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Inverstors News

Sales of Real Estate to the Majority Shareholder and Others

2005.11.04 No. 386
1. Name of transaction party : Glovis
- Relationship with Company : Affiliate
2. Details of Transaction:
- Amount of sale : KRW 34,801,920
- Purpose of sale : Sales of asset unrelated to business operations
- Real estate for sale : 413, Meam-dong Nam-gu, Ulsan , Korea (Building : 52pyong)
- Appraisal amount of real estate for sale : KRW 34,801,920
- Accumulated balance of disposal shares for CY 2005
(excluding the amounts stated in previous announcement) :
KRW 34,801,920
- Shareholder’s Equity as of end of 2004 : KRW 13,365,111,000,000
3. Decision date : September 23, 2005
4.Others
- The “Shareholder’s Equity as of end of 2004” in #2 above represents the amount approved at the 37 th Annual General Meeting of Shareholders(March 04,2005) reflecting the effects of Kia Motors Corporation’s(a subsidiary under Hyundai Motor Company) change in its accounting policy
- The “Appraisal amount of real estate for sale ” in #2 above is based on the appraisal value amount.
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