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Hyundai Motor Company and Its Subsidiaries
HYUNDAI MOTOR COMPANY AND ITS SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS AND SIX MONTHS ENDED JUNE 30, 2017 AND 2016 ATTACHMENT: INDEPENDENT ACCOUNTANTS’ REVIEW REPORT HYUNDAI MOTOR COMPANY WorldReginfo - 91c5474f-85a7-4929-8628-024c7a780b17 Contents INDEPENDENT ACCOUNTANTS’ REVIEW REPORT ---------------------------------------------------- 1 CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED STATEMENTS OF FINANCIAL POSITION ----------------------------------- 4 CONSOLIDATED STATEMENTS OF INCOME ------------------------------------------------------- 6 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME ---------------------------- 7 CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY ------------------------------------ 8 CONSOLIDATED STATEMENTS OF CASH FLOWS ----------------------------------------------- 10 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS ---------------------------------------- 12 WorldReginfo - 91c5474f-85a7-4929-8628-024c7a780b17 Deloitte Anjin LLC 9F., One IFC, 10, Gukjegeumyung-ro, Youngdeungpo-gu, Seoul 07326, Korea Tel: +82 (2) 6676 1000 Fax: +82 (2) 6674 2114 www.deloitteanjin.co.kr INDEPENDENT ACCOUNTANTS’ REVIEW REPORT English Translation of Independent Accountants’ Review Report Originally Issued in Korean on August 14, 2017 To the Shareholders and the Board of Directors of Hyundai Motor Company: We have reviewed the accompanying condensed consolidated financial statements of Hyundai Motor Company (the “Company”) and its subsidiaries. The condensed consolidated financial statements consist of the condensed -
Qatar Pavilion at Hannover Fair Attracts Huge Turnout of Visitors
Friday, April 5, 2019 Rajab 29, 1440 AH MERGER PLANS: Page 10 GULF TIMES Commerzbank is said to enter key weekend BUSINESS in Deutsche Bank talks Qatar pavilion at Hannover Fair attracts huge turnout of visitors atar’s pavilion at the Hanno- identifying the potential of other par- ver Fair 2019 has seen a large ticipants, drawing on their expertise Qturnout of businessmen, offi- and identifying opportunities that cials, representatives of the industri- benefi t Qatari companies. al and trade sectors and international “We are also seeking to introduce media. participants and visitors to Qatar The 1000-square metre pavilion the Rail’s projects, which consist in fi rst Ministry of Commerce and Industry phase of 37 stations, including 31 un- hosted for the second consecutive year derground stations and six ground brought together representatives of the stations as well as rail lines that will Qatar Chamber, the Qatar Financial serve the regions of Doha, Al Wakrah Centre, Manateq, the Qatar Free Zones and Lusail, to be completed in 2020. Authority, the Supreme Committee The second phase will be implement- for Delivery & Legacy, Qatar Railways ed to promote sustainable develop- Company (Qatar Rail), the Qatar De- ment in line with the Qatar National velopment Bank and the Qatar Science Vision 2030.” and Technology Park. Nasser al-Nuaimi, representative of Participating private companies in- the Supreme Committee for Delivery cluded Qatar Industrial Manufactur- & Legacy, said the committee seeks to ing Company (QIMC), Ebn Sina Medi- showcase stadiums including Al Thu- cal, Qatar Aluminium (Qatalum), Doha mama, Khalifa International, Educa- Cables, Bin Aman Plastic Industries Qatar’s pavilion at the Hannover Fair 2019 has seen a large turnout of visitors, including businessmen, offi cials, representatives of the industrial tional City, Ras Abu Aboud, Al Rayyan, and Qatar Steel. -
HHI Group Integrated Report
