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Hyundai Breaks Ground on New European Headquarters


March 2005
 Filed under: HYUNDAI AND KIA CORPORATE Car News | HYUNDAI AND KIA CORPORATE Headlines

Official Groundbreaking Ceremony Held for a 50-Million Euro Investment in Europe; European Hyundai Motor Headquarters Will Relocate in Just 16 Months

RUSSELSHEIM, Germany, March 1 /PRNewswire/ -- Hyundai Motor Europe GmbH held an official groundbreaking ceremony at its new premises in Offenbach, Germany.
In the presence of the Hessian Minister of Economics, Dr. Alois Rhiel, the Lord Major of Offenbach, Mr. Gerhard Grandke, and the Korean ambassador Mr. Youngmin Kwon, Dr. Dong Jin Kim, vice chairman and CEO of Hyundai Motor Company, broke the ground on behalf of Chairman Mong-Koo Chung.

Hyundai Motor Europe will move its headquarters in June next year to the new 16,300 square meter site in Offenbach. The facility will house the Marketing and Sales Center for Hyundai in Europe with an initial team of 200 employees.

Addressing the audience, Dr. Kim explained: "We are building further momentum for our brand in the European market. For this, we have to adjust our business requirements to our challenging targets."

Dr. Kim further specified Hyundai's business intent: "We need to align research and development, and design with European market needs and requirements. We must also further diversify and regionalize our sales and marketing activities. Our products are already at a world-leading level in terms of quality. Now, in addition, we need to strengthen our brand. High quality products sold under a powerful brand will ensure our long-term success."

Kwang Heum Um, president of Hyundai Motor Europe GmbH points out: "Hyundai is breaking new ground in Europe: The new European Hyundai headquarters are designed to grow the Hyundai brand beyond the perception of being a mere niche manufacturer to its full potential, making Hyundai a credible and attractive household name in Europe."

"Today is a noteworthy day for Hesse," stated Minister Dr. Rhiel. "With the decision of Hyundai to further invest in its European operation, the county of Hesse enhanced its image as a leading automotive industry location."

Lord Major Mr. Grandke added: "In Hyundai Motor Europe we win a prominent corporate citizen to settle here in Offenbach. We are very pleased. In advancing the urban development around the Kaiserlei, we expect important ramifications for Offenbach and the suburban areas."

Established in 1967, Hyundai Motor Company has grown into the Hyundai Automotive Group which includes Kia Motors Corp. and over two dozen auto-related subsidiaries and affiliates. Employing nearly 50,000 people worldwide, Hyundai Motor Company posted 27,473 billion Korean Won in sales revenues in 2004. Hyundai motor vehicles are sold in 190 countries through 4,504 dealerships and showrooms. Further information about Hyundai Motor Europe and its products is available on the Internet at http://www.hyundai-europe.com/.

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