Hyundai Capital, Hyundai Card, and Hyundai Commercial achieved strong financial results in 2010 despite challenging economic conditions. They posted operating income increases of 23.3%, 35.9%, and 243.1% respectively compared to 2009 through prudent risk management and an emphasis on stability and growth. Hyundai Capital maintained its leading position in the auto finance market while diversifying its product portfolio. Hyundai Card enhanced its number two market share position and launched innovative new products. Hyundai Commercial achieved the largest share of the industrial materials financing market. All three companies credited their success to a focus on profitability, cost management, and implementing their unique "growth through stability" operating model.

1. Beyond Boundaries
for Sustainable Growth
Hyundai Capital, Hyundai Card & Hyundai Commercial
Annual Report 2010

2. Beyond Boundaries
for Sustainable Growth
Hyundai Capital, Hyundai Card and Hyundai Commercial:
Going beyond the boundaries to achieve sustainable growth
Hyundai Capital, Hyundai Card and Hyundai Commercial’s growth
has been based on the excellence of our differentiated services and
our distinctive corporate culture. Our motto for this year is “Beyond
Boundaries.” This refers to our goal of becoming global financial
companies whose values are trusted and respected by customers
both in and outside of Korea, surpassing the boundaries in the
financial industry and among countries while adhering to a clear and
consistent vision.
In 2011, we will redefine the roles of the financial business and
achieve dramatic new outcomes again. We will do this by deploying
customer-oriented, efficient solutions and innovative methods in
all areas of customer service, marketing, risk management, and
overseas operations.
Contents
Beyond Boundaries
04 Financial Highlights & Statements
10 CEO’s Message
18 Highlights
26 2010 At a Glance
Overview
30 Hyundai Capital Products
34 Hyundai Card Products
38 Hyundai Commercial Products
42 Hyundai Capital Milestones
44 Hyundai Card Milestones
46 Hyundai Commercial Milestones
48 Global Presence
50 Directors & Executives
52 Independent Auditor’s Report

3. 4 5
Hyundai Capital,
Hyundai Card &
Hyundai Commercial
Annual Report 2010
Financial Highlights
667
’10
& Statements
Hyundai Capital
2010 Operating Income
541
’09
(Unit: In thousands of KRW)
Balance Sheets 2010 (18th) 2009 (17th)
Assets 17,931,199,194 15,854,425,786
Cash and Bank Deposits 1,064,798,728 773,757,387
Securities 70,707,832 56,636,972
505
’08 Loans 7,548,313,689 6,826,569,128
Installment Financial Assets 3,231,825,277 2,610,205,217
Leased Assets 3,065,500,390 2,656,538,470
New Technology Financial Assets - -
Credit Securitized Assets 1,983,985,013 1,319,673,269
Tangible Assets 232,361,373 226,934,783
476 Other Assets 733,706,891 1,384,110,561
’07
Liabilities 15,727,685,523 13,698,695,872
Borrowings 14,104,329,570 12,402,217,193
Other Liabilities 1,623,355,953 1,296,478,679
Shareholders’ Equity 2,203,513,670 2,155,729,914
Capital Stock 496,537,175 496,537,175
Capital Surplus 407,539,067 407,539,067
Capital Adjustment - -
Other Accumulated Comprehensive Income and Losses -28,817,999 27,785,730
Retained Earnings 1,328,255,428 1,223,867,942
383
’06
(Unit: In thousands of KRW)
Income Statements 2010 (18th) 2009 (17th)
Operating Revenue 2,989,835,469 2,989,268,715
(Unit: In billions of KRW)
Operating Expenses 2,322,775,322 2,448,256,349
2010 2009 2008 2007 2006 Operating Income 667,060,147 541,012,366
Operating Revenue 2,990 2,989 4,330 2,245 2,209 Non-Operating Revenue 35,518,007 21,785,888
Operating Income 667 541 505 476 383 Non-Operating Expenses 23,199,083 24,598,393
Net Income 512 411 377 333 417 Income Before Income Tax Expenses 679,379,072 538,199,861
Total Assets 17,931 15,854 16,068 13,771 12,069 Income Tax Expenses 167,833,709 126,969,112
Total Shareholders’ Equity 2,203 2,156 1,650 1,414 1,178 Net Income 511,545,363 411,230,750

4. 6 7
Hyundai Capital,
Hyundai Card &
Hyundai Commercial
Annual Report 2010
Financial Highlights
& Statements
Hyundai Card 389
2010 Operating Income ’10
300
’06
286
’09
(Unit: In thousands of KRW)
Balance Sheets 2010 (16th) 2009 (15th)
258 Assets 9,915,767,764 7,291,248,896
’08
Cash and Bank Deposits 742,671,859 479,559,001
Securities 2,143,234 82,903,992
Loans 985,000 0
Card Assets 8,473,299,494 6,248,751,386
Tangible Assets 152,515,808 135,419,050
Other Assets 544,152,368 344,615,467
73 Liabilities 8,263,679,013 5,808,000,005
’07
Borrowings 6,683,842,693 4,524,145,735
Other Liabilities 1,579,836,320 1,283,854,270
Shareholders’ Equity 1,652,088,750 1,483,248,891
Capital Stock 802,326,430 802,326,430
Capital Surplus 57,704,444 57,704,435
Capital Adjustment 0 -20
Other Accumulated Comprehensive Income and Losses -748,973 46,885,772
Retained Earnings 792,806,850 576,332,274
(Unit: In thousands of KRW)
Income Statements 2010 (16th) 2009 (15th)
Operating Revenue 2,275,741,542 1,840,843,429
(Unit: In billions of KRW)
Operating Expenses 1,886,555,975 1,554,553,048
2010 2009 2008 2007 2006 Operating Income 389,185,567 286,290,381
Operating Revenue 2,276 1,841 1,594 1,121 1,110 Non-Operating Revenue 21,086,584 24,088,004
*Operating Income 389 286 258 73 300 Non-Operating Expenses 21,188,111 15,847,424
Net Income 353 213 202 234 281 Income Before Income Tax Expenses 389,084,041 294,530,961
Total Assets 9,916 7,291 5,671 4,645 3,383 Income Tax Expenses 36,213,974 81,711,914
Total Shareholders’ Equity 1,652 1,483 1,234 1,123 831 Net Income 352,870,067 212,819,047
* Including KRW 190.5 billion from the sale of Daewoo E&C in 2006 and KRW 101.1 billion from the sale of Daewoo International in 2010. Excluding provision for the unused
141.7 billion won credit line in 2007. (Excluding provision for the unused 141.8 billion won credit line in 2007)

5. 8 9
Hyundai Capital,
Hyundai Card &
Hyundai Commercial
Annual Report 2010
Financial Highlights
& Statements
Hyundai Commercial
2010 Operating Income
67
’10
(Unit: In thousands of KRW)
Balance Sheets 2010 (4th) 2009 (3rd)
Assets 2,534,174,650 1,628,843,966
Cash and Bank Deposits 99,731,978 26,822,146
Securities 144,215,195 124,097,416
Loans 1,609,845,001 871,906,483
Installment Financial Assets 427,846,646 495,955,424
Leased Assets 39,794,453 45,825,617
New Technology Financial Assets - -
Credit Securitized Assets 126,362,421 -
28
’09 Tangible Assets 1,888,330 1,752,635
Other Assets 84,490,627 62,484,245
Liabilities 2,359,395,222 1,519,996,760
Borrowings 2,279,111,480 1,486,999,361
Other Liabilities 80,283,742 32,997,399
Shareholders’ Equity 174,779,429 108,847,206
Capital Stock 100,000,000 100,000,000
14 Capital Surplus - -
’08
Capital Adjustment - -663,810
Other Accumulated Comprehensive Income and Losses -759,373 -1,858,093
Retained Earnings 75,538,802 11,369,109
10
’07
(Unit: In thousands of KRW)
Income Statements 2010 (4th) 2009 (3rd)
Operating Revenue 236,297,922 163,017,654
(Unit: In billions of KRW)
Operating Expenses 169,191,275 135,399,801
2010 2009 2008 2007 Operating Income 67,106,647 27,617,854
Operating Revenue 236 163 136 58 Non-Operating Revenue 17,740,039 4,336,400
Operating Income 67 28 14 10 Non-Operating Expenses 570,999 400,238
Net Income 65 28 14 8 Income Before Income Tax Expenses 84,275,687 31,554,017
Total Assets 2,534 1,629 1,127 861 Income Tax Expenses 19,442,184 3,543,057
Total Shareholders’ Equity 175 109 74 70 Net Income 64,833,503 28,010,959

6. 10 11
Hyundai Capital,
Hyundai Card &
Hyundai Commercial
Annual Report 2010
CEO’s Message
Beyond Excellent asset stability, outstanding
In 2010, Stable Profit Trend
Hyundai Capital, Hyundai Card and Hyundai Commercial financial results
Boundaries
Hyundai Capital
achieved industry-leading performances while
2010 was a year in which the government stimulus policy slowed down in the 2010 operating income YoY (%)
demonstrating unparalleled competencies in the areas of
+23.3%
wake of 2009’s economic uncertainties, and the age of low interest rates came
risk management, corporate culture, and marketing. to an end. Our competitors, who were less prepared than we were to cope with
crises, began to position themselves for aggressive management activities in
the second half of the year, in reaction to the central government’s stimulus
We have redefined the meaning of customer service measures. Many financial regulations were strengthened, and the country’s
Net income before income taxes (In billions of won)
by going beyond the generally prescribed identity of ratio of household debt to consumer finance rose to reach the highest level in ’10 679
the world. ’09 538
financial companies and realized efficiencies through ’08 475
business crossovers. In addition, we achieved growth by Despite these problems, we achieved our best-ever financial results while
maintaining the industry’s highest level of asset quality. As of the end of 2010,
establishing and disseminating our corporate culture,
Hyundai Capital, Hyundai Card and Hyundai Commercial posted operating income
a key driver behind any and all corporate growth. of 667.1 billion won, 389.2 billion won, and 67.1 billion won, respectively. These
Hyundai Card
2010 operating income YoY (%)
figures, all of which exceeded those posted the year before, proved that growth
We enjoyed stable earnings again this year. This was done
by putting exhaustive risk management processes in place,
and stability are really two sides of the same coin. They also demonstrated
our new and unique operating model, which we call “growth through stability.” +35.9%
It applies to all of our operations, including product planning and marketing,
by deploying our new corporate culture, and by carrying customer service, and our overall corporate culture. Net income before income taxes (In billions of won )
out innovative and creative marketing campaigns. In 2011, Hyundai Capital ranked first in the industry in all areas of new and used car ’10 389
we will continue to grow by realigning our organizational loans and leasing services, with excellent financial performance and high
’09 295
’08 272
market shares. Hyundai Card enhanced its second-place market share position
structures and enhancing our overseas operations. Including 101 billion won from the sale of Daewoo
in Korea, becoming the brand which customers want to recommend most due
International in 2010
to its differentiated products and services. Hyundai Commercial boasted the
largest share of the financing market for industrial materials.
In specific terms, Hyundai Capital’s operating income and net income surged by Hyundai Commercial
23.3% and 24.4%, respectively, from the previous year. In addition, the company 2010 operating income YoY (%)
+243.1%
maintained its high level of return on assets (ROA). These accomplishments
were due to its profitability-oriented strategies and a significant decrease in its
bad debt expenses in the wake of the country’s ongoing economic recovery. We
also maintained a stable revenue structure, with car loans making up 80% of our
Net income before income taxes (In billions of won )
asset portfolio, while laying the groundwork for even more growth in the future
’10 84
by advancing into a wide variety of prime financial products, including leasing,
’09 32
personal loans, and mortgages. Most of our collateral for loans is automobiles
’08 14
and real estate, with personal loans accounting for a mere 8.7% of the total.
Hyundai Card enjoyed the industry’s highest monthly credit card usage,
averaging 740,000 won per cardholder. This was due to its excellent asset
qualities and a high level of customer loyalty. In addition, our VVIP card, “the
Black,” which targets the top 0.05% of the country’s income earners and is
limited to only 9,999 cardholders, led the Korean credit card market, while using
liquid metal as its material, a first for the industry.

