Nov. 21, 2002

Good Evening, Ladies and Gentlemen:

I want to thank you for joining us this evening. It is nice to see many friends and colleagues here tonight. Let me express my appreciation to each of you for joining us at the Seoul Motor Show and being our partners.

The Seoul Motor Show is a fairly young automotive show. Since 1995, the Seoul Motor Show has made steady progress and has grown in importance. Its importance to the automotive world is just like Hyundai – together we have continually surprised and amazed the world by our achievements.

This year, Hyundai will sell over 1.9 million vehicles worldwide. This will be a record year for us in sales and profits. And, our future prospects are excellent.

Hyundai’s future – our future and yours – will continue to be based on the value driven products and technologies you can see today in the Seoul Motor Show.

We are combining technologies and value in order to succeed in the highly competitive future for our industry.

On the floor of the Motor Show, you can see the results of our strong commitment to increasing investment in R&D.

You can also see the cars and future concepts that will give us a leading edge in styling, quality and value.

But tonight I ask you, as our dealers and distributors, to join us in a mission.

Together we must put all our efforts in taking our strong points of styling, quality and value to enhance and strengthen our brand image.

Hyundai cannot do this alone. We ask for your support and partnership in helping us provide better products, better service and better knowledge of the markets around the world.

We can succeed in increasing the attractiveness of the Hyundai brand to our existing and new customers.

We must give them the confidence to a choose Hyundai vehicle and the pride of owning a Hyundai vehicle.

If we do this -- combined with strong products, leading technologies and great value – we will achieve the important goal of true customer loyalty.

The HIC and HCD-7 concept vehicles on display at the Motor Show give you a glimpse of the future trends for our cars.

Demonstrations of the new alpha beta VVT engines and the Santa Fe fuel cell vehicle prove just how far and fast Hyundai is advancing in technology.

We are all seeing the results day-by-day.

The rapid improvement in quality and customer satisfaction led to top rankings this year by J.D. Power for the Sonata, Santa Fe and XG.

Together with you, we are moving closer to joining the ranks of the Global Top Five automakers.

We are becoming – and – we can be – a leader in the automotive industry.

Many times when I speak to audiences, I say, “watch our progress.” Tonight, I ask you to join with Hyundai and make our progress together in moving forward through the 21st century.

Thank you very much.

For further details please contact the Hyundai Motor Global Public Relations Team. Oles Gadacz, Director, Tel: (82) 2 3464-2154 or e-mail oles_gadacz@hyundai-motor.com or Jake Jang, Manager, Tel: (82) 2 3464-2117 or e-mail projjk@hyundai-motor.com or Sang Woo (William) Park, Assistant Manager, Tel: (82) 2 3464-2118 or e-mail swpark@hyundai-motor.com.

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