At 9am on March 22(Fri.), Hyundai Corporation held ‘the 37th Annual Meeting of Shareholders’ in the Main Hall on B2F in the headquarter building. The following agendas were brought in  and all of them were passed without amendment. △ Approval of the balance sheets, income statements, profit appropriation statements for the 37th accounting period △ Partial amendment to the articles of incorporation △ Appointment of directors and auditors △ Approval of compensation of directors and auditors.

Our company achieved 4.7172-trillion-won sales and 62.1-billion-won business profits based on individual profit and loss for the previous period. The current net income increased to 71.8 billion won by 6.3% compared to the previous year due to the effect of continuous crisis management and the strengthening of internal stability. Based on the consolidated statement of profits and losses, we achieved 5.4684-trillion-won sales, 28.8-billion-won business profits and 51.6-billion-won current net income, which were similar to the result of the previous year. In the meeting it was decided to distribute 11.2 billion won corresponding to 15.5% of the individual profit and loss-based current net income as dividends by 500 won per share.

As for the appointment of directors, the chairman was reappointed as an inside director, and Lawyer Hong Seok-Han of Law Firm Gonggam was appointed as a new director.

The CEO stated in the business reporting session of the meeting, “Since the reoccurrence of global financial crisis, the qualitative aspect of economic growth has been emphasized and the company’s management paradigm has also been converted from the quantity-focused growth into quality-focused growth,” and added, “we will put emphasis on strengthening the basis of an 100-year-sustainable company that is never shaken by anything.”*