7. 12 13
Hyundai Capital,
Hyundai Card &
Hyundai Commercial
Annual Report 2010
CEO’s Message
Hyundai Card also posted stable increases in terms of market share and number We are also striving to build a more efficient corporate culture, including
Sound Asset Portfolio Excellent Asset Quality
of customers. We have ranked second among Korean credit card issuers in terms expedited decision-making and actions and more open and easier
of total sales volume since the second quarter of 2009, and second in the industry communications. Hyundai Capital
Hyundai Capital
(including bank credit card divisions) in terms of credit purchases since 2009.
2010 Total Financial Assets (In billions of won) 2010 Over 30 Days Delinquency (%)
Our number of cardholders exceeded 9.8 million as of the end of 2010, based on Our decision-making system is now so streamlined that our CEOs can approve
personal card usage amounts.
18,721 proposals submitted by working level employees in about seven hours. At our
executives’ meetings, there are only three rules: the topic must have a company- 1.6%
The issuance of the “Platinum 3” series, which added practicality to its platinum wide impact, everyone should speak, and the decision should be made at
services, exceeded 24,000 cardholders only four weeks after its launch in Asset Portfolio
that meeting. Over 30 Days Delinquency (%)
November 2010, with monthly spending per cardholder averaging 2.5 million won.
’10 81.4% 18.6% 18,721 We are further improving our corporate culture through a “360-degree corporate ’10 1.6
16,480
Hyundai Commercial’s operating income and net income ballooned by 243.1% and ’09 81.1% 18.9%
culture assessment project” while revamping our entire organizational structure ’09 1.8
79.5% 20.5% 16,030 ’08
231.4%, respectively, over the year, thanks to careful asset management based ’08 to the most efficient level. We are also committed to disseminating our 2.3
’07 82.3% 17.7% 15,130 ’07 1.6
on its auto financing portfolio. corporate culture overseas by operating a human resources exchange program
’06 87.1% 12.9% 13,472 ’06 1.7
in conjunction with Hyundai Capital America (HCA), which we operate on behalf
Auto financing holdings made up 85% of its total assets, due to a business  Car Business  Non-Car Business
of Hyundai Motor Group.
structure that is markedly different from that of other companies that specialize
in the credit financing business. It maintained a healthy portfolio of financial Another improvement is to make our company buildings more employee-friendly.
assets, with corporate financing and PF and similar assets accounting for less For example, The Box, an employee cafeteria, and our auditorium were both built
Hyundai Card Hyundai Card
than 20% and 10%, respectively, of the total. This is due to its policy of strict and as employee rest spaces and open venues for enjoying cultural events, such as
2010 Total Financial Assets (In billions of won) 2010 Over 30 Days Delinquency (%)
strategic asset management. “Super Talk.”
Overall, we achieved our best-ever results in 2010. This was based on
our preemptive customer services, a creative corporate culture, and
9,186 Through this distinctive corporate culture, Hyundai Capital, Hyundai Card and
Hyundai Commercial are maximizing the individual abilities of their employees,
0.4%
preparation for global growth. In addition, we enhanced our corporate social while winning recognition for our value from global companies and opinion
Asset Portfolio Over 30 Days Delinquency (%)
responsobilities through our “Talent Donation” social contributions activities, leaders.
and continued extending boundaries within the industry. ’10 65.7% 34.3% 9,186 ’10 0.4
’09 74.2% 25.8% 7,136 ’09 0.3
’08 72.9% 27.1% 5,616 ’08 0.7
’07 74.1% 25.8% 4,507
Future-oriented customer ’07 0.4
A leader in corporate culture
3,508
satisfaction services
’06 77.6% 22.4% ’06 2.2
 Credit Purchases  Financing Products
Hyundai Capital, Hyundai Card and Hyundai Commercial are creating rules for a Hyundai Capital, Hyundai Card and Hyundai Commercial proclaimed 2009
new type of corporate culture, whereas existing ones have merely remained at “Customer Solutions (CS) Year,” with an emphasis on maximizing customer
encouraging job performances, arousing a sense of community, and providing solutions. The term “customer solutions” refers to proactive and preemptive
Hyundai Commercial Hyundai Commercial
employee benefits. CS strategies that reduce the likelihood of complaints by responding to our
2010 Total Financial Assets (In billions of won) 2010 Over 30 Days Delinquency (%)
customers’ voices promptly and putting innovative services in place in advance.
2,333 1.0%
The “PRIDE,” a core value of our corporate culture, denotes our pride as members
of organizations that are growing into global financial players. In order for these CS strategies to be implemented throughout the company, our
first priority was to efficiently share “problems,” namely customer complaints.
We hire high-caliber human resources in various areas, and have the nation’s
Asset Portfolio To this end, we installed a “Wailing Wall” inside The Box last year. It features Over 30 Days Delinquency (%)
largest number of employees with experience outside of the financial sector.
“no-holds-barred” criticisms registered on our call centers and websites
We also take pride in our in-house “Career Market,” an internal posting system ’10 85.4% 14.6% 2,333 ’10 1.0
regarding our services and operations.
where our employees apply for a job or literally put up themselves for sale. A full ’09 86.5% 13.5% 1,483 ’09 0.9
70% of our personnel shifts are made through this innovative system. ’08 77.8% 22.2% 1,050
We have also operated a unique and innovative “CS portal.” It provides ’08 2.1
’07 89.1% 10.9% 822 ’07
information on the current level of customer complaints and satisfaction in the 1.9
 Car Business  Non-Car Business

8. 14 15
Hyundai Capital,
Hyundai Card &
Hyundai Commercial
Annual Report 2010
CEO’s Message
form of weather charts: fair, partly cloudy, cloudy, rainy, and stormy. In addition, had closely studied how our customers actually use their cards. Besides being
Conservative Provisioning Policy Well-Diversified Funding Portfolio
our management teams are also involved in calling customers to deal with their very successful, the process of their development from concept to delivery was
problems and resolve their grievances. As a result of these efforts, we were able judged to be both innovative and ground-breaking.
Hyundai Capital Hyundai Capital
to make three thousand improvements to our systems during the year.
Actual 2010 Reserve/Regulatory (FSS) Guideline (%) 2010 Funding Portfolio
We also provide our customers with opportunities to enjoy rest and relaxation
After bringing up the question on “Customer Solution” in 2009 and putting these
measures in place in 2010, we will spend 2011 verifying them. We will see how 118.1% through new and meaningful cultural activities in diverse genres, including
concerts, exhibitions, and sports events.
ABS
16.5%
much our customer services and systems have improved, and begin to align Loans
our solutions preemptively. Preemptive solutions are our pledge that we will be For example, we have hosted “Super Match,” a competition featuring sports 7.4%
 FSS Guideline vs.  Actual Reserve (In billions of KRW)
more adept at looking at our services from the viewpoints of our customers and superstars; “Super Talk,” in which Korean and overseas celebrities share their CP
8.5%
’10 401 478 118.1% thoughts on a variety of topics; and “Super Concert,” with performances by Bonds
reflecting them when we introduce new products. 67.5%
’09 288 442 153.2%
world-famous artists. These activities are part of our efforts to genuinely
’08 282 427 151.6%
One result of these efforts was the launch of our new Platinum card series in connect with our customers.
’07 246 398 161.5%
2010. We have received very favorable responses from our customers to these
products, all of which were developed through exhaustive CS pre-screening and
’06 306 461 150.4% Since the development of our own typography in 2004, we have deployed • aintainingtheABSandCPportiontowithin
M
integrated branding strategies in which our brands market themselves. We are 20% and 10%, respectively
testing, instead of releasing products first and then modifying services based
• ong-termborrowings:63.5%
L
on customer responses. Other products that we have introduced include “MY consistently reflecting our corporate identity (CI) at our cultural events and
• verseasborrowings:36.4%
O
BUSINESS,” which combines loans with comprehensive business supports. This advertisements and other activities.
widened range of products and enhanced customer communications shows our Hyundai Card
The successful creation of these unrivalled brands has allowed Hyundai Hyundai Card
commitment to developing more advanced customer solutions. Actual 2010 Reserve/Regulatory (FSS) Guideline (%)
Capital, Hyundai Card and Hyundai Commercial to deploy a branding philosophy 2010 Funding Portfolio
We also increased the number of our Finance Shops to twenty-three and plan to
add twenty-one more by the end of 2011. These are new-concept spaces that
127.7% that genuinely communes with their customers and offers them distinctive
experiences. Loans
10.1%
ABS
7.2%
allow us to deliver our financial services in a more personal and comfortable
 FSS Guideline vs.  Actual Reserve (In billions of KRW) CP
manner. Customers can also request advisory services through its website, with 9.1%
an advisor contacting them within a maximum of four hours. In addition, various
cultural and educational programs are carried out in these venues, winning
’10 148
’09 114 142
189 127.7%
123.9%
Global growth with a unique model Bonds
73.6%
favorable responses from our customers. ’08 94 135 143.3%
Improving Hyundai Capital’s global business capabilities has also become one of
’07 52 104 200.4%
our must-dos, since Hyundai Motor and Kia Motors are both faring well in the
Although anyone can imitate our marketing campaigns, designs, and ’06 89 158 178.1%
world market. Hyundai Capital is seeking more strategic and profitable overseas • aintainingtheABSandCPportiontowithin
M
advertisements, the competitiveness of our CS and operations cannot be
business opportunities, breaking away from conventional methods of advancing 20% and 10%, respectively
replicated. These differentiated CS strategies will ensure that Hyundai Capital,
internationally. We are taking a variety of steps to ensure that we will be as • ong-termborrowings:56.5%
L
Hyundai Card and Hyundai Commercial enjoy stronger competitiveness in 2011. • verseasborrowings:6.4%
O
successful overseas as we are at home within five years.
Hyundai Commercial
Actual 2010 Reserve/Regulatory (FSS) Guideline (%)
We have been supporting the management of Hyundai Capital America in the Hyundai Commercial
US since 2007. Based on our solid network, the company achieved impressive
Innovative Marketing
168.0%
2010 Funding Portfolio
growth, including doubling the size of its assets. Unlike other Korean financial
ABS
companies which focus heavily on servicing Korean customers living abroad, we 8.1%
Hyundai Capital, Hyundai Card and Hyundai Commercial are implementing
provide services to local citizens. Loans
innovative marketing ideas in a wide variety of areas, including the business 18.2%
 FSS Guideline vs.  Actual Reserve (In billions of KRW)
realm and cultural activities, based on creativity and a spirit of challenge.
We also strengthened our international network by successfully advancing into
’10 16 26 168.0%
Europe in 2009. This was done by enhancing our relationship with Santander, Bonds
In terms of business, we analyzed what sort of products our customers would ’09 10 22 222.8% CP 60.6%
a member of the leading consumer finance house in Europe and a leader in the 13.0%
find most useful. ’08 10 17 179.7%
’07 5 15 286.0% field of auto financing.
As a result, we launched customer-centered, signature products. These include
In China, the world’s biggest automobile market, we are in the process of
“the Black,” Korea’s very first VVIP credit card; “MY BUSINESS,” an integrated • aintainingtheABSandCPportiontowithin
M
obtaining the government’s approval for the establishment of a joint venture 20% and 10%, respectively
solution for small businesses that provides business support as well as loans;
with our local business partner. In addition, we opened an office in India in 2010, • ong-termborrowings:60%
L
and the Platinum 3 series credit cards, which were only introduced after we

