▲ On the left of the Chairman of Hyundai Corporation, Hisayuki Matsuo, an Executive Director of Shinkang Corporation, Chiaki Kato, the CEO of Ondo Corporation, Kim Jung-Rae, the CEO of Hyundai Corporation and skipping one person, Seo Kyung-Won, the CEO of Dong Eun Forging. On the right of the Chairman of Hyundai Corporation, Cha Gil-Hyo, the CEO of Shinpyung Industry and Lee Won-Ho, the CEO of Daedong Gear.

Hyundai Corporation’s Automobile Parts Team makes joint overseas expansion to the Japanese market with the automobile parts of domestic small and medium-sized businesses.

In the evening on April 25(Thu.) in Park Hyatt Busan, Hyundai Corporation made an about-55-million-dollar contract to supply 1.1 automatic transmission parts of domestic small and medium-sized businesses to a Japanese automobile parts company, ‘Ondo Corporation’ for the next 5 years.

The parts supplied according to this contract are products manufactured by domestic small and medium-sized businesses such as Dong Eun Forging, Shinpyung Industry and Daedong Gear. This means that our company has found domestic companies with high-quality products enough to pass Japanese complicated quality criteria and led them to an export contract.

If the market is secured through this contract, Automobile Parts Team will spur to find domestic promising small and medium-sized businesses with high-quality products enough to have a chance of success in overseas markets and focus more on joint overseas expansion with them through our company’s global network.

We are expecting that it will contribute greatly to improving the competitiveness of domestic small and medium-sized businesses as well as expanding export markets if the products of domestic promising small and medium-sized businesses obtain good results in overseas markets in the circumstance that companies aggressively seek to find new markets to overcome the long-term recession of global economy.

The people concerned with this contract including Jung Mong-Hyuk and Kim Jung-Rae, the Chairman and the CEO of Hyundai Corporation, Chiaki Kato, the CEO of Ondo Corporation, Hisayuki Matsuo, an Executive Director of Shinkang Corporation, Cha Gil-Hyo, the CEO of Shinpyung Industry, Lee Won-Ho, the CEO of Daedong Gear and Seo Kyung-Won, the CEO of Dong Eun Forging participated in the signing ceremony.*