2019 HHI GROUP INTEGRATED REPORT 2019 HHI GROUP INTEGRATED REPORT Our Integrated Report 2019 introduces sustainable management outcomes achieved by Hyundai Heavy Industries Group’s listed companies. To provide relevant information to stakeholders, core issues derived from our materiality assessment are reported on the basis of our group’s five management philosophies. Reporting Principles ˙ GRI (Global Reporting Initiative) Standards (Core) ˙ International Integrated Reporting Council’s (IIRC) integrated reporting framework HHI GROUP Reporting Boundary ˙ Sustainability Performance: listed companies only (HHI Holdings, HHI, INTEGRATED REPORT 2019 Hyundai Electric, HCE and HMD) ˙ Business Review & 2018 HIGHLIGHTS: Hyundai Oilbank and Hyundai Global Service also included as subsidiaries of HHI Holdings ˙ Financial Highlights: consolidated basis with all affiliated entities of the Group included Reporting Scope Overall economic (under K-IFRS), social and environmental aspects of our sustainability management Reporting Period For the year ended Dec. 31, 2018 (with exceptions for some of the achievements: Jan 2016 to Mar 2019) Reporting Frequency Annual (last report issued in June 2018) Reporting Assurance Third party’s independent assurance (overall sustainability management, GHG emissions and energy consumption separately verified) HHI Group integrated report 2019 is available on our website (www.hyundai-holdings.com). As an interactive PDF for more convenient user experience. 2018 HIGHLIGHTS 2018 HIGHLIGHTS Hyundai Oilbank Pre-IPO investment agreement with Saudi Aramco Hyundai Oilbank signed a pre-IPO investment agreement with Saudi Arabia’s state-owned oil giant Aramco, worth up to KRW 1.8 trillion. Responsible for 15% of the crude oil being produced globally, Aramco was attracted to the impressive growth potential of Hyundai Oilbank as demonstrated by its notable advancement ratio (40.6%) and profitability, both of which are the highest among Korean oil refiners. -
GLOBAL SUSTAIN LEADING COMPANY Contents
BROCHURE 2021 BROCHURE BROCHURE 2021 GLOBAL SUSTAIN LEADING COMPANY contents 04 Group History SHIPPING INDUSTRY 06 Group Vision KOREA LINE CORPORATION 07 Business Portfolio 64 66 KOREA SHIPPING CORPORATION 68 SM LINE CORPORATION MANUFACTURING 70 SM LINE GYEONGIN TERMINAL 72 KLCSM TK CHEMICAL 10 KOLICO 12 BEXEL 14 NAMSUN ALUMINUM 16 NAMSUN ALUMINUM Automotive Parts MEDIA·SERVICE 18 SM INDUSTRY GMB 76 ULSAN BROADCASTING CORPORATION 20 SM INDUSTRY KT CERAMIC 78 SM HIPLUS 22 SM INDUSTRY CHEMICAL The World's Leading Company 80 SM CREDIT INFORMATION 24 SM INDUSTRY MTAT 82 SM ASSET MANAGEMENT CORPORATION 26 SM INDUSTRY AUTOMOTIVE 84 SAMWHAN COSMETICS DEPARTMENT for Innovation and Technology 28 SM INDUSTRY SEOULIM SINCHON STATION 30 SM HIGH TECH BAROKOSA 32 SM STEEL E-KOSA 34 SM HEAVY INDUSTRIES SM GLOBAL DISTRIBUTION 36 HANDUK IRON MINE & CONSTRUCTION 38 E&H 40 SM HWAJIN LEISURE 88 HOTEL TOPS 10 CONSTRUCTION 89 TOPS 10 RESORT DONGGANG CISTAR C.C 90 TOPS 10 VILLA DE AEWOL JEJU 44 KEANGNAM ENTERPRISES 91 TOPS 10 OXFIELD C.C 46 SAMWHAN CORPORATION /TOPS 10 APPLE VALLEY C.C 48 WOOBANG 50 DONGAH CONSTRUCTION INDUSTRIAL 52 WOOBANG INDUSTRIAL 54 SAMRA 56 TAEKIL CONSTRUCTION 58 SM LINE Construction Department 60 TK CHEMICAL Construction Department Since its establishment in 1988, SM Group is growing as one of GROUP HISTORY the world’s best corporations by pursuing challenges and innovations. 1988~ 2005~ 2010~ 2013~ Foundation of Business Business Growth Building Momentum Accelerating Global Business 1988.01 2005 2010 2013 Established Samra Co., Ltd. -
Your Partner, Hyundai Engineering 2010~2011 HYUNDAI ENGINEERING SUSTAINABILITY REPORT About This Report
Your Partner, Hyundai Engineering 2010~2011 HYUNDAI ENGINEERING SUSTAINABILITY REPORT About this Report Reporting Information This is the second sustainability report published by Hyundai Engineering, which includes its efforts for sustainable growth and performances in the economic, en- vironmental and social areas. This report will serve as the momentum for the ex- amination of the sustainable management, and Hyundai Engineering hopes this second publication becomes a communication channel for co-development with stakeholders. Reporting Scope and Period This report covers activities and performances of Hyundai Engineering’s sustain- able management for two years from January 1, 2010 to December 31, 2011. Reporting and Assurance Standards This report was prepared in accordance with the GRI (Global Reporting Initiative) G3.1 Guidelines together with the guidance on ISO 26000 and UNGC. The reliability of the contents was verified through the DNV Protocol for Verification of Sustainability Reporting V.3.0 standard by DNV, a third-party assurance