9. 16 17
Hyundai Capital,
Hyundai Card
Hyundai Commercial
Annual Report 2010
CEO’s Message
and plan to do the same in Brazil very soon. These steps will allow us to evolve
into a truly global financial company boasting strong local partnerships.
Management strategies for 2011
Our strategic goals are to boost our capabilities by more than 50% and continue strengthening the
We are also dedicated to nurturing human resources (HR) for multilateral
consolidation of our two companies. This will be done by hiring and nurturing human resources
overseas expansion, mainly by enhancing their global capabilities. This includes
who have a global outlook, and by basing our operating decisions on three-year plans instead of
an exchange program through which our overseas employees at Hyundai Capital
short-term outlooks
America come to work in Korea. Going forward, we will use Hyundai Capital
America as an “advance post” for our overseas expansion activities and an HR Hyundai Capital, Hyundai Card and Hyundai Commercial are both widely recognized for their
training center by sending employees in all the operating areas at our head leadership in the Korean financial industry. Innovations instituted by challengers (as we used to be
office there. ourselves) are self-innovations, but innovations instituted by leaders are made for the good of the
industry as a whole.
Our flexible approach to local business conditions and the excellence of our
human resources will work in tandem to add to our value in world markets, We will continue to create new rules for the finance industry, and open up and lead markets with
while strengthening our profile as a truly global financial company with a unique new rules. One of our new rules is “coexistence and balance.” Rigorous risk management and
and highly innovative corporate culture. active marketing should go hand in hand. Hyundai Card’s credit cards will become our customers’
favorites if we enhance their brand preference and increase the number of high-quality customers
by adding to our marketing expenses.
Citizenship If we spend our marketing expenses effectively, it will lead to a reduction in our debt expenses,
and ultimately result in overall savings.
Hyundai Capital, Hyundai Card and Hyundai Commercial support communities
through a program called “Talent Donations.” We utilize our strengths in Risk management and marketing are both aspects of growth and stability. Their inherent harmony
marketing and financial services to help the underprivileged and the society will be evident in our products and services. The success of the Hyundai Card Premium 3 Series has
at large. been made possible by the harmony of two seemingly conflicting values: “premium” and “practical.”
For example, the “Hyundai Motor Group Smile Microcredit Foundation” helps Hyundai Capital, Hyundai Card and Hyundai Commercial are thinking in the long-term, deciding
the financially underprivileged to stand on their own through our “Smile what kind of companies they want to be three years down the road. In our role as rule creators,
Learning Center,” “Smile Supporters,” and its “Realize Dream” project. In we must look to a greater future, rather than concentrating on competition within the industry.
addition, the foundation extends loans to North Korean defectors to assist
Even though we are much bigger than we used to be, we will continue to rely on the strong
them with business startups, while operating training programs through an
points that we used to grow when we were a smaller operation. We will keep growing “beyond
agreement with the Ministry of Unification.
boundaries” in all areas of the Korean finance industry, while stretching our wings to advance into
The “Art Shelter,” a new public transit center at Seoul Station that we donated the rest of the world at the same time.
last year, received an International Design Excellence Award (IDEA), an iF
Dear investors and customers:
design award, and a reddot design award. Combining art and technology, it
adds practicality and aesthetic values to this public facility.
In order to keep earning your respect and trust, the employees of Hyundai Capital, Hyundai
Card and Hyundai Commercial will continue to retain and develop industry-leading services by
Hyundai Card sends Korean art majors to intern at New York’s Museum of
accelerating the consolidation of the two companies--one of our primary branding strategies. We
Modern Art in the spring, summer, and autumn, helping them gain valuable
will always operate from the viewpoint of our customers, in order to become their favorite brands.
international experience.
Thank you.
Hyundai Capital, Hyundai Card and Hyundai Commercial will carry out more
corporate social responsibility (CSR) activities in 2011. Instead of relying
on donations, we will implement ongoing and substantial CSR activities by
diversifying and systematizing our CSR areas, such as culture and the arts,
finance, and services for the underprivileged--all based on the principles of
Ted Chung
“Talent Donation,” “Volunteerism,” and “Self-Support.”
President CEO
Hyundai Capital, Hyundai Card
and Hyundai Commercial

10. 18 19
Hyundai Capital,
Hyundai Card
Hyundai Commercial
Annual Report 2010
Highlights
Customer
01 Solution
Providing one-step-ahead solutions for customer needs
We provide preemptive customer solutions that are of real help, going
well beyond the general concept of customer satisfaction that only
offers assistance upon demand.
One way that we listen to the voices of our customers is by installing
a “Wailing Wall” on which customer complaints are shown without
filtering. In addition, we operate a “CS portal” that records customer
problems and requests in real time. We anticipate customer needs in
advance and apply the results to all the products we are developing.
Two examples are our landmark “MY BUSINESS” product, which
offers loans along with business supports, and the Platinum 3 credit
card series, which was only developed after we had closely analyzed
customer usage patterns.
These quick and efficient solutions offer our customers new
experiences and differentiated services based on our insights into
their wants and needs.
Platinum3 Series MY BUSINESS

11. 20 21
Hyundai Capital,
Hyundai Card
Hyundai Commercial
Annual Report 2010
Culture
Highlights
02 Marketing
Redefining the financial business beyond boundaries
Hyundai Capital, Hyundai Card and Hyundai Commercial are
redefining the limits of financial businesses.
Our unique way of thinking and our innovative ideas result in
products and services that other financial companies have never
thought of. For example, the “Super Talk” meetings that we began
in 2010 act as venues in which both Korean and international
opinion leaders from a wide range of fields can share their
thoughts and knowledge. In addition, we host a wide array of
cultural and artistic programs that are extremely popular with our
customers. They include “Super Match,” in which superstars from
the sports world compete against each other, and “Super Concert”
featuring world-renowned artists.
In addition to creating products that cannot be equaled, Hyundai
Capital, Hyundai Card and Hyundai Commercial are always there
for their customers. This is based on our philosophy of truly
communicating with our customers and creating new markets
and services.
Super Concert Super Match

12. 22 23
Hyundai Capital,
Hyundai Card
Hyundai Commercial
Annual Report 2010
Highlights
03 Global
Growth
Advancing into the world with global capabilities
Hyundai Capital, Hyundai Card and Hyundai Commercial have
established a more efficient corporate culture based on a
philosophy of open communications. Now we are concentrating
on enhancing our global capabilities to ensure sustainable growth.
Besides hiring and fostering the development of human resources
with global outlooks, we are continually realigning and improving
the systems that are necessary for our future organizational
growth. In addition, we are enhancing our world-wide network.
This includes forming alliances with Santander Consumer Finance,
the leading consumer finance house in Europe, and strengthening
our partnership with GE Capital. Hyundai Capital America,
our global business outpost that uses local human resources
targeting local residents, has set new standards for overseas
expansion based on our strong network.
We are committed to developing industry-leading overseas
operations throughout the world, including Europe and China.
This goal will be achieved through optimizing their operations and
by hiring and training internationally-oriented human resources.
2010 Global Site Visit Hyundai Capital America Office Building

13. 24 25
Hyundai Capital,
Hyundai Card
Hyundai Commercial
Annual Report 2010
Highlights
04
Citizenship
Broadening the meaning of social contributions
through “Talent Donation”
Hyundai Capital, Hyundai Card and Hyundai Commercial are changing
the meaning of corporate social responsibilities.
For example, the “Hyundai Motor Group Smile Microcredit Bank”
helps the financially underprivileged become self-supporting through
its “Smile Learning Center” and the “Realize Dream” project, which
extends beyond simple financial loans. The “Art Shelter,” a stylish bus
shelter in front of Seoul Station that we donated last year, received
an International Design Excellence Award (IDEA), an iF design award,
and a reddot design award. Combining art and technology, it creates
new values by deploying a practical design to beautify a public
facility. We also offer opportunities and hope to young Korean fine
arts students by supporting internships for them at the Museum of
Modern Art (MoMA) in New York.
In 2011, Hyundai Capital, Hyundai Card and Hyundai Commercial
will carry out its corporate social contribution activities in a more
proactive and systematic manner through a corporate social
responsibility (CSR) organization.
Internship at MoMA in New York First “Realize Dream” Store

