Mr. Juhn, the new CEO of Hyundai, held the first executive meeting
30th of last month and proclaimed turning to profitable after three
consecutive years of deficit as the highest priority of the company.

“Since the first quarter is expected to show profits, let’s make sure
we complete financial tabulation before April, the deadline for the first
quarter report,” Mr. Juhn asked “Since our business is people oriented,
I intend to improve the employees’ morale by managing by praise and
introducing the incentive systems,” he added.

According to the company, the steel sales are brisk.  It has already took
the orders for 50,000 tons of raw materials including the steel reinforcement
for US$ 30 million and 100,000 tons of the thick plate for the ships for US
$55 million, an increase of 150% from the past year which sold US $35 million
in the same period.

For shipping and plant area, the company is in price negotiation on around
US$ 200 million for oil drilling equipment for 11-2 section in Vietnam as well as
two 3,500 ton Turkish chemical tankers and three 330 TEU Indonesian ships.

The BOD of Hyundai Corporation announced on the 9th the appointment
of Mr. Mark Juhn, the former Senior Executive Vice President of Kia Motors as the new
CEO and President of the company. 
The new CEO is known to have done a great job of penetrating the US
market as the chief of the overseas sales at Hyundai Motors by
introducing the ’10 years/100,000 miles warranty’ program.

“I understand that the general trading companies are in difficult position”,
remarked Mr. Juhn in the telephone interview with our reporter. 
“I intend to find the way to turn it market friendly by reviewing the
organizations and functions.”

Regarding the export of the automobiles which take a major portion
of the general companies business, he added, “We will find the way to
help Hyundai and Kia and discuss it with them.”