Hyundai Corporation pledged to make a new leap forward at the 40th anniversary of its foundation
– The pursuit of the vision of ‘Sustainable Value Creating Corporation’ for the future through change of major businesses and re-establishment of core values –

With about 400 people including former and current employees and executives from major domestic and overseas affiliates in attendance, Hyundai Corporation celebrated the 40th Founding Day in the Grand Ballroom on the 3rd floor of the Four Seasons Hotel in Gwanghwamun, Seoul from 6:00 pm on 29(Thursday) September 2016.

At the event, Hyundai Corporation decided to become a global conglomerate that will actively explore and organize promising products and services of small〮medium-sized and overseas companies as well as those of domestic large-sized companies. In addition, it decided to implement the medium and long term growth strategies to ensure internal stability such as development of new businesses through expansion of Value Chains and M&A, pursuit of profit-oriented investment, etc.

Prior to this, from the second half of last year, Hyundai Corporation had proceeded with the project to reestablish the company’s new core values and finally, established its three values under the vital slogan of ‘Respectable Transformation’. Furthermore, it also had set the vision of ‘Sustainable Value Creating Corporation’ for 100 years beyond new 40 years and decided to put them into action steadily.

Hyundai Corporation established in 1976 has acted as an import and export counterpart for the old Hyundai Group and has grown to become the representative trading company of Korea. In 2000, Hyundai Corporation was the first Korean single company to be awarded the $ 25 billion Export Tower Award.

Since 2010, Hyundai Corporation has reorganized its core businesses into resource development, trading and non-trade sectors by promoting business-specific specialization. On October 1, 2015, its new holding company, Hyundai CNF Inc. was established. Afterward, the resource development sector was merged with the general trading company, the trading sector.

In particular, on March 21, 2016, a new independent management group was created by separating Hyundai Corporation and Hyundai CNF Inc. from Hyundai Heavy Industries. Hyundai Corporation has decided to name the new independent group ‘Hyundai Corporation Group’ after the existing English name, ‘Hyundai Corporation’ and in the evening on September 29th(Thursday), it celebrated its 40th founding day and 1st year of a new independent group.

Meanwhile, the event was attended by a lot of people including about 40 retired employees of Hyundai Corporation with Lee Chun Lim, the former chairman of Hyundai Corporation, executives of domestic affiliates such as Ryu Jin, the president of Poongsan Group; Lee Hwi Ryeong, the president of SeAh Steel Corporation; Jung Jin Haeng, the president of Hyundai Motors; Woo You Cheol, the vice president of Hyundai-Steel Co., Ltd. ; Jung Soo Hyun, the president of Hyundai Engineering & Construction Co., Ltd.; Yoo Chang Keun, the president of Hyundai Merchant Marine Co. Ltd.; Moon Jong Park, the president of Hyundai Oilbank Co., Ltd.; Joo Young GeolㆍLee Sang Kee, the vice presidents of Hyundai Heavy Industries Co., Ltd., etc, interested parties of the financial circles such as Park Chan Jong, the president of Hyundai Marine & Fire Insurance Co., Ltd.; Yoon Kyu-sun, the vice-chairman of KEB Hana Bank; Jeong Won Jae, the vice-chairman of Woori Bank; Jeong Eun-young, the chairman of HSBC Bank; Lee, Jong CheolㆍYun Hyeon Cheol, the presidents of Samil PricewaterhouseCoopers, etc, the presidents of related authorities such as Oh Yong Seok, the president of BKL, etc, the executives of overseas customers such as Sawa Tamotsu, the president of Araya Industries, Japan, etc.