14. 26 27
Hyundai Capital,
Hyundai Card
Hyundai Commercial
Annual Report 2010
2010 At a Glance
January March May July October November
Fitch Ratings raises Hyundai Card’s Hyundai Commercial selected as Launches Hyundai Card T Launches Direct Loan personal loans Opens Hyundai Motor Group Smile Issues sixth edition of Samurai Bonds
credit rating outlook “Financial Lease Service” Launched a credit card that offers both Launched Direct Loan, available by phone Microcredit Bank’s first “Realize Dream” Succeeded in the issuance of 30
Fitch Ratings, a well-known international Power Brand Company mileage accumulation and travel benefits. or online without bothersome delays. store billion worth yen of Samurai Bonds.
credit ratings agency, raised Hyundai Organized by the Seoul Economic Daily, The Hyundai Motor Group Smile Microcredit This demonstrated that we had won
Hosts “Hyundai Card Super Concert 09 - Supports business startups by North
Card’s credit rating from “BBB (Stable)” this honor was bestowed in recognition Bank operates a “Realize Dream” project recognition for our capabilities in the
Andrea Bocelli” Korean defectors
to “BBB (Positive).” of the company’s decision to position along with its “Smile Learning Center” to Japanese fund market through the
Hosted Hyundai Card’s ninth Super The Hyundai Motor Group’s Smile
itself as a specialist in the field of lease help small businesspeople support issuance of yen-denominated bonds on
Publishes “Zagat Seoul Restaurants Concert, featuring Andrea Bocelli, an Microcredit Bank and the Korean Ministry
financing for industrial machinery that themselves. In October, the center opened five separate occasions.
2010” Italian tenor and classical cross-over artist of Unification provided loans and training
individuals or corporations need to carry the project’s first store, “Sunlight Farm,”
Published a guidebook on leading with a heavenly voice. programs to support business startups by Fitch Ratings raises credit rating to
on their businesses. a fruit store in Hongje-dong, Seoul,
restaurants in Seoul in cooperation with North Korean defectors. “BBB+ (Stable)”
following the store’s renovation and
Zagat, a world-wide provider of guides Credit ratings were adjusted upward
Hosts “Hyundai Card Super Concert 10 - management consulting.
for hotels, nightlife, shopping, zoos, by one notch to “BBB+ (Stable)” from
music, movies, theater, golf, and airlines. April June Usher”
Launches MY BUSINESS secured loans “BBB (Positive)” by Fitch Ratings, an
Hosted Hyundai Card’s tenth Super Concert
for commercial leases internationally-recognized credit rating
Hosts Hyundai Card Super Concert 07 - featuring Usher, an American RB star.
Opens the “Smile Learning Center” Number of lease and rental vehicles Launched “MY BUSINESS Secured agency.
Green Day
at Hyundai Motor Group Smile exceeds 100,000 Launches Network Loan by Hyundai Loans for Commercial Leases,” enabling
Hosted the first concert in Korea by Launches Platinum 3 Series
Microcredit Bank The number of Hyundai Capital’s lease Commercial customers to access loans for business
Green Day, a Grammy Award-winning rock Launched “Platinum 3 Series (M3, H3, R3,
The goal of the Smile Learning Center is to and rental vehicles exceeded 100,000, a Launched “Network Loan” that lends startups and operating funds using their
trio from the US. T3),” redefining the meaning of platinum
offer the financially underprivileged advice first for the industry. money for purchasing components to apartment or house lease deposits as
cards.
on business start-ups and other ways of business partners of Hyundai Motor and collateral. This was a first for the industry.
Hosts “Hyundai Card Super Match 10 -
empowering themselves. This is done Kia Motors. Enters into partnership for “green
February through lectures and consulting.
Medalist on Ice”
A gala show featuring figure skating
Launches “MY COMPANY” card
finance” with Korea Finance Corporation
Launched “MY COMPANY” corporate card,
Launched “Green Loan” in alliance with
Establishes Hyundai Capital Germany
Launches Hyundai Card smartphone apps
Launched a Super Concert application
medal winners from the Vancouver
Winter Olympics, including Evan Lysacek,
August offering holders a wide range of custom-
tailored benefits.
Korea Finance Corporation, offering low
Established a joint venture in Germany interest rates to customers who purchase
and a Hyundai Card application. They can Evgeni Plushenko, and Asada Mao.
by entering into a strategic alliance with Hosts “Hyundai Card Super Concert 11 - Hosts “Super Talk 01 - environmentally friendly buses.
be used to confirm payments, approved
Santander Consumer Finance. One goal of Stevie Wonder” Innovations in Art”
amounts, the usage of points, and others.
this move was to forward the company’s Hosted Hyundai Card’s eleventh Super Hosted “Super Talk,” a new-type talk
advance into Europe. Another was to Publishes “Seoul: A Monocle City Survey” July Concert. The featured artist was Stevie program with “Innovation in Art” as December
provide auto-financing services for Kia Published “Seoul: A Monocle City Survey,” Wonder, an American musical legend its topic. The participants included
Motors customers in Germany, covering the city’s design, fashion, food, Named one of the best companies to Glenn D. Lowry (the Director of MoMA),
Enters into partnership with The Opens “MY BUSINESS Zone”
tourism, and cultural amenities. Created in work for in Korea Barry Bergdoll (the Chief Curator of
Hosts Hyundai Card Super Concert 08 - Museum of Modern Art (MoMA) Opened “MY BUSINESS Zone,” an offline
collaboration with Monocle, an influential Named one of the ten best companies Architecture and Design at MoMA),
Whitney Huston Concluded a partnership agreement with counseling center for self-employed
U.K.-based lifestyle magazine. to work for in Korea. Also ranked first photographer Kim Jung Man, pianist Ji
Hosted a concert by the legendary pop diva, MoMA, a cradle of modern art. It involved businesspeople.
in the “card and capital” category in Yong, and film director Lim Sang Soo.
Whitney Huston internships by Korean arts students and
the K-Great Work-Place Index (GWPI) Korea’s top 3 credit rating agencies
exchanges of exhibitions and curators. Hosts “Hyundai Card Super Concert 12 -
May survey conducted by Korea Management
Association Consulting (KMAC)
Itzhak Perlman”
upgrade Hyundai Commercial’s credit
rating
“Art Shelter” wins three world-leading
March design awards
Hosted a recital by world-renowned
violinist Itzhak Perlman.
Hyundai Commercial’s credit rating
Issues 125 billion won worth of Launches MY BUSINESS Franchise Loans
The “Art Shelter,” a stylish bus shelter at was raised to “AA- (Stable)” from “A+
Malaysian ringgit bonds Launched “MY BUSINESS Franchise Loans”
Implements “Customer Grievances Seoul Station that we donated to the city Hosts Hyundai Card Super Match 11 - (Positive)” by NICE Investors Service,
Issued 125 billion won worth of Malaysian for Hyundai Capital and Hyundai Card
Settlements by Management Program” of Seoul, won the world’s top three design Novak Djokovic vs. Andy Roddick Korea Ratings, and Korea Investors
ringgit bonds following upgrades in credit franchisees, offering them 10% lower
Began operating a CS program in which awards from the International Design Hosted a match between tennis superstars Service.
ratings by a number of overseas agencies. annual interest rates than those granted
management helps to settle customer Excellence Awards (IDEA), iF, and reddot. Novak Djokovic and Andy Roddick.
for general business funds.
grievances. This is just one example Hosts “Hyundai Capital Invitational 2010: They played a surprise match in front of our
of our commitment to customer-first BBC Symphony Orchestra” JCR and RAM adjust credit ratings and head office in Yeouido, Seoul before the
management, taking the initiative and Hosted the BBC Symphony Orchestra’s business outlooks upward September Super Match.
approaching customers first. rendition of the BBC Proms. Credit ratings were upgraded to “A
(Stable)” from “A- (Stable)” by JCR,
Opens Lounge at Incheon Airport Hosts “Hyundai Capital Invitational 2010”
Launched voice recognition automatic Japan’s largest credit rating agency, and
Opened a lounge for Hyundai Card Hosted a Korea-Japan professional golf
response system (ARS) service to “AA1 (Positive)” from “AA1 (Stable)”
customers to provide them with enhanced competition, participated in by leading
Launched Korea’s first-ever ARS voice by RAM, Malaysia’s leading credit rating
travel services. professional golfers from both nations.
recognition service. This refers to a system agency.
that recognizes customers’ voices and
links them to the service(s) they want
to use.
 Hyundai Capital  Hyundai Card  Hyundai Commercial  Hyundai Capital Hyundai Card

15. 28 29
Hyundai Capital,
Hyundai Card
Hyundai Commercial
Annual Report 2010
Overview
Hyundai Capital, Hyundai Card and Hyundai Commercial
are growing stronger every day. This is done by
realizing the ultimate in customer satisfaction backed
by our strategy of stable yet unique management,
an excellent organizational culture, and new and
innovative visions.
In 2011, we will enhance our global competitiveness
Overview
by bolstering our business capabilities even further.
This will allow us to sustain value-oriented growth by
overcoming any and all limitations to our continuing
growth-including downturns in the global economy.
We are committed to creating values for everyone,
beyond boundaries.
Hyundai Capital, Hyundai Card Hyundai Commercial
Overview
30 Hyundai Capital Products
34 Hyundai Card Products
38 Hyundai Commercial Products
42 Hyundai Capital Milestones
44 Hyundai Card Milestones
46 Hyundai Commercial Milestones
48 Global Presence
50 Directors Executives
52 Independent Auditor’s Report

16. 30 31
Hyundai Capital,
Hyundai Card
Hyundai Commercial
Annual Report 2010
Products Overview
Hyundai Capital Hyundai Capital Products Overview
Auto Financing
Auto Financing Personal Loans Mortgages Loans
Autoplan New Car Program (Autoplan) Direct Loan Prime Mortgage Loan (Prime Mortgage)
A new car purchasing program for Hyundai Personal loans that can be accessed quickly A loan product that allows borrowers to
and Kia cars, ranking first in the Korean and conveniently without the need for use up to 85% of their home’s market
auto financing market complex documentation or on-site visits value as collateral
Autoplan Used Car Program (Autoplan) Prime Loan Prime Mortgage Loan Using Key Money
A leading used car installment payment Personal loan products that can be as Collateral (Prime Mortgage)
program, which come with warranties conveniently obtained through visiting Loan A loan product that allows customers to
Planners following consultations use up to 80% of their apartment or home
KlassAuto Auto Leasing (KlassAuto)
lease deposits as collateral for personal
A leading Korean auto lease program,
or business needs
offering drivers exclusive management
Personal Loans services, equipped with the best repair and Prime Mortgage Demand Deposit
maintenance system Account
A home loan product that acts like a line
KlassAuto Long-Term Rental Car Program
of credit, allowing customers to make
(KlassAuto)
deposits and withdrawals on demand
A practical, money-saving, long-term rental
car program that offers drivers a full range
of the Hyundai Motor Group’s vehicle
management services
KlassAuto Corporate Auto Leasing/Rental
(KlassAuto)
An auto leasing and rental program for
corporate customers that ranges from
Mortgages Loans vehicle purchasing through the vehicle’s
maintenance to the car’s eventual sale
Self-Employed Customer Services Corporate Events
Business Financing
Business Loan PLUS+ Membership Invitational
A loan product that allows self-employed A financial life protection service that is Corporate events that support culture and
businesspeople to borrow for operating provided free to Hyundai Capital customers, the arts and lesser-known sports. Another
Self-Employed Business Financing funds this is a first for the Korean finance first for the industry.
industry
Business Leasing and Car Rental
A car leasing and rental product that Auto Inside Spur-of-the-moment concerts held
allows customers to access professional A portal (www.autoinside.co.kr) that downtown, giving busy passersby a chance
maintenance services provides shoppers with information on to rest and relax
used cars offered for sale, vehicle accident
Business Credit Card
histories, and financing and insurance
A customized card product for self-
options
employed businesspeople
Finance Shop
Business Insurance
A venue that enables customers to access
A business insurance product that ensures
Hyundai Card and Hyundai Capital’s
safety in operations by self-employed
financial services quickly and conveniently
businesspeople