institute. For more details about the result, please refer to the third-party verification report. Detailed Information on the Report This report in PDF version is available from the website. For more information or inquiries on this report, please contact: Team CSR Representative, Planning Team, Planning Office E-mail [email protected] Tel 82-2-2166-3824 Fax 82-2-2646-1503 Website www.hec.co.kr Address Hyundai 41 Tower Bldg., 917-9, Mok 1-dong, Yangcheon-gu, Seoul, Korea Philosophy A blueprint connecting the past, present and future of Hyundai Motor Group Since its establishment Hyundai Motor Group has built a history of success based on challenge and passion. -
Chapter 5: the 1997-98 Crisis and Its Aftermath
5 The 1997-98 Crisis and Its Aftermath The Crisis in Korea Unfolds The 1997 Asian financial crisis, in which Korea figures importantly but not exclusively, has become one of the most written-about subjects in contem- porary economics. Thus, I have no intention here of repeating in any depth what is covered well elsewhere; rather, only a summary of main events follows.1 Views among analysts vary as to exactly why the crisis in Korea occurred. Steven Radelet and Jeffrey Sachs (1998), for example, argue that the crisis in Korea was almost entirely a result of volatility of international financial flows. They claim that the “fundamentals” of the Korean economy were sound and that there was no reason, apart from the withdrawal of funds from Korea by international investors, why the econ- omy should have undergone the crisis that in fact did occur. This interpretation is, of course, somewhat at variance with the story told here. Without question, the classical macroeconomic fundamentals of Korea appeared sound in the middle of 1997; inflation was low, there was a government fiscal surplus, overall growth was positive, and the balance of payments on the current account, while in deficit, was not seriously so 1. For more detailed descriptions and analyses of the crisis, the reader should see, e.g., Goldstein (1998) or Haggard (2000). Also, Nanto and Jones (1997) provide an excellent summary and analysis of the early stages of the crisis as it affected Korea in 1997. Warr (2000) gives an analysis of the macroeconomic aspects of the crisis, and Smith (2000) offers an account of how macroeconomic and structural factors interacted as the crisis developed. -
'Pension Fund Socialism' Stewardship Code
FOCUS MONEY INDUSTRY POST SEMICONDUCTOR TaX PROBES INTO MULTINATIONAL FIRMS A LOCAL ECONOMIC DaILY REPORTS SK Group Accelerating EV Battery S. Korea’s Tax Agency to Strengthen Taxation GM and KDB Made Secret Deal to Business on Multinational Firms Facilitate Former’s Withdrawal from Korea MARCH 2019 / VOL. 32 NO. 390 www.businesskorea.co.kr Concerns on ‘Pension Fund Socialism’ under the Name of Stewardship Code 12,000 won 03 ISSN 1016-5304 Contents 2019 / Vol.32 No.390 FOCUS 08 SK Group Accelerating EV Battery Business NATIONAL 10 North Gyeongsang Province: Changing Manufacturing Paradigmto Meet Challenges of 4th Industrial Revolution 12 Songdo American Town Helps Korean-Americans Move back and Settle in Korea 14 S. Korea’s Income Polarization Deepens, Solidifying Winner-take-all Economy 15 S. Korea’s Budget Likely to Surpass 500 Tril. Won in 2020 16 Korea's Short-Term Foreign Debt Reaches 6-Year High 17 South Korea’s Exports Fall for Third Consecutive Month 18 77 Export Items of South Korea Enjoy World’s Highest Market Shares Korea's Terms of Trade Worsens for 15 Consecutive Months 20 Korea's Rush for LNG Power Generation Only Benefits Foreign Companies 21 Import Fees on LNG for Power Generation to Be Cut 84% Starting on April 1 22 S. Korea Hastily Lifts LPG Car Restrictions Without Considering the Downsides 23 Manufacturers Have Trouble Securing Carbon Credits Due to Sharp Decline in Trading 24 KEF Warns Expansion of Scope of Ordinary Wage Will Lead to Adverse Effects Korea’s Unionization Ratio, Collective Bargaining Coverage Problematically Low 25 SMEs Hiring Foreign Workers Bear Extra Burden Under Revised Minimum Wage Law COVER STORY 26 Concern over ‘Pension Fund Socialism’ Growing in Korean Business Community 28 Spread of Shareholder Activism Puts Listed Korean Companies on Edge MONEY 30 S&P Warns Major S. -
