Hyundai Corporation to put spurs on the advance into emerging markets
Mr. Young-Don Noh, president of Hyundai Corporation, emphasized that "We will
consolidate the position of Ďa global business organizerí by putting spurs
on the development of new markets and the advance into the emerging markets"
Mr. Noh said like this through the general meeting of stockholders of the company,
hosted on March 21 a.m. in the head office of the Hungkuk Life Insurance building
located in Sinmunno, Seoul.
He also explained, "We accomplished excellent results in which our management
goals over the entire divisions were attained in excess of more than 100%,
as a result of making best efforts on the strengthening of sales power in last year"
Hyundai Corporation accomplished 1,668.4 billion wons of revenue and 21.2 billion
wons of operating profit in last year, which correspond to 50.5% and 15.8% up,
respectively, compared with the showings of the previous year. The net profit of
the current term also recorded 43.9 billion wons, which is more than twice
as much as the initial target.
The company explained that this improved results in last year was due to the
favorable condition of steel division according to the enlarged sales of steel
plates for shipbuilding, increased exports of machinery and equipments according
to the pioneering of new markets including Russia and Kazakhstan, and the advance
into the emerging markets as China, India and Vietnam.
In the general meeting of stockholders on this day, Hyundai Corporation approved
the original agenda of the meeting, which included new assignment of
Mr. Yeong-Il Kim, having held western GyeongGi-Do sales director of Woori Bank,
for an outside director and re-appointment of Mr. Ok-Seop Noh and Mr. Se-Heon Oh,
current non-executive directors, to the post.
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