17. 32 33
Hyundai Capital,
Hyundai Card
Hyundai Commercial
Annual Report 2010
Finance Shop Finance Shops
These new-concept financial outlets enable
Finance Shop Services
- Business loans
Products
New-concept, super-convenient customers to conveniently access a wide - Credit loans
financial branches offered by Hyundai range of financial products and services - Home loans
Capital and Hyundai Card offered by Hyundai Capital and Hyundai Card. - Auto leases
In addition to helpful and friendly assistance, - Long-term car rentals
visitors receive many other special benefits. - Credit card applications and renewals
- Gift card sales
Hyundai Capital Products - M Point redemptions
Auto Financing Autoplan New Car Program (Autoplan)
A new car purchasing program for Hyundai
maintenance program. We offer a total
solutions package that covers vehicle
We provide customers with auto and Kia cars, allows customers to choose purchases, maintenance, insurance, and after-
financing and leasing products that repayment periods and methods that are sales. Additional services are provided to the Invitational Invitational
Hyundai Capital has hosted a series of “Stop Listen” refers to spur-of-the-
answer their every need, based on tailored to their individual needs. They include owners of luxury models, such as the Hyundai corporate events called “Hyundai Capital moment concerts that give busy passersby
a “125% program” through which customers Equus or 5G Grandeur.
the Hyundai Motor Group’s specialized Invitational” with the purpose of seeking out a chance to rest and relax through music,
can access loans for expenses as well as the Providing corporate events that support
vehicle management services and supporting innovative sports, cultural and culture, and the arts. In 2010, they included
cost of the vehicle, and a long-term repayment KlassAuto Long-Term Lease (KlassAuto) culture and the arts and lesser-known art areas, a first in Korea. a concert by pianist Ji Yong in April and
and knowledge. program (termed over forty-eight months or A long-term rental car product that includes sports, another first the industry Beginning with the 2007 “Tour de Korea” bike opera performances in December.
more) that lowers their monthly payments. professional maintenance services,
race featuring Tour de France winner Lance
Returning customers are offered additional unrestricted mileage, and the use of LPG fuel.
Armstrong, this program has contributed to
benefits, such as visiting vehicle check-ups. We also offer a money-saving, long-term car
increasing the public’s interest in such lesser-
rental product for office workers.
known sports as cycling and gymnastics.
Autoplan Used Car Program (Autoplan)
It also extends to cultural events, including
The nation’s number one used car loan KlassAuto Corporate Auto Leases/Rentals
concerts. In 2010, we hosted a Korea-Japan
product, featuring a 5,000 km/five-month (KlassAuto)
warranty covering major components, has won professional golf competition.
A lease and rental car product for corporate
recognition for its economical efficiency and customers that manages all vehicle
convenience by many customers. ownership processes, from purchasing and
operating and maintenance to after-sales.
KlassAuto Lease (KlassAuto) Users of this service also receive a special
Korea’s best auto lease product, featuring corporate card that provides customer points MY BUSINESS MY BUSINESS
MY BUSINESS offers self-employed
Business Analyses
We provide a wide range of capital
around-the-clock management services backed and discounts on fuel.
Providing total financial solutions to businesspeople such financial products as a management solutions, sales analyses,
by the country’s finest repair and
self-employed businesspeople business credit card, business loans, business- business location analyses, and value-
oriented leasing and rental cars, and business added tax return report solutions that
insurance. Other features include business allow self-employed businesspeople to
analyses and a transaction assistance service. analyze their operations and predict their
Personal Loans Direct Loan
Personal loan product that can be accessed
Prime Loan
Personal loan product whose reliability
possibility of success.
Business Credit Card
We heighten customer satisfaction by quickly and conveniently by phone (including and security has been verified by the This card provides business owners with MY BUSINESS application
providing door-to-door services and smartphones) or online without the need for industry. Customers enjoy a wide variety “must-have” benefits, including high credit limits, The MY BUSINESS smartphone application
custom-tailored products. complex documentation or visits. Users can of benefits, such as a loan waiver service low interest rates, help with value-added tax provides self-employed businesspeople with
check their maximum loan limits without it and one-stop financial services—including returns, and no-interest installment payment sales analyses, video training, and business-
affecting their credit ratings. consultations and applications at a place plans for the first two-three months related news and information.
of the customer’s choosing. at participating business establishments.
MY BUSINESS Zone
Business Loan MY BUSINESS Zone, an offline consultation
This product allows self-employed center, provides self-employed
businesspeople to access working capital using businesspeople with business supports and
their credit, homes, or commercial facilities as advice on financial products and taxes.
collateral.
Marketing Supports
Business Auto Leasing/Renting We offer a “MY BUSINESS event text service”
Mortgages Loans Prime Mortgage Loans (Prime Mortgage)
Customers can borrow up to 85% of their
as collateral for loans for their personal or
business needs. MY BUSINESS cardholders can pay their lease and “MY BUSINESS PR site solutions” to help
Mortgage loans offer customers home’s market value and take up to thirty or rental car charges with their M points, and businesspeople improve their sales.
receive gift vouchers and rewards when they
convenience and products tailored years to repay the loan. Loans can be used for Prime Mortgage Demand Deposit Account
business purposes or to pay off the balance This home loan product acts like a line rent or lease a car from Hyundai Capital. Knowledge and Information
to fit their individual needs and
owing on a home. of credit, allowing borrowers to make We provide tax and legal advice to help
financial positions
deposits and withdrawals on demand. Loan Business Insurance businesspeople run their operations better
Prime Mortgage Loan Using Key Money as applications can be made quickly and easily This auto and general insurance policy for and more efficiently.
Collateral (Prime Mortgage) through ATMs, telephone, or the Internet. business owners guards against accidents
This product allows customers to use up to 80% There is no charge for early repayments. that can happen while they are operating their Transaction supports
of their apartment or home lease deposits businesses. Damages are covered within a We provide self-employed businesspeople
predetermined limit. with a wide range of solutions for safe and
convenient transactions and tax reductions.

18. 34 35
Hyundai Capital,
Hyundai Card
Hyundai Commercial
Annual Report 2010
Products Overview
Hyundai Card Hyundai Card Products Overview
Premium Platinum Alphabet
the Black M3 A platinum card featuring M A popular multi-purpose card
Korea’s first-ever VVIP card, targeting the additional benefits of M, allowing drivers, diners, air
the top 0.05% of the country’s including the nation’s largest travelers, and shoppers
high- income earners automobile and refueling to accumulate multi-use points
discounts
the Purple M A card especially designed for
A VIP card targeting the top 5% most H3 A platinum card with the Lady women, adding shopping, beauty,
prosperous South Koreans added benefits of H, including and child care discounts to the
the country’s best family life regular M points benefits for
the Red benefits automobiles, refueling, dining, and
A luxury card for the professional elite other services
R3 A platinum card with the added
convenience of R, including the V A multi-purpose discount card
nation’s best shopping benefits offering benefits for using
discount stores, gas stations,
T3 A platinum card with the
convenience stores, taxis, and
additional benefits of T, including
online shopping
the nation’s best air and travel
benefits H A family-oriented card offering
discounts at cram schools,
M2 A practical platinum card
hospitals, and pharmacies
featuring multi-point benefits
and platinum services O A card for car owners, offering
discounts at gas, diesel, and LPG
M2 A platinum card exclusively
stations
Lady for women, with multi-point
benefits and platinum services R A shopping rewards card, offering
points worth up to 10% of every
A2 A platinum card featuring Asiana
purchase, exchangeable for gift
Airlines mileage accumulation
certificates
benefits and platinum-level
services T A travel card offering both
mileage accumulation and travel
K2 A platinum card featuring
benefits
Korean Air mileage accumulation
benefits and platinum-level Post- A toll card that can be used
services Paid, after payment for extra user
Hi- convenience
Pass
MY BUSINESS Diners/Check Service
the Red , M2 , M , O Diners Hyundai Card Club Service
These cards enable self-employed Featuring Diners Club Privilege Services Offers platinum and other high-level
businesspeople to enjoy MY BUSINESS and free access to Diners Club International cardholders discounts worth up to 10-20%
service. They offer all the benefits of the Airport Lounges at hotels, restaurants, wine bars, and spas
alphabet card line across the country
C Point
A debit card for making easy purchase Hyundai Card PRIVIA
payments Offers cardholders access to cultural and
leisure activities
C Discount
A debit card offering cash-back services for
frugal consumers

19. 36 37
Hyundai Capital,
Hyundai Card
Hyundai Commercial
Annual Report 2010
Products
Hyundai Card Products
Premium the Black
Korea’s first-ever VVIP card, the Black
the Purple
This is a VIP card targeting Korea’s top 5% of
PRIVIA PRIVIA
The Hyundai Card PRIVIA brand enriches
Partnership with MoMA
Hyundai Card signed a three-year partnership
Adding value to high-income introduced “the black liquid metal plate” income earners. Its voucher service, combining Enhancing lifestyle services through customers’ lifestyles by offering them exclusive agreement with MoMA in July 2010. It included
lifestyles through upgraded products in 2011 by adding liquid metal, a cutting- high-end luxury and lifestyle trends makes this expanded global partnerships access to global lifestyle brands, including the internships by Korean arts students and
and services edge nano material, to its credit cards. The card “the one to have” in the VIP market. MoMA Online Store Korea. Cardholders can also exchanges of exhibitions and curators.
card offers users a broad array of premium enjoy especially themed tours, world-class As part of this partnership, Hyundai Card
services, such as free upgrades to first-class the Red performances, camping, yachting, horseback sponsored the “Abstract Expressionist New
seats at domestic airlines, 5 million won gift This is a luxury card for members of the riding, and a limousine service for special York” exhibition held at MoMA in September
vouchers that can be used at luxury brand professional elite who are passionate about occasions. 2010, and the director of MoMA visited Korea
stores and five-star hotels, and access to their careers and their lifestyles. Its rewards to participate in Hyundai Card “Super Talk” as
cultural events through “Time for the Black” include airline mileage and gift card points. “Seoul: A Monocle City Survey” for the Seoul a speaker. In addition, three Koreans passed
and “Super Series.” G20 Summit the MoMA internship program for 2011 spring
In 2010, we produced a welcome package, semester. Hyundai Card aims to contribute to
consisting of the English-language versions of the development of the fine arts at home and
“Seoul: A Monocle City Survey” and “Zagat Seoul abroad through the partnership.
Restaurants 2010” to be placed in hotels where
Platinum Hyundai Card M3 Platinum
The card doubles the accumulation of M points
Hyundai Card R3 Platinum
This card lets users accumulate M points and
participants at the Seoul G20 summit stayed Hyundai Card Air Lounge
and at media centers inside its event sites. Hyundai Card provides platinum and higher-
Offering users Korea’s finest that offer diverse multi-point benefits for provides enhanced shopping benefits, including
Readers could learn about companies in Seoul, grade cardholders with a space for rest and
services and benefits through the automobiles, refueling and dining anywhere, up to 10% discounts at department stores and
the environment, and Korean culture, including relaxation by operating an air lounge at
Platinum 3 series while providing platinum services such as the accumulation of a maximum of 10% of your
design, architecture, the media, music, movies, Incheon Airport. They can rent a variety of
maximum KRW 120-per-liter discounts at gas purchases at other shopping places. It also
fashion, and cuisine. travel goods free of charge through touch
and LPG stations, air ticket discounts, and offers a diversity of platinum services including
screen-type vending machines or by using
club services. air ticket discounts and club services.
Zagat guidebook on Seoul restaurants their M points. Travelers who like to read can
Hyundai Card published “Zagat Seoul peruse Monocle, guidebooks by Zagat and the
Hyundai Card H3 Platinum Hyundai Card T3 Platinum
Restaurants 2010” in cooperation with Zagat, German-based art book publisher Taschen,
This card lets users accumulate M points and This card lets users accumulate M points and
a world-wide provider of guides for hotels, “Martha Stewart Living,” or works by the
offers a wide range of family-style benefits, provides both mileage and free air tickets for
nightlife, shopping, zoos, music, movies, theater, Japanese media artist Hiraki Sawa.
including up to 10% discounts at cram travel companions.
golf, and airlines. Its purpose is to serve as an
schools, hospitals, and pharmacies.
authoritative primer on Korea’s food culture.
Alphabet Hyundai Card M
This representative credit card of Hyundai
Hyundai Card O
This card offers discounts at gas and LPG Super Series Hyundai Card Super Match Hyundai Card Super Concert
In 2010, Hyundai Card again invited leading Hyundai Card Super Concert is a wonderful
Continuously growing by offering Card was the first in Korea to attract more stations. Users can save up to KRW 60 per liter
Suggesting new paradigms sports superstars to participate in “Super way for Koreans to enjoy world-class
users a wealth of benefits and than eight million users. It offers multi-point at gas stations and up to KRW 30 per liter at
benefits for automobiles, refueling, dining, LPG stations. for marketing sports and Match.” We held a gala show called “Medalists concerts without having to leave the country.
customized services on Ice” in June, featuring Vancouver Winter In 2010, we featured performances by Green
aviation, and shopping. cultural activities
Hyundai Card R Olympics figure skating medalists Evan Day, Usher, Stevie Wonder, Whitney Huston,
Hyundai Card V This shopper’s card lets users accumulate Lysacek, Evgeni Plushenko, and Asada Mao. Andrea Bocelli, and Itzhak Perlman. The
This multi-purpose discount card offers users up to 10% of the amount of their purchases. In October, we hosted a match between tennis series is increasing its value by expanding
increasing benefits with frequency of use. Launched in 2009, it is now rated number one stars Novak Djokovic and Andy Roddick. They genres to include classical music, and by
Discounts of up to KRW 50,000 are available in terms of quality service by female consumers. also played a surprise match in front of our providing lively performances to and various
on a monthly basis, according to the card The points can be used at department stores, head office building in Yeouido, Seoul. benefits for the public.
usage amount for diverse areas including discount stores, and online shopping malls,
shopping, dining, refueling, coffee, convenience as well as for refueling and Hyundai Card Gift Hyundai Card Super Talk
stores, taxis, movies and amusement parks. Cards. Hyundai Card Super Talk is a program in which
Korean and overseas celebrities share their
Hyundai Card H Hyundai Card T thoughts on a variety of topics, including
This family-type discount card provides This is a travel card that offers users both culture, the arts, and business and management.
up to 10% discounts for cram schools, mileage accumulation and travel benefits. Our guests in 2010 included Glenn Lowry, the
telecommunications, hospitals, and Korean Air miles are added with every use, and director of MoMA, the photographer Kim Jung
pharmacies, as well as savings at discount duty-free shop gift cards and free domestic Man, and the film director Im Sang Soo.
stores, amusements parks, and for refueling air tickets for travel companions are available
and dining. based on annual purchase totals.

