HYUNDAI MOTOR COMPANY COMPLETES INITIAL EVALUATION


01/25/2002 Hyundai Motor Company has completed the initial phase of its evaluation of potential sites for its first manufacturing facility in the United States. The Company has narrowed its focus to sites located in Alabama, Kentucky, Mississippi and Ohio. Based on its initial evaluation, Hyundai believes that each of these states, if selected, would provide the quality work force and support structure necessary for Hyundai to successfully launch a manufacturing facility producing the high-quality world-class automobiles for which Hyundai is known.

밢n behalf of Hyundai Motor Company, I would like to thank the governors, the economic development officials and the congressional delegations from each of the states for their hard work, hospitality and commitment to helping Hyundai throughout the site selection process,?said Chung Mong-koo, Chairman of Hyundai Motor Company. 밒n particular, we appreciate the effort made by many of these representatives to learn more about Hyundai Motor Company during visits to our facilities in Korea.?/p>

Dr. Kim Dong-jin, President and Chief Executive Officer of Hyundai Motor Company, this week concluded a series of site visits in Alabama, Kentucky, Mississippi and Ohio. Each of the states remains under active consideration. Hyundai will continue its evaluation process with a thorough analysis of the logistics of launching and operating a plant at each of the potential sites. 밯e look forward to completing our evaluation process and announcing the location of our first manufacturing facility in the United States,?said Chairman Chung.