Hyundai Motor Company and Its Subsidiaries
HYUNDAI MOTOR COMPANY AND ITS SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS AND NINE MONTHS ENDED SEPTEMBER 30, 2017 AND 2016 ATTACHMENT: INDEPENDENT ACCOUNTANTS’ REVIEW REPORT HYUNDAI MOTOR COMPANY WorldReginfo - e9b7a953-858a-4220-ab2a-34e332aabea7 Contents INDEPENDENT ACCOUNTANTS’ REVIEW REPORT ---------------------------------------------------- 1 CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED STATEMENTS OF FINANCIAL POSITION ----------------------------------- 4 CONSOLIDATED STATEMENTS OF INCOME ------------------------------------------------------- 6 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME ---------------------------- 7 CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY ------------------------------------ 8 CONSOLIDATED STATEMENTS OF CASH FLOWS ----------------------------------------------- 10 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS ---------------------------------------- 12 WorldReginfo - e9b7a953-858a-4220-ab2a-34e332aabea7 Deloitte Anjin LLC 9F., One IFC, 10, Gukjegeumyung-ro, Youngdeungpo-gu, Seoul 07326, Korea Tel: +82 (2) 6676 1000 Fax: +82 (2) 6674 2114 www.deloitteanjin.co.kr INDEPENDENT ACCOUNTANTS’ REVIEW REPORT English Translation of Independent Accountants’ Review Report Originally Issued in Korean on November 14, 2017 To the Shareholders and the Board of Directors of Hyundai Motor Company: We have reviewed the accompanying condensed consolidated financial statements of Hyundai Motor Company (the “Company”) and its subsidiaries. The condensed consolidated financial statements consist of -
Setback and Turnaround Investments
The Korean Multinationals: Setback and Turnaround Investments Report dated September 11, 2013 Seoul and New York, September 11, 2013 The Graduate School of International Studies (GSIS) at Seoul National University in Seoul, and the Vale Columbia Center on Sustainable International Investment (VCC) at Columbia University in New York, are releasing the second annual report on leading multinational enterprises (MNEs) from the Republic of Korea (henceforth “Korea”). The research for this report, conducted in 2011 within the framework of an international project on the rapid global expansion of MNEs from emerging markets, covers the period 2008 to 2010.1 Highlights In 2010, the top 20 Korean multinationals, ranked by their foreign assets (Table 1), jointly held about US$ 86 billion in assets abroad.2 Hyundai Heavy Industries Co., Ltd. (HHI), a member of a leading Korean chaebol or business group (See Box 1), ranked 1st with slightly over US$ 9.6 billion. It was closely followed by Daewoo Shipbuilding & Marine Engineering Co., Ltd. (DSME), which had slightly under US$ 9.6 billion, Samsung Heavy Industries Co., Ltd (SHI) with US$ 8.2 billion, LG Display with just over US$ 7 billion, and Hyundai Motors with nearly US$ 7 billion. The top five firms together accounted for almost 50% of foreign assets of the top 20 companies. In 2010, the foreign sales (including exports) of 15 firms among the top 20 were about US$ 165 billion and 14 of the 20 firms together had 192,018 employees abroad3 (See Annex Table 1 and Tables 1a, 1b and 1c for details). The top 20 had 778 foreign affiliates (branches, subsidiaries, etc.) in 82 countries. -
US V. Hyundai Oilbank Co., Ltd. and S-Oil Corporation
Case: 2:19-cv-01037-MHW-KAJ Doc #: 1 Filed: 03/20/19 Page: 1 of 11 PAGEID #: 1 UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF OHIO EASTERN DIVISION UNITED STATES OF AMERICA, Plaintiff, v. CASE NO. 2:19-cv-1037 HYUNDAI OILBANK CO., LTD. 182, Pyeongsin 2-ro Daesan-eup, Seosan-si, Chungcheongnam-do COMPLAINT: VIOLATION OF SECTION 1 South Korea OF THE SHERMAN ACT, 15 U.S.C. § 1 and S-OIL CORPORATION 192, Baekbeom-ro, Mapo-gu Seoul, South Korea, Defendants. COMPLAINT The United States of America, acting under the direction of the Attorney General of the United States, brings this civil antitrust action to obtain equitable monetary relief and recover damages from Hyundai Oilbank Co., Ltd. and S-Oil Corporation for conspiring to rig bids and fix prices, in violation of Section 1 of the Sherman Act, 15 U.S.C. § 1, on the supply of fuel to the U.S. military for its operations in South Korea. I. INTRODUCTION 1. Since the end of the Korean War, the U.S. armed forces have maintained a significant presence in South Korea, protecting American interests in the region and safeguarding peace for the Korean people. To perform this important mission, American service members Case: 2:19-cv-01037-MHW-KAJ Doc #: 1 Filed: 03/20/19 Page: 2 of 11 PAGEID #: 2 depend on fuel to power their bases and military vehicles. The U.S. military procures this fuel from oil refiners located in South Korea through a competitive bidding process. 