20. 38 39
Hyundai Capital,
Hyundai Card
Hyundai Commercial
Annual Report 2010
Products Overview
Hyundai Commercial Hyundai Commercial Products Overview
Industrial Financing Corporate Financing Investment Financing
Industrial Financing Instalment plans for commercial vehicles Corporate loans Private equity investments
and construction machinery Provide loans to companies using their An efficient tool to secure funds for facility
New installment Used car loans Machine tool leases - Number one in the domestic commercial own credit rating and asset holdings as investments, working capital expansion,
plan and installment
vehicles and construction machinery collateral and mergers
plans
installment plan sector
Financing for real estate Fixed income investments
- Official installment plan provider for
Large-sum corporate loans using the Resolves financial needs that are
Hyundai Motors, Kia Motors, and Hyundai
future profitability of their real estate generated during all stages of corporate
Heavy Industries
development projects as security growth through systematic risk analyses
Used commercial vehicles and
Corporate leases
construction machinery loans
Financial products to purchase facilities
Installment plans for customers who
and equipment that are required for
need funds to purchase or operate used
business startups and expansion
commercial vehicles or construction
Corporate Financing machinery Factoring
Trade bills or accounts receivable discounts
Corporate loans Financing for Corporate Machine tool leases and installment plans
real estate leases Leases and installment plans for Specialized products for
customers who need funding to purchase Hyundai Motor Group
machine tools Specialized corporate financing products
for the business partners of Hyundai
Financial Services
Motor Group
Special services for Hyundai Commercial
customers Financing for medical equipment
Leases and installment financing for
hospitals, clinics, and medical foundations
to purchase new medical equipment
Factoring Specialized products Financing for
for Hyundai Motor medical equipment
Group
Investment Financing
Private equity Fixed income
investments investments

21. 40 41
Hyundai Capital,
Hyundai Card
Hyundai Commercial
Annual Report 2010
Products
Corporate Financing Corporate loans
- General corporate loans
Factoring
A financial transaction in which a business
Applying a broad range of flexible Provide loans to companies according to sells its trade receivables and bills to a
repayment methods and periods using their business plans using their credit ratings third party (called a factor) at a discount
Hyundai Commercial Products corporate credit ratings and asset and assets as collateral
- Asset-Backed Loans
in exchange for funding for its continuing
operations.
holdings as collateral
Provide loans to companies using assets that
can be securitized as collateral. Used as a Hyundai Motor Group (HMG) Specialized
structured financial product enabling them to Products
Industrial Financing Instalment plans for commercial vehicles and
construction machinery
Financial Services
We provide special services for Hyundai
repay loans with cash flows generated from
their assets
- HMG Win-Win Cooperation Fund
Offers low-interest-rate funding targeting
Providing reliable financial services Hyundai Commercial’s commercial vehicles Commercial customers. the primary business partners of Hyundai
for large commercial vehicles, and construction machinery installment - Loan repayment exemptions Real estate financing Motor, Kia Motors, Hyundai Mobis,
construction machinery, plans include “official installment plans - Customers’ own vehicle accident - Real Estate Project Financing (PF) Hyundai Powertec, Hyundai Dymos, and
and machine tools for Hyundai Motor and Kia Motors” and compensation Provides loans for real estate projects KEFICO
“official installment plans for Hyundai Heavy - Deferments of installment payments using feasibility-based future cash flows - Green Win-Win Mould-Backed Loans
Industries.” The former products include - Discounts for heavy equipment refueling as collateral And Global Mould-Backed Loans
low-interest- rate installment plans for high- and repurchasing - Asset-Backed Commercial Paper (“ABCP”) Provides long-term facility loans to the
quality customers who are burdened by high - Simplified repurchasing documents Accept commercial paper (CP) that special- primary business partners of Hyundai
interest rates, interest rate-free deferred - Refueling discounts for “Hyundai purpose companies (SPCs) have issued using Motor and Kia Motors using their moulds
installment plans that provide deferment Commercial My Business O” card holders trade receivables, PF loans, corporate bonds, as collateral. Includes foreign-currency
periods without interest to customers who are - Grace periods enabling customers to pay asset-backed securities (ABS), or mortgage- corporate loans to their overseas
burdened by high initial installment payments, interest only backed securities (MBS) as collateral subsidiaries
and smart installment plans that allow - Handling vehicle registrations and - Hyundai Motor and Kia Motors Family
customers to pay principal and interest during cancellations on behalf of customers Corporate Leases Network Loan
high-demand periods and interest only during - Facility Leases A low-interest-rate network loan available
non-high-demand periods. In addition, our Enable customers to acquire or lease facilities using product and service deliveries
“Hyundai Heavy Industries Official Installment and let their business partners use them for to Hyundai Motor and Kia Motors as
Plans” include installment plans with interest- a certain period. They pay for their use by collateral
free value-added tax (VAT) for customers who installment during that period, and dispose - HMG Win-Win Growth Q Fund
need VAT refunds, and short-term interest- of them according to agreements after the Provides low-interest-rate working
free installment plans for customers who can completion of the lease period capital to primary and secondary business
pay back their loans in a short period of time - Ship Financing partners of Hyundai Motor, Kia Motors,
without having to worry about interest. A leading asset-backed financing product Hyundai Mobis, Hyundai EC, Hyundai
using the exchange value of and profits Wia, Hyundai Steel, and Hyundai Rotem
Loans for used commercial vehicles and generated by ships as collateral. Includes ship
construction machinery leases, ship-backed loans, Bare Boat Charter Financing for medical equipment
We boast the largest domestic market share Hire Purchases (BBC-HP), and ship funds Provides hospitals and clinics with funding
for loans used to purchase commercial for new equipment. This service is offered
vehicles and construction machinery. in the form of long-term financing, including
These loans are divided into purchasing capital general leases and installment financing.
loans for customers wanting to purchase Eligible equipment includes dental and
used commercial vehicles and operating ultrasonic, magnetic resonance imaging
capital loans for customers who need (MRI), and computer tomography (CT)
business operating funds and are using their devices.
vehicles as collateral. We also offer optimal
products to meet the needs of customers.
They include prime secured loans targeting
quality customers who have already received
loans from us, and “succession replacement Investment Financing Private equity investments
An efficient means of securing funds for
Fixed income investments
Help resolve financial problems that are
loans” that add convenience to our other Enhances corporate and shared facilities investments, working capital generated during all stages of corporate
succession products.
growth of customers by providing expansion, and mergers. It includes facility growth. This includes enhancing the
them with a broad range of services, and working capital financing to promising corporate value of companies that are
Machine tool leases and installment plans companies with high growth potential through targets for restructuring by purchasing
ranging from financial support to
We operate installment and leasing programs sharing in increases in their capital worth, and their bonds and improving their
with collaboration with Hyundai Wia, while investment-related consulting in line
corporate restructuring investments involving management afterwards, and purchasing
providing one-stop consultation, evaluation, with their stage of growth
the purchase of shares in companies that are high-interest-rate bonds of companies that
and execution services through the nation’s experiencing financial difficulties and then are suffering from temporary financial risks
largest automotive sales network. We also sharing in increases in their capital worth. based on systematic risk analyses.
support the full amount of supplemental
costs, such as notary’s fees, insurance, and
document filing charges. In addition, we assist
customers who want to acquire machine tools
through a rent-to-purchase plan.

22. 42 43
Hyundai Capital,
Hyundai Card
Hyundai Commercial
Annual Report 2010
Milestones
Hyundai Capital Milestones
1993 - 2001 2002 - 2004 2005 - 2007 2008 2009 2010
1993 12 Founded as Hyundai Auto 2002 01 Launched Just Drive II auto 2005 01 Founded Hyundai Capital’s 01 Launched PLUS+ Membership Service 01 Secured 1.65 trillion won credit line 03 Launched MY BUSINESS franchise loans
Finance, Inc. leasing product professional volleyball team, the
“Cheonan Hyundai SkyWalkers” Issued 47 billion yen worth of Samurai 03 Launched customer visiting Prime Loan 04 Launched Prime Mortgage Demand
07 Announced Auto Lease Bonds Service Deposit Account
1995 04 Company name changed to
04 Launched quality assurance
Hyundai Financial Services satisfaction management goals 02 Launched lease succession service Launched Hyundai Capital KlassAuto VVIP
service for used cars Launched “Stop Listen” concerts
program
08 Obtained preliminary license for 09 Launched Auto Save product Launched Prime Mortgage loans for long- 05 Hosted “Hyundai Capital Invitational 2010:
05 Expanded Plus Auto Care service
installment finance business term home leases Ranked first in “capital” category in BBC Symphony Orchestra”
10 Ranked first in Korea Customer Korea Brand Power Index (K-BPI) survey
11 Won Korea Financial Innovation
Satisfaction Index (KCSI) survey Won grand prize at Korea HR Development 06 Launched new car installment and value
1996 01 Obtained final license for Award
Awards
conducted by KMAC
guarantee program
installment finance business in “installment finance” category
12 Launched Prime Loan, integrated 04 Launched Prime Mortgage Card
04 12 Established in-house compliance personal loan brand 04 Issued $155 million worth of syndicated Launched workers’ long-term car rentals
Launched home mortgage
floating rate notes (FRNs) 05 Launched free quality warranty service for
financing business body
imported used cars 07 Launched Direct Loan
2006 05 Expanded coverage of used car 06 Established industry’s first leased car
1998 04 Established employee Code of 2003 03 Launched call-back service warranty service to 5,000km/5 fraud prevention system 06 Launched Prime Mortgage Auction Loan 09 Hosted “Hyundai Capital Invitational
Conduct months 2010: Korea-Japan Professional Golf
08 Established Credit Risk Hosted “Hyundai Capital Invitational 2008 - 07 Ranked first in the “credit card and capital” Competition”
06 Launched household loan Management System (CRMS) 06 Launched Household Loan in International Gymnastics Gala” category in “The Best Companies to Work
business and leasing business association with Korea National for In Korea” survey conducted by KMAC 10 Launched mobile applications
11 Won top prize in “customer Housing Corporation 09 Number of Autoplan customers for used
12 Launched new technology service innovation” category at car payments exceeded one million 08 Launched KlassAuto Grandeur-Mozen long- Launched MY BUSINESS secured loans for
financing business KMAC’s Customer Satisfaction 08 Opened first Finance Shop term leasing special payments plan commercial leases
Management Awards 10 Obtained ISO 27001 certification for
customer information security 09 Hosted “Hyundai Capital Invitational 2009 - Carried out KlassAuto door-to-door vehicle
1999 01 Changed company name to 2007 01 Launched KlassAuto Deferred International Gymnastics Gala” maintenance experience service event
Hyundai Capital Services, Inc. 2004 01 Announced Hyundai Capital CI Lease product Won grand prize at Korea HR Excellence
Awards and CEO of the Year Award from Opened MY BUSINESS website 11 Launched Workers’ Loan
07 Obtained Y2K certification Launched 1:1 customized 06 Introduced Loan Waiver program KMAC
automatic response system 10 Won Best Practice Prize at KMAC’s Korea Renewed new car installment 125%
08 Launched flexible limit loan and (ARS) service Introduced KlassAuto Harley program
11 Secured $100 million credit line from HR Excellence Awards
region-specific loan Davidson Lease program Citibank
Launched Prime Club 11 Launched Prime Loan Mobile Service 12 Hosted “Stop Listen” concerts
12 Selected as leading financial 07 Implemented Career Market 12 Secured 185 billion won worth of unsecured
institution in consumer finance 06 Launched Mortgage Loan system Issued 64 billion won worth of JPY- Launched MY BUSINESS online loans
foreign loans
field by Korea’s Financial denominated bonds
Supervisory Service (FSS) 08 Formed strategic alliance with Launched Prime Finance product Opened MY BUSINESS Zone
GE Capital Issued $500 million worth of Yankee Bonds
08 Introduced e-Prime Loan service Launched MY BUSINESS mobile
2000 02 Launched Speed Small Amount 10 Launched joint venture with GE 12 Credit rating outlook upgraded by Japanese application
Loan business Capital 09 Hosted “Hyundai Capital credit rating agency JCR
Invitational” (Tour de Korea 2007)
Established agency sales system Launched KlassAuto Secured $150 million loan
Launched Fleet Partner Card
07 Established dealer agency Launched Autoplan Launched used car leasing program
system 10 Launched Auto Inside, used car
Ranked first in KCSI survey in finance portal Launched Kia Motors installment program
“installment finance” category
2001 04 Moved headquarters (Hyundai for Koreans living in the US
Capital Building) to Yeouido 12 Launched Household Fire
Compensation program
07 Launched auto leasing business
08 Acquired Diners Club Korea

