Decision for overseas direct investment in China
We have decided on an overseas direct investment for China in order to increase sales volume by strengthening auto marketing in China auto market as listed below :
I. Details of Overseas Direct Investment
1. Details on Company
- Company name : Hyundai Motor financial company (tentative)
- Contents of business : Auto financing
- Expected location : China
2. Contents of expected investment :
- Expected investment amount : approximately KRW 23,800,000,000 (RMB 1,900,000,000; KRW 125.52/1 RMB)
- Expected investment date : August 2006
- Purpose of investment : To increase sales volume by strengthening auto marketing in the China auto market
3. Date of Board Resolution : January 26, 2006
II. Others
- The above “details of overseas direct investment” is a approval precondition of the local China government authorities, and the “contents of expected investment” may be subject to change depending on the progress of establishment and a related law etc.
- This board resolution is for the purpose of submitting business preparation ratification to the local China government authorities.
Name of Disclosure Officer : Yoo No Hwang,
Senior vice president,
Head of Financial Management Division