2. For at least a decade, rather than engage in fair and honest competition, Defendants and their co-conspirators defrauded the U.S. -
Making of Two South Korean Chaebols: Samsung and Hyundai
Jain Hardik, Kaushik Shantanu, International Journal of Advance Research, Ideas and Innovations in Technology. ISSN: 2454-132X Impact factor: 4.295 (Volume 4, Issue 1) Available online at www.ijariit.com Making of Two South Korean Chaebols: Samsung and Hyundai Hardik Jain Shantanu Kaushik [email protected] [email protected] Christ University, Bangalore, Karnataka Christ University, Bangalore, Karnataka ABSTRACT The management system of South Korean companies has been influenced by their traditional beliefs and values of Confucianism bought up by Chinese in the 15th century. Yet, this Confucius management style was shifted to western style after the Asian financial crisis of 1997. Few prominent conglomerate led to the growth of South Korea from developing the country to one the wealthiest country in the world. This paper aims to evaluate this management transition in two major South Korean companies i.e. Samsung and Hyundai. This paper shows how management system changed in South Korea in five main major vectors: (A) Decision making style, (B) shift to corporate governance, (c) change in performance management, (D) corporate social responsibility, (E) government intervention and support. Keywords: South Korea, Management Transition, Western Style. INTRODUCTION South Korea is Asia’s fourth largest economy. With extremely limited natural resources available in the country, the major reason for the growth of the economy is the production of the automobile, consumer electronics, ships, machinery, petro chemicals, and robotics. It is country with very less debt and high fiscal reserves which can be used to tackle any financial emergencies. It is one of the few developed countries which were able to avoid recession during global recession dated back to 2008. -
Hyundai Motor Company and Its Subsidiaries
HYUNDAI MOTOR COMPANY AND ITS SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE-MONTH PERIODS ENDED MARCH 31, 2020 AND 2019 (Unaudited) ATTACHMENT: INDEPENDENT AUDITORS’ REVIEW REPORT HYUNDAI MOTOR COMPANY Contents INDEPENDENT AUDITORS’ REVIEW REPORT ----------------------------------------------------------- 1 CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED STATEMENTS OF FINANCIAL POSITION ----------------------------------- 4 CONSOLIDATED STATEMENTS OF INCOME ------------------------------------------------------ 6 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME --------------------------- 7 CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY ------------------------------------ 8 CONSOLIDATED STATEMENTS OF CASH FLOWS ----------------------------------------------- 10 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS ----------------------------------- 12 152, Teheran-ro, Gangnam-gu, Seoul 06236 (Yeoksam-dong, Gangnam Finance Center 27th Floor) Republic of Korea Independent Auditors’ Review Report The Board of Directors and Shareholders Hyundai Motor Company: Reviewed financial statements We have reviewed the accompanying condensed consolidated interim financial statements of Hyundai Motor Company and its subsidiaries (the “Group”), which comprise the condensed consolidated statement of financial position as of March 31, 2020, the condensed consolidated statements of income, comprehensive income, changes in equity and cash flows for the three-month periods ended March 31, 2020 and 2019 and notes, comprising a summary of significant