23. 44 45
Hyundai Capital,
Hyundai Card
Hyundai Commercial
Annual Report 2010
Milestones
Hyundai Card Milestones
2001 - 2004 2005- 2006 2007 2008 2009 2010
2001 08 Acquired Diners Card 2005 02 Launched “the Black” 01 Hosted “Hyundai Card Super Concert 01 - 01 Launched “Hyundai Card Super Class 01” 01 Launched MY BUSINESS card 01 Launched “Hyundai Card Super Concert 07
Il Divo” and “Hyundai Card A Platinum” - Green Day”
09 Moved headquarters to Hyundai 04 Launched Club Academy Service Hosted “Hyundai Card Super Concert 04 -
Capital Building in Yeouido for premium members Launched Hyundai Card M Lady 02 Launched “Hyundai Card H” Plácido Domingo” Launched Corporate Loan Service
10 Changed company name to 08 Formed strategic alliance with 02 Launched Hyundai Card K Platinum Won grand prize for HR development at 02 Co-hosted “Destination: Seoul” with Published “Zagat Seoul Restaurants 2010”
Hyundai Card.Co.,Ltd. GE Capital Korea HRD Awards MoMA Design Store in New York
Won grand prize in corporate culture 02 Expanded “the Black” Korean Air ticket
11 Became affiliate of Hyundai 09 Hosted “Hyundai Card Super category, 5th Annual Korea Ethical 03 Hosted “Time for the Black IV - Christie’s Hosted “Hyundai Card Super Class 03” upgrading service
Automotive Group Match 01 - Maria Sharapova vs. Management Awards Fine Rare Wine Tasting”
Venus Williams” Hosted “Time for the Black VI - Pierre Hosted “Hyundai Card Super Concert 08 -
04 Launched Hyundai Card V Exceeded one million cardholders of Gagnaire Gala Dinner” Whitney Houston”
2002 01 Launched Hyundai [M] Card and
12 Ranked first in “credit card” Hyundai Card M Platinum
Kia Noblesse Card Became first Asian credit card company to 03 Opened Hyundai Card Homepage 3.0 Established alliance with Taschen global
category in National Customer
Service Index (NCSI) survey issue $ 400 million in overseas bonds Launched Merchant Store Loan and art book publisher
06 Launched “Save Points” program Launched Hyundai Card Post-Paid Hi-Pass
conducted by the Korea Workers’ Loan
Won “Most Desired Company to Work for” Hosted Hyundai Card Super Class 05
Productivity Center Launched Hyundai Card R
2003 03 Launched Hyundai Card M award among credit card companies by Launched Hyundai Card W Travel
03 Launched “customer grievances
KMAC
08 Launched mini M 2006 01 Launched M card for affiliated 07 Launched “the Red” 04 Issued “the Black” with titanium plate settlements by management” program
merchants’ stores 05 Introduced world’s first metal implants
Launched M Product service 05 Hosted “Time for the Black VII - Christie’s Opened Hyundai Card Air Lounge at
plate for “the Black”
2004 01 Announced Hyundai Card CI 02 Introduced the service brand, Fine Rare Wine Tasting” Incheon Airport
PRIVIA 06 Launched Hyundai Card F Hosted “Hyundai Card Super Class 02”
02 Launched Hyundai Card exclusive 07 Launched “Hyundai Card Super Class 04” Opened Jamsil Store in M Point Mall
delivery service system Won “Best Credit Card Company Launched Super Save program Hosted “Hyundai Card Super Match 07 -
2008 Superstars on Ice” Ranked first in the “credit category” in 04 Hosted “Time for the Black X - Christie’s
to Work for” award from KMAC
06 Ranked first in “credit card” 07 Hosted “Time for the Black I - Lecture by KMAC’s “best companies to work for in New York Art Auction Preview and Mock
category at KMAC’s “Korea’s 06 Established the Women’s Louis Vuitton CEO” Ranked first in the “credit” category in Korea” Auction”
Most Admired Company” awards Network KMAC’s “best companies to work for in
Launched Career Market System Korea” survey 08 Hosted “Hyundai Card Super Match 08 - 05 Launched Hyundai Card T
09 Launched Hyundai Card S and 08 Opened the first Finance Shop Super Class on Ice”
Hyundai Card I 08 Opened first offline M Point Shop in Korea 08 Launched M points passbook service for Hosted “Hyundai Card Super Concert 09 -
09 Hosted “Hyundai Card Super buying cars Launched Hyundai Card M Points A/S Andrea Bocelli”
Ranked first in “credit card” Match 02 - Superstars on Ice” 09 Hosted “Time for the Black II - Lecture by Guarantee Service
category in the Korea Service Harley Davidson CEO” Hosted “Time for the Black V - Christie’s 06 Hosted “Hyundai Card Super Match 10 -
Quality Index (KSQI) survey 10 Launched Hyundai Card Diners New York Art Auction Preview” Hosted “Hyundai Card Super Concert 05 - Medalists on Ice”
conducted by KMAC Cards Introduced first Color Core design in Korea Craig David”
10 Obtained ISO 27001 certificate for 07 Launched the Black and the Purple iPhone
11 Launched Hyundai Card M and 11 Launched Hyundai Card M-Q 11 Hosted “Hyundai Card Super Concert 02 - consumer information protection 09 Hosted “Hyundai Card Super Concert 06 - offering and KT premium service
Hyundai Card S Platinum Beyonce” Vienna Philharmonic with Sumi Jo”
Hosted “Hyundai Card Super Won grand prize at Korea HR Excellence Hosted “Time for the Black XI - Joshua Bell
12 Launched credit guarantee Match 03 - Roger Federer vs. Hosted “Time for the Black III - Jancis Awards and KMAC’s CEO of the Year Hosted “Time for the Black VIII - Jessey Private Concert”
insurance service Raphael Nadal” Robinson Wine Tasting” Award Norman Private Concert”
Hosted “Hyundai Card Super Concert 10 -
12 Received “BBB” rating from SP Launched Hyundai Card Red Carpet 11 Co-hosted MoMA’s “Humble Masterpieces: 10 Won Best Practice Prize at KMAC’s HR Usher”
Showcase Everyday Marvels of Design” exhibition Management Awards
Ranked first in “credit card” 08 Hosted “Hyundai Card Super Concert 11 -
category in NCSI survey Hosted “Hyundai Card Super Match 06 - Hosted “Hyundai Card Super Concert 03 - 11 Launched “exclusive silver care service” Stevie Wonder”
Pete Sampras vs. Roger Federer” Billy Joel” for elderly cardholders
09 Opened Hyundai Card corporate blog
12 Won excellence prize in “sports marketing” 12 Launched 50 Million M Point Donation 12 Hosted “Hyundai Card Super Match 09 -
category at Korea PR Awards Campaign Snow Board City Jump” 10 Hosted “Hyundai Card Super Concert 12 -
Itzhak Perlman”
Ranked first in “credit card” category in Ranked first in “credit card” category in Hosted “Time for the Black IX - Sarah
NCSI survey NCSI survey Chang Private Concert” Hosted “Hyundai Card Super Match 11 -
Novak Djokovic vs. Andy Roddick”
Ranked first in “credit card” category in Published exclusive Korean edition of
Korean Net Promoter Score (KNPS) survey Martha Stewart Living Hosted “Hyundai Card Super Talk 01”
Won grand prize at Web Awards Korea Ranked first in “credit card” category in 11 Launched Hyundai Card Platinum 3 series
NCSI survey (M3, H3, R3, T3)
Won Best Website Prize at Web Awards Credit rating upgraded to “BBB+(S)” by
Korea Fitch Ratings
Hosted “Time for the Black XIII - Clive
Coates Burgundy Wine Tasting”
12 Credit rating upgraded to “AA+” by Korea
Investors Service

24. 46 47
Hyundai Capital,
Hyundai Card
Hyundai Commercial
Annual Report 2010
Milestones
Hyundai Commercial Milestones
2007 2008 2009 2010
03 Founded by taking over the industrial 01 Joined the Credit Finance Association 01 Achieved 100% market share in 01 Launched financial products for medical
materials sector of Hyundai Capital installment financing for large commercial equipment
Introduced interest rate differentiation by vehicles of Hyundai Motor and Kia Motor
04 Registered in the specialized credit credit rating (new and used car loans) 03 Selected as a power brand company in
financing business (including facility Launched branch service in the capital the financial leasing category by Seoul
rentals and installment financing) 04 Registered in the foreign exchange area (Gangbuk and Gangnam Branches) Economic Daily
business
05 Launched monthly installment loans Launched financial partnership assistance 04 Launched extensive deferments of
for machine tools in partnership with Unified debt collection for used vehicle dealers installments for commercial vehicles
Hyundai WIA
06 Registered in the financing for new Launched new industrial materials CM 06 Implemented and expanded use of
07 Launched affiliated corporate financing technology business mileage program differentiated interest rates by credit
rating for customers with new car
10 Launched real estate PF loans 10 Assets reached KRW 1 trillion 05 Launched illegal exports prevention alarm installment plans
system
Achieved 60% market share in installment
07 Launched network loans for business
financing for used commercial vehicles 09 Launched loan repayment exemption partners of Hyundai Motor and Kia Motors
service
11 Selected as win-win fund management
08 Financial assets reached KRW 2 trillion
company for HMG partners Launched secured loans for sales firms
10 Launched drivers’ own vehicle accident
12 Launched win-win fund management 10 Launched deferments of installment compensation service
payments for tour bus operators following
the spread of H1N1 11 Launched Green Loan products in alliance
with Korea Finance Corporation
Credit rating upgraded to “A+ (Positive)
12 Credit rating upgraded to “AA- (Stable)”
Operating assets reached KRW 1.6 trillion
Provided financial programs for win-win
12 Launched EZ commercial loan 2 for used cooperation targeting overseas business
commercial vehicles partners of Hyundai Motor and Kia Motors
(payment guarantees for mould-backed
loans)

