1. Category : Addition of Business Objective
2. Contents of addition : Auto supplies manufacture and sales business , the recycling business, franchise business and mail-order sales business
3. Reason for addition : To establish a basis for pursuing
a new business opportunity
4. Resolution date of Board of Directors : January 26, 2006
-attendance of outside directors : 3 out of 4
-attendance of auditors(who are not outside directors) : -
5. Expected date for the General Meeting of Shareholders :
- March 10, 2006
6. Others
1) The articles of addition of business objective in # 1 above is the resolution of the Board of Directors, and may be subject to change depending on process of resolution at the General Meeting of Shareholders
2) The Hyundai Motor audit committee is composed by all outside directors.( 3 out of 3 present)
* Details of Contents of addition
|
Before |
After |
Objective of change |
Auto supplies manufacture and sales business |
Auto Parts wholesale business |
Auto Parts wholesales business and Auto supplies manufacture & sales business |
Satisfaction of customers’ various auto related demands |
Recycling business |
Auto management business (used car purchase and sales / car scrappage) |
Auto management business (used car purchase and sales / car scrappage /recycling business etc.)and related franchise business |
Pursue Eco-friendly business and effectively respond to environmental regulations and Strengthen general customer relations for auto sales |
Franchise business |
Mail-order sales business |
Electronic commerce and internet business |
Electronic commerce and internet business & mail-order sales business |
