Retirement of shares out of profits

Agenda :
- Approval of the financial statements of the 37th Business Year
  (1/1/2004 ~ 12/31/2004)
 
(1) BALANCE SHEET(unit : KRW 100 million)
  2004 2003
Assets I. Current Assets 87,334 83,481
1) Quick Assets 74,663 70,291
2) Inventories 12,671 13,190
II. Non-current Assets 163,361 159,021
1) Investment assets 69,463 64,778
2) Tangible assets 87,334 84,758
3) Intangible assets 6,565 9,485
Total Assets 250,695 74,091
Liabilities
and
Shareholders'
Equity
Liabilities I. Current Liabilities 67,081 74,091
II. Non-current Liabilities 46,277 43,431
Total Liabilities 113,357 117,522
Shareholders'Equity I. Capital Stock 14,808 14,786
II. Capital Surplus 53,596 53,843
III. Retained Earnings 65,683 51,701
IV. Capital Adjustments 3,252 4,650
Total Shareholder's Equity 137,338 124,980
Total Liabilities and Shareholder's Equity 250,695 242,501
 
(2) STATEMENT OF INCOME(unit : KRW 100 million)
  2004 2003
I. Sales 274,725 249,673
II. Cost of Sales 207,980 182,486
III. Gross Profit 66,745 67,187
IV. Selling & Administrative Expenses 46,930 44,830
V. Operating Income 19,814 22,357
VI. Non-operating Income 17,868 9,192
VII. Non-operating Expenses 12,793 8,076
VIII. Ordinary Income 24,890 23,474
IX. Extraordinary Gains - -
X. Extraordinary Losses - -
XI. Income before Income Tax Expenses 24,890 23,474
XII. Income Tax Expenses 7,044 5,980
XIII. Net Income 17,846 17,494
 
(3) STATEMENT OF APPROPRIATIONS OF RETAINED EARNINGS(unit : KRW 100 million)
  Amount Remark
I. Unappropriated Retained Earnings   * Dividends per share (%)
of the 37th Business year :
- Common shares :
KRW 1,150(23%) - Series 1 Preferred shares : KRW 1,200(24%)
- Series 2 Preferred shares :
KRW 1,250(25%)
- Series 3 Preferred shares :
KRW 1,200(24%)
1. Unappropriated Retained Earnings carried over from prior period 9
1. Retirement of treasury stock -651
3. Adjustment in investment securities using equity method -35
4. Net Income for the year 17,846
Total 16,848
II. Appropriation of Retained Earnings  
1. Legal Reserve 330
2. Reserve for Research Development 6,000
3. Reserve for Technology Development 7,240
4. Dividends 3,268
Total 16,838
III. Unappropriated Retained Earnings carried over to subsequent year 9
 
- Appointment of Director(s) : Nominees (2 persons)
 
 
Name Date-Of-Birth Major Career Transactions
With Company
Relationship
with major
shareholder
Recommended by
Mong Koo
Chung
(Internal
Director)
03-19-1938 -Chairman,
Korea
Standard
Association
-Ambassador
of Economic
Trade
-Chairman
& CEO,
Hyundai
Motor
Company
-Possession
Of
11,395,859
Common
shares
Management
of
Affiliate
Board of Director
Kwang Nyun
Kim
(External
Director)
09-04-1939 -Director of
the legislative
office,
Korean Bar
Association
-Member of
Grievance
settlement
Committee,
Korea
Consumer
Protection board
-Lawyer
-Possession
of
10,000common
shares
-Possession
of
stockoption
7,000 for
common shares
n/a
Outside Director
Nomination Committee
 
- Appointment of Member of the Audit Committee
 
 
Name Date-Of-Birth Major Career Transactions
With Company
Relationship
with major
shareholder
Recommended by
Kwang Nyun
Kim
(External
Director)
09-04-1939 -Director of
the legislative
office,
Korean Bar
Association
-Member of
Grievance
settlement
Committee,
Korea
Consumer
Protection
board-Lawyer
-Possession
of
10,000common
shares
-Possession
of
stockoption
7,000
for common
shares
n/a
Outside Director
Nomination Committee
 
- Limit on Remuneration for Board of Directors
 
 
Year Number of Directors
(Number of External Directors)
Limit on Remuneration
2004 8 members (4 members) KRW 5 Billion
2005 7 members(4 members) KRW 7 Billion
 
- Amendment of the Articles of Incorporation
 
 
Article Reason for
amendment
Current Revised(tentative)
Article 2 Addition of
business
objective
(Addition of airplane and
parts sales business)

Clause 26
To engage
in all kinds of
additional telecommunication
business and special
category telecommunication
business including
information provision
business for vehicle,
and sale and lease business
of equipments relating
thereto
(newly established
on March 15, 2002); and

Clause 27
Any and all businesses
which are incidental to
any of the foregoing
objectives Revised
(tentative)
Clause 26
Airplane and parts
sales business

