We have decided on in-house development for the next generation 6 speed automatic transmission as listed below :
1. Contents of expected development
- Object of development : next generation 6-speed automatic transmission
- Purpose of development : To increase auto product competitiveness by strengthening the major auto parts’ competitiveness
- Method of development : in-house development
* Cancellation of MOU(Sep.23,2003) with the German company ZF Friendrichshafen AG regarding automatic transmission joint-development.
- Expected completion date of development: the end of 2007
- We have decided on in-house development in order to cultivate the in-house technology capabilities of major auto parts.
- The above may be subject to change depending on the progress of business, development process and future business conditions.
Name of Disclosure Officer : Yoo No Hwang,
Director, Head of Financial Management Group
* Date of Related Disclosure
(Korea Stock Exchange): September 08, 2003