25. 48 49
Hyundai Capital,
Hyundai Card
Hyundai Commercial
Annual Report 2010
Global Presence
01 02 03 04 06 07
Hyundai Capital, Hyundai Card Hyundai Capital Beijing Hyundai Capital New Delhi Hyundai Capital Europe GmbH Hyundai Capital Moscow Hyundai Capital America
Hyundai Commercial Representative Office Representative Office Theodor HeussAllee 11, 60486 Representative Office 3161 Michelson Drive, Irvine CA, 92612,
Headquarters Hyundai Motor Tower Room No.407 No.38 6th floor, Corporate One, Plot No. 5, Frankfrut am Main, Germany World Trade Center, ent. 3, office 1901, U.S.A.
15-21 Yeouido–dong Yeongdeungpo–gu Xiaoyun Road, Chaoyang District, Beijing, Non-Hierarchical Commercial Centre, Krasnopresnenskaya nab. 12, 123610,
Seoul, Korea, 150–706 China (100027) Jasolar, New Dehli 100 076, India Moscow, Russia
05
Hyundai Capital Germany
Theodor HeussAllee 11, 60486
Frankfrut am Main, Germany
04 Hyundai Capital
Europe GmbH
02 Hyundai Capital Beijing Frankfrut, Germany
Representative Office
Beijing, China 05 Hyundai Capital
01 Hyundai Capital · Hyundai Card · Germany
Hyundai Commercial Frankfrut, Germany
Headquarters
Seoul , Korea
06 Hyundai Capital 07 Hyundai Capital
Moscow America
Representative Office Irvine, U.S.A.
Moscow, Russia
03 Hyundai Capital
New Dehli
Represnetative Office
New Dehli, India

26. 50 51
Hyundai Capital,
Hyundai Card
Hyundai Commercial
Annual Report 2010
Directors Executives
Hyundai Capital Hyundai Card
Board of Directors Executives Board of Directors Executives
Ted Chung Ted Chung Sang-Hyuk Suh Gyo-Chang Lee Ted Chung Ted Chung Jae-Hwan Kim Mee-Young Lee
President CEO Vice President Vice President President CEO Senior Vice President Vice President
Overseas Business Department CS Department Card Sales Department Brands Department
Hyun-Seok Shin Bernard van Bunnik Hyun-Seok Shin Bernard van Bunnik
Director Deputy CEO Soo-Kyung Kim Byung-Hui Lee Director Deputy CEO Sung-Won Jin Yeon-Woong Baek
Vice President Vice President Vice President Vice President
Won-Hee Lee Hyun-Seok Shin Controller Auto Finance Planning Department Yoo-No Hwang Jung-Hoe Kim CLM Department (Cross-sell) Collections Department
Director Senior Executive Vice President Director Advisor
Auto Business Division Hyun-Joo Kim Dai-Gyu Lim Sang-Ho Jeong Yong-Teak Hwang
Yong-Bae Lee Vice President Vice President Jae-Rok Lee Ju-Hyuk Lee Vice President Vice President
Director Yoo-No Hwang Risk Representative· Jungbu Auto Regional Headquarters Director Executive Vice President SME Business Department Marketing Department
Senior Executive Vice President Collection Representative Finance Division
Bernard van Bunnik Corporate Services Division Man-Seob Park Yong-Bae Lee Yoon-Seok Lee Joon Oh
Director Heather Valteris Vice President Director Se-Hun Park Vice President Vice President
Jwa-Jin Cho Vice President West Auto Regional Headquarters Executive Vice President Corporate Services Department Design Department
Matthew Richard Susser Executive Vice President CVM Department Bernard van Bunnik Marketing Division
Director Head of Financial Marketing Division In-Ju Kim Director Sung-Moon Kim Myong-Su Lee
Niclas Neglen Vice President Jin-Moon Jung Vice President Vice President
Geoffrey Bruce Culbert Jin-Hwan Choi Vice President Yeongnam South Auto Kun Nah Senior Vice President Audit Department CLM Department
Director Executive Vice President Management Department Regional Headquarters Outstanding Director, Audit Committee Member Personal Finance Division
Strategic Planning Division Gil-Soo Jun
In-Hwan Kwak Woon-Chul Jung Byung-Il Kim Byeong-Hee Kim Vice President
Keun-Bae Jung Vice President Audito Outstanding Director, Audit Committee Member Senior Vice President Alliance Business Department
Senior Vice President Underwriting Department Auditor Risk Management Division
Head of Auto Business Division Kun-Bum Lee Jin-Tae Kim
Sung-Won Choi Hong-Kyun Kim Outstanding Director, Audit Committee Member Eun-Gu Jang Vice President
Jae-Eul Choi Vice President Vice President Senior Vice President Corporate Management Department
Senior Vice President HR Department Beijing Representative Office Steven Andrew Sargent Corporate Financing Division
IT Department Outstanding Director Kyu-Sik Kim
Hwan-Bin Yong Dae-Kyoon Kwon Jung-In Kim Vice President
Suk-Joon Won Vice President Vice President Gregory Leong Hong Senior Vice President Corporate Legal Affairs Department
Senior Vice President PL Planning Department Overseas Business Team (HCA) Outstanding Director Operations Division
Corporate Services Division (HCA) Kyung-Joo Min
Soo-Jeong Paek King Toh Lee Vice President
Sang-Woo Kim Vice President Outstanding Director Fee Business Department (Fee Biz)
Vice President Marketing Department
Early Collections Department
Gwi-Ho Kang
Yoon-Tae Kim Vice President
Vice President Auto Business Department II
Treasury Department
Board of Director’s Activities
Hyundai Commercial
Risk Control Executive Finance Compliance
Committee Committee Review Board
Board of Directors Executives The Risk Control Committee is a deliberative The Executive Finance Committee is a This body is tasked with ensuring the
body that is committed to achieving sound decision-making body that ensures that the efficient operation of the companies’
Ted Chung Ted Chung Jeong-Hak Son Yeon-Wung Baek management and stable profitability. It does financial activities of all Hyundai Capital and various compliance policies and
President CEO Senior Vice President Director this by overseeing all potential risks related Hyundai Card’s operations are carried out establishing relevant policies. This
Investment Financing Department Bonds Management Office
Byeong-Doo Kim Byeong-Doo Kim to the joint operations of Hyundai Capital smoothly. including compliance with regulations
Director Executive Vice President Jae-Eul Choi Byeong-Gu Jeon
Senior Vice President Director
and Hyundai Card. regarding the overall joint management of
Won-Hee Lee Jin-Hwan Choi IT Department Business Management Department Meeting frequency: Monthly Hyundai Capital and Hyundai Card
Director Executive Vice President Membership: Four from HMC, three from GECC
Strategic Planning Division Gil-Ho Jeon Meeting frequency: Monthly
Ju-Hyuk Lee Director Membership: Five from HMC, five from GECC Frequency of Meetings: Quarterly
Director Sung-Moon Kim Industrial Financing Department
Auditor Membership: Seven from HMC, seven from GECC
Jin-Hwan Choi Gyu-Sik Kim
Director Byeong-Hee Kim Director
Senior Vice President Business Legal Affairs Department
Risk Management Division
Hyundai Capital and Hyundai Card operate joint committees with their two major
shareholders, Hyundai Motor Company (HMC) and GE Capital Corporation (GECC). This is
done to ensure efficient corporate management and administration.

27. 52 53
Hyundai Capital,
Hyundai Card
Hyundai Commercial
Annual Report 2010
Independent Auditor’s Report
Hyundai Capital Hyundai Card
To the Shareholders and Board of Directors of Hyundai Capital Services, Inc. To the Shareholders and Board of Directors of Hyundai Card Co., Ltd.
We have audited the accompanying statements of financial position of Hyundai Capital Services, Inc.(the “Company”) as We have audited the accompanying non-consolidated statements of financial position of Hyundai Card Co., Ltd.(the
of December 31, 2010, and the related statements of income, appropriation of retained earnings, changes in shareholders’ “Company”) as of December 31, 2010, and the related non-consolidated statements of income, appropriations of retained
equity and cash flows for the year then ended, expressed in Korean won. These financial statements are the responsibility earnings, changes in shareholders’ equity and cash flows for the year then ended, all expressed in Korean won. These
of the Company’s management. Our responsibility is to express an opinion on these financial statements based on our financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on
audits. The financial statements of the Company as of and for the year ended December 31, 2009, presented herein for these financial statements based on our audit. The financial statements for the year ended December 31, 2009 presented
comparative purposes, were audited by other auditors whose report dated February 24, 2010, expressed an unqualified herein for comparative purposes were audited by Samil PrincewaterhouseCoopers and their report, dated February 10,
opinion on those statements. 2010, expressed an unqualified opinion on those statements.
We conducted our audit in conformity with auditing standards generally accepted in the Republic of Korea. Those standards We conducted our audit in accordance with auditing standards generally accepted in the Republic of Korea. Those
require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial
of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the
the financial statements. An audit also includes assessing the accounting principles used and significant estimates made amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and
by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe
reasonable basis for our opinion. that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements as of and for the year ended December 31, 2010, referred to above present fairly, in In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the
all material respects, the financial position of Hyundai Capital Services, Inc. as of December 31, 2010, and the results of its Company as of December 31, 2010, and the results of its operations, changes in its retained earnings and its shareholders’
operations, the changes in its retained earnings, changes in shareholders’ equity and cash flows for the year then ended in equity, and its cash flows for the year ended December 31, 2010, in conformity with accounting principles generally
conformity with accounting principles generally accepted in the Republic of Korea. accepted in the Republic of Korea.
Accounting principles and auditing standards and their application in practice vary among countries. The accompanying Accounting principles and auditing standards and their application in practice vary among countries. The accompanying
financial statements are not intended to present the financial position, results of operations, changes in shareholders’ financial statements for the year ended December 31, 2010 are not intended to present the financial position, results
equity and cash flows in conformity with accounting principles and practices generally accepted in countries and of operations, changes in shareholders’ equity and cash flows in accordance with accounting principles and practices
jurisdictions other than the Republic of Korea. In addition, the procedures and practices used in the Republic of Korea to generally accepted in countries other than the Republic of Korea. In addition, the procedures and practices utilized in
audit such financial statements may differ from those generally accepted and applied in other countries. Accordingly, the Republic of Korea to audit such financial statements may differ from those generally accepted and applied in other
this report and the accompanying financial statements are for use by those who are informed about Korean accounting countries. Accordingly, this report and the accompanying financial statements are for use by those knowledgeable about
principles or auditing standards and their application in practice. Korean accounting procedures and auditing standards and their application in practice.
Samil PricewaterhouseCoopers Deloitte Anjin LLC
Seoul, Korea Seoul, Korea
March 2, 2011 March 8, 2011

28. 54 55
Hyundai Capital,
Hyundai Card
Hyundai Commercial
Annual Report 2010
Independent Auditor’s Report
Hyundai Commercial
To the Shareholders and Board of Directors of Hyundai Commercial
We have audited the statements of financial position of Hyundai Commercial (the “Company”) for the years ending
December 31, 2009 and December 31, 2010, as well as the statements of income, appropriation of retained earnings,
changes in shareholders’ equity and cash flows for the respective periods, expressed in Korean won. These financial
statements are the responsibility of the Company’s management. Our responsibility is solely to express an opinion on these
financial statements based on the results of our audit.
We conducted our audit in accordance with the generally accepted auditing standards of the Republic of Korea. Those
standards require that we plan and perform an audit of sufficient depth to obtain reasonable assurance that the financial
statements as presented by the Company are free of any material misstatements. An audit includes examining, on a test
basis, evidence supporting the amounts and disclosures presented in the financial statements. An audit also includes an
assessment of significant estimates made by management and the accounting principles used, as well as an evaluation of
the overall financial statement presentation. We believe that our audit has provided a reasonable basis for our opinion.
In our opinion, the financial statements for the years ended December 31, 2009 and December 31, 2010, referred to above,
present fairly, in all material respects, the financial position of Hyundai Commercial as of December 31, 2009 and December
31, 2010, respectively. These statements representing the results of its operations, the changes in its retained earnings,
changes in shareholders’ equity and cash flows for the years covered by the statement, are in conformity with the generally
accepted accounting principles of the Republic of Korea.
Deloitte Anjin LLC
Seoul, Korea
February 24, 2011
www.hyundaicapital.com
www.hyundaicard.com
www.hyundaicommercial.com