Clause 27
Toengagein all kinds
of additional
telecommunication
business and special
category telecommunication
business including
information provision
business for vehicle,
and sale and lease
business of equipments
relating thereto
(newly established
on March 15, 2002); and
Clause 28

Any and all businesses
which are incidental
to any of the foregoing
objectives
(1) BALANCE SHEET(unit : KRW 100 million)
  2004 2003
Assets I. Current Assets 87,334 83,481
1) Quick Assets 74,663 70,291
2) Inventories 12,671 13,190
II. Non-current Assets 163,361 159,021
1) Investment assets 69,463 64,778
2) Tangible assets 87,334 84,758
3) Intangible assets 6,565 9,485
Total Assets 250,695 74,091
Liabilities
and
Shareholders'
Equity
Liabilities I. Current Liabilities 67,081 74,091
II. Non-current Liabilities 46,277 43,431
Total Liabilities 113,357 117,522
Shareholders'Equity I. Capital Stock 14,808 14,786
II. Capital Surplus 53,596 53,843
III. Retained Earnings 65,683 51,701
IV. Capital Adjustments 3,252 4,650
Total Shareholder's Equity 137,338 124,980
Total Liabilities and Shareholder's Equity 250,695 242,501
(2) STATEMENT OF INCOME(unit : KRW 100 million)
  2004 2003
I. Sales 274,725 249,673
II. Cost of Sales 207,980 182,486
III. Gross Profit 66,745 67,187
IV. Selling & Administrative Expenses 46,930 44,830
V. Operating Income 19,814 22,357
VI. Non-operating Income 17,868 9,192
VII. Non-operating Expenses 12,793 8,076
VIII. Ordinary Income 24,890 23,474
IX. Extraordinary Gains - -
X. Extraordinary Losses - -
XI. Income before Income Tax Expenses 24,890 23,474
XII. Income Tax Expenses 7,044 5,980
XIII. Net Income 17,846 17,494
(3) STATEMENT OF APPROPRIATIONS OF RETAINED EARNINGS(unit : KRW 100 million)
  Amount Remark
I. Unappropriated Retained Earnings   * Dividends per share (%)
of the 37th Business year :
- Common shares :
KRW 1,150(23%) - Series 1 Preferred shares : KRW 1,200(24%)
- Series 2 Preferred shares :
KRW 1,250(25%)
- Series 3 Preferred shares :
KRW 1,200(24%)
1. Unappropriated Retained Earnings carried over from prior period 9
1. Retirement of treasury stock -651
3. Adjustment in investment securities using equity method -35
4. Net Income for the year 17,846
Total 16,848
II. Appropriation of Retained Earnings  
1. Legal Reserve 330
2. Reserve for Research Development 6,000
3. Reserve for Technology Development 7,240
4. Dividends 3,268
Total 16,838
III. Unappropriated Retained Earnings carried over to subsequent year 9
Name Date-Of-Birth Major Career Transactions
With Company
Relationship
with major
shareholder
Recommended by
Mong Koo
Chung
(Internal
Director)
03-19-1938 -Chairman,
Korea
Standard
Association
-Ambassador
of Economic
Trade
-Chairman
& CEO,
Hyundai
Motor
Company
-Possession
Of
11,395,859
Common
shares
Management
of
Affiliate
Board of Director
Kwang Nyun
Kim
(External
Director)
09-04-1939 -Director of
the legislative
office,
Korean Bar
Association
-Member of
Grievance
settlement
Committee,
Korea
Consumer
Protection board
-Lawyer
-Possession
of
10,000common
shares
-Possession
of
stockoption
7,000 for
common shares
n/a
Outside Director
Nomination Committee
Name Date-Of-Birth Major Career Transactions
With Company
Relationship
with major
shareholder
Recommended by
Kwang Nyun
Kim
(External
Director)
09-04-1939 -Director of
the legislative
office,
Korean Bar
Association
-Member of
Grievance
settlement
Committee,
Korea
Consumer
Protection
board-Lawyer
-Possession
of
10,000common
shares
-Possession
of
stockoption
7,000
for common
shares
n/a
Outside Director
Nomination Committee
Year Number of Directors
(Number of External Directors)
Limit on Remuneration
2004 8 members (4 members) KRW 5 Billion
2005 7 members(4 members) KRW 7 Billion
Article Reason for
amendment
Current Revised(tentative)
Article 2 Addition of
business
objective
(Addition of airplane and
parts sales business)

Clause 26
To engage
in all kinds of
additional telecommunication
business and special
category telecommunication
business including
information provision
business for vehicle,
and sale and lease business
of equipments relating
thereto
(newly established
on March 15, 2002); and

Clause 27
Any and all businesses
which are incidental to
any of the foregoing
objectives Revised
(tentative)
Clause 26
Airplane and parts
sales business

Clause 27
Toengagein all kinds
of additional
telecommunication
business and special
category telecommunication
business including
information provision
business for vehicle,
and sale and lease
business of equipments
relating thereto
(newly established
on March 15, 2002); and
Clause 28

Any and all businesses
which are incidental
to any of the